Nick Carter-Pegg
Partner, Professional Services
Our research over the last two years has identified a number of challenges and opportunities that law firm leaders are getting to grips with. Last year’s Series proposed that law firms seemed to fit more or less into three categories. The developments we have discussed with law firm leaders, and their responses, have begun to provide us with a glimpse of what law firms may look like in a few years, regardless of where they are currently in terms of operating models.
Throughout this year's Series, we have come back to a number of issues; law firm culture, working patterns, the work/life balance conundrum, the use of new technologies in particular AI and issues around reward.
Across all these issues, we have found a split between law firms that are willing to look at innovative, and sometimes ground-breaking, new ways of doing business and those firms that are being more traditionalist and continuing to rely on the operating models and cultures that have seen them survive financial crises and pandemics.
This series includes four articles exploring different topics and the key challenges the legal market is facing. Each article draws upon qualitative interviews of 13 senior or managing partners in addition to insight gained at an in-person roundtable event. They provide an insight into the thinking of those who are shaping the current legal market.
This report covers four articles;
- The three operating models, one year on
- The economic outlook
- Financial health and sustainability
- Artificial Intelligence and its impact on law firms
- Conclusion
If you would like to discuss this report further or any wider sector issues, please contact us.
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