With technology advancing at an exponential rate, companies are introducing new apps, products, and
services that are changing the way business is done. Some changes are coming up in the legal industry
that will make work a bit more harder for attorneys.
1) Competitive Law Firms
In general, the legal industry is a very competitive market. Building up a client base is easy but advertising is the hard part. With the advancement of tech, people are aware of all the possibilities they
can utilize instead of hiring an expensive lawyer. Additionally with all the free information out there, your everyday consumer grows more and more self confident when navigating the legal field.
2) Growing Use Of AI In The Legal Industry
Law is facing a huge challenge from the technology sector. Artificial intelligence software is growing to eventually have the potential to act as general counsel, helping people to draft contracts and compose emails to work on cases without the help of lawyers. This has some, who are in the legal field, worried about how the future may look compared to today's market.
3) Law Practice Management
Even though the law is a well-established industry, it’s still plagued with some major problems. From the lack of comprehensive data to the difficulty in accessing information, several things are hampering the industry’s growth. Finding a practice software that gives you everything you need all in one is growing harder and harder each year as a ton of companies are popping up giving you one or two aspects for what you may need in your practice. This will mean that you might end up paying for multiple platforms to give you what your firm may need on a daily basis.
4) Client Expectations
According to a 2022 survey on Clio.com, clientele expects that a good lawyer should be 100% accessible online, which is difficult to achieve in the current reality of the law, and when those expectations aren't met, there are repercussions, some of which you may have already experienced. Keeping up with tech is one of the main ways to grow. Fast responses, a surplus of information and keeping your client up-to-date appropriately are just some of the many ways to exceed client expectations and gain raving reviews in the long run!
5) Big Emphasis On Business Law
With the advent of AI, businesses have changed the way they used to operate. Putting a big emphasis on the work-from-home movement that started with the rise of Covid, Lawyers especially, now have to deal with an ever-changing field to keep up, thus many lawyers have reported to become more service oriented.
6) New Problems For Attorneys
Lawyers have been trying to find the right balance between their business and personal lives, and most have reported that is is not working out. Many are choosing to manage their law practice, getting rid of the associate and paralegal positions and taking on the workload themselves which has proven to provide more and more stress as the rise in casework and clientele are skyrocketing.
7) AI-Related Legal Tool
It’s not just automating administrative tasks that have hurt the legal sector. More people are using technology to create alternative dispute resolution systems, like arbitrations and mediation. Alternative dispute resolution methods are taking away cases from law firms and should be kept in mind when you are formulating new plans of how to cater to your target audience.
8) A Push Toward Specialization Among Attorneys
This can be seen in the way that many law schools are changing the way that they offer their programs. Some schools are beginning to focus more on the skills that students can bring to the table rather than the old way they used to operate. As a result, many are offering more career-focused programs to give the new and upcoming lawyers a chance to better center and focus their practice in this new developing legal industry.
10) Increased Use Of Legal Assistants
As technology advances, lawyers find more and more needs to hire legal assistants who are familiar with digital law firm tools to keep everything organized. Most lawyers aren't that familiar with the digital world, so this is an essential role in keeping a law firm running smoothly. In 2021 it was reported on Clio.com that the need for legal assistants and paralegals rose to 89% and is expected to continue to rise as the demand for new technology continues to increase.
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