Changes to the legal industry in the coming years bring both new opportunities and great challenges. Law firms need to be embracing these changes, and fee earners need to be expanding their skills beyond legal knowledge to encompass business and project management skills. Lawyers shouldn't fear the innovations in legal technology, for example AI: AI is something we should work with. Man with machine, as opposed to Man V. Machine: if done effectively, the combination and balance between the two can be highly beneficial.
The Law Society has today published a landmark report on the future of legal services that pulls together predictions on how the market will change over the next five years. By 2020, it suggests, the gap between successful and struggling firms will have widened further, speeding up consolidation.