How Disruption Affects Firms

Law firms must adapt to emerging technologies or risk becoming irrelevant in today's fast-paced landscape. Artificial intelligence is proving to be a major asset, streamlining processes and allowing for increased collaboration. Fixed-rate legal counsel and online services are gaining in popularity, making the billable hour model less desirable. Retaining emerging legal talent is critical, and technology plays a key role in promoting work-life balance. Going paperless is also becoming a trend, with firms having to adapt or be left behind. Finally, new players are emerging in the industry, more willing to embrace new technology and tools, posing a threat to traditional law firms.