The Future of Law: Essential Trends for 2024

What will AI’s role be in the legal profession in 2024? Will the excitement about the technology continue to buzz or will there be enough?

In this edition of The Automated Lawyer, we’ll build on last week’s insights from Henchman’s 2024 Legal Tech Trends Report.  Dive into why optimism is warranted, discover four practical ways AI can enhance your firm, and explore a critical concern surrounding AI in the legal field.

Grateful, Not Threatened: Embracing AI in Law

Rather than feel worried about the proliferation of AI in the legal profession, Haley Sylvester, Private Client and Trusts & Estates Associate at Pryor Cashman, argues we should be excited. If the legal profession, at the cusp of a technological revolution, is navigated correctly, Sylvester suggests it has the potential to drastically “enhance the services we provide our clients and increase access to high-quality legal representation.”

Why should we feel excited?

• Mundane Tasks Handled by AI: Tasks like document review or statutory legal research, once time-consuming, are now executed with stunning accuracy by AI — and in a fraction of the time.

• Cost Reduction: The streamlining afforded by AI slashes the costs tied to legal services.

• Focus on High-Value Work: Lawyers can redirect their attention to strategy, negotiation, and advocacy, thanks to AI handling routine tasks.

“The impact of AI is already profound — both on lawyers’ practices and on their psyches.”

Client Benefits: Quicker, more affordable legal services democratize access to representation, making high-quality legal assistance accessible to more people.

Failing to embrace these innovations risks letting down both current and potential clients. It's not just an opportunity; it's a responsibility.

The True Value of an Attorney

Sylvester echoes a sentiment we’ve previously expressed on The Automated Lawyer: that AI should be seen as an assistant, not a technology that will replace attorneys altogether.

• Lawyers offer more than simple yes/no answers. Their real worth lies in framing issues, deep analysis, strategic advice, and guiding implementation processes.

• AI tools enable lawyers to spend more time on these uniquely human aspects of their work, benefitting both lawyer and client.

Sylvester’s Call to Action

Sylvester compares AI chatbots to internet resources that revolutionized legal research ultimately bettering both lawyer and client. 

“These chatbots are here to help, and lawyers should embrace the aid. We owe it to our clients to responsibly use any tools at our disposal that would produce higher-quality legal service.”

Top 4 Ways AI Can Enhance Your Firm’s Performance

As firms become familiar with AI’s strengths and limitations, Peter Duffy, Legal Tech Innovation Consultant at Titans, writes that the AI excitement will shift to focus on specific use cases. 

“Firms will accept that rather than being a magic wand, it is another tool in the tech kit.”

While AI has the potential to bolster a wide range of practice groups and business support functions, Duffy highlights the four most pertinent ones:

1. Document Automation: Although it is not new, many firms still experience challenges driving adoption and don’t have internal automation processes that scale. However, the recent surge of interest in Generative AI and its limitations has sparked an appetite for document automation tools. 

2. Client Portals: Firms are increasingly focusing on customized client portals for enhanced collaboration, self-service options, and progress visualization, as they strive to differentiate themselves through superior digital experiences and expanded legal service offerings.

3. Word Drafting Assistants: Given that lawyers predominantly work in Word, the demand for Word plugins streamlining tasks like formatting, proofreading, and clause-level drafting is set to surge.

4. Microsoft 365 Suite & Copilot: The collection of Microsoft suite tools (e.g. Power Automate, Sharepoinrt, and various Azure AI services. Firms with Copilot licenses are expected to further commit to the Microsoft ecosystem, leveraging its suite of products for integrated legal workflows.

Training Challenges in the Age of Automation

In her opinion article, Anaïs De Boulle, Director Legal & Scale-up Ecosystem Lead at Deloitte Belgium, writes that a worrying legal tech trend not easy to mitigate is the training of young legal experts. 

• Impact of Automation: Automation reduces opportunities for young legal professionals to develop essential skills like research, drafting, and analysis.

• Proficiency Concerns: There's a risk of lower proficiency in evaluating source credibility and relevance, impacting the understanding of legal principles and strategies.

• Overreliance on Technology: Increased dependence on automation can lead to a lack of development in crucial soft skills, vital for client relationships, negotiation, and communication.

De Boulle emphasizes that while technology drives market innovation and competitive edge in law, its careful integration is crucial for thoroughly educating and preparing legal professionals for the field's diverse demands.