In a New Year’s message Julian Taylor, Senior Partner of Simmons & Simmons, has outlined three key themes for the market to now focus on, including legal AI helping to shift the current pattern of pricing models.
Taylor stated: ‘AI could serve as a catalyst for change in one area that has remained a constant: the legal sector’s pricing model. In the coming years, AI will undoubtedly disrupt this model.
‘Firms should be open to having internal conversations and with their clients about the merits of alternatives.’
And of course, what this refers to is law firms moving, at least more so than in the past, outside of the time-based legal economy. That is to say not using manual production time (i.e. the duration of human legal labour on a task) as the main metric of value for client work.
Artificial Lawyer whole-heartedly welcomes this statement from one of the UK’s leading law firms. But, there is also plenty to do to get there. However, when senior partners accept this is a very real future outcome of legal AI then we are truly on the right road.
(And as you’ll see below, AI is seen as a chance to improve access to justice as well.)
Taylor focused on two other key areas:
Reskilling and upskilling trend to increase
‘2025 will see an increased focus on lawyers upskilling and reskilling, accompanied by a gradual but tangible shift in hiring practices. Digital proficiency and AI literacy, including a solid understanding of generative AI and coding, is emerging as a prerequisite for legal professionals – and not just apprentices or those early in their careers.
‘This evolution has the potential to bring fresh impetus to the legal sector, drawing talent from non-traditional backgrounds and fostering a more innovative, inclusive and diverse legal landscape.’
And:
Delivering more societal value must be a priority
‘Technological disruption and alternative operating models could drive a cultural shift and deliver greater value to society in 2025 and beyond.
‘Together, they could not only support lawyer wellbeing, but also allow more time to be dedicated to meaningful pro-bono work and initiatives that harness the power of technological innovation. By doing so, the sector can expand access to legal services, particularly for underserved communities, and make a lasting, positive impact.’
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Thank you to Simmons & Simmons for this, it’s a nice start to the year.