Cybersecurity, ESG and mergers to drive legal work in 2024
While AI's impact on the legal industry shows no sign of easing in 2024, large law firms expect cybersecurity, ESG work and transactions to dominate the year ahead.
It's impossible to wrap up 2023 for most industries without mentioning artificial intelligence, and the legal world is no different.
King & Wood Mallesons chief executive partner for Australia Renae Lattey told Capital Brief that the impact of AI on the law this year "was one of the most visible shifts" in the industry.
As Capital Brief reported in September, there's been a range of approaches across the industry. While law firms like Clayton Utz and Ashurst being more cautious (although after publication Ashurst said it is trialing Microsoft's Copilot), Allens worked with Microsoft to build its own AI tool.
Lattey said client expectations around the use of AI in legal services and preparing the firm for how to price legal services and tackle training "is only going to accelerate" in the year ahead.
