Of all the industries upended by the onslaught of autonomous AI, the legal sector is among those most exposed to the ensuing disruption.
As historically slow adopters of technology, it comes as no surprise that the legal industry has been lagging behind its contemporaries in terms of AI innovation. That’s changing, and adoption has indeed picked up in recent years, but it’s raising questions about the sector’s state of preparedness.
Between the burgeoning legal tech space, generative AI, and widespread corporate paradigm shifts, the path to progression looks increasingly blurry.
Whatever the case may be, disruption is all but guaranteed. Whilst the majority of firms leverage some form of AI, the leading-edge generative iteration is far less common. Many early adopters (such as Ernst & Young, who recently launched a new AI platform following a $1.4 billion investment) find themselves in a precarious position: navigating the numerous ethical, regulatory, and talent-related challenges of a system-level transformation.
Barriers to Implementation
Many of the barriers to successful implementation appear similar regardless of the industry, some of the most prevalent being:
· The lack of digitisation in core business functions (a missing foundational element)
· Workforce resistance (job replacement fears, a lack of knowledge and training, unwillingness to change)
· Regulatory and legislative pressures (a lack of regulatory understanding, incomplete frameworks, unclear messaging)
· Privacy issues (the ethics of using AI to handle and store sensitive data must be considered)
· The data gap (AI trained on incomplete, inaccurate, outdated or illegally obtained data sets, and the potential for machine bias)
In a notoriously demanding sector, the opportunity to eliminate the toil of menial admin tasks might sound like a dream come true.
It’s entirely possible to beat the barriers and enjoy an AI-enhanced workforce, provided that corporations see their new tools as companions, not replacements – people are still the legal sector’s most valuable asset, and that’s not likely to change.
Maintaining a people-centric mindset will help decision-makers unify tech and talent without sacrificing the quality of their company culture. And speaking of talent…
Technology tends to change faster than the companies implementing it. This makes identifying, attracting, and retaining compatible talent an ever-more complex process.
Roles will diversify, and the number of candidates at the intersection between tech and legal will expand, likely creating a range of new entry points into the industry.
Hiring managers must be equipped to adapt their hiring processes if they hope to navigate the rising competition.
At Broadgate, we know that a diversity-focused methodology yields the best results. By embedding diversity, equity, inclusion, and belonging into each cornerstone of our service, we can help our clients broaden their talent pool, enhance their brand value proposition, and access a global community of highly engaged legal professionals.
If you’re hoping to get ahead in the new AI-enabled legal space, you’ll need the right talent on board. Broadgate has you covered. Reach out to the team to find out more about our community-led recruitment methodology.