GenAI, Talent, and Remote Work: Legal Industry Trends from the 2024 Wolters Kluwer Survey
December 02, 2024
Here is my recent Daily Record column. My past Daily Record articles can be accessed here.
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GenAI, Talent, and Remote Work: Legal Industry Trends from the 2024 Wolters Kluwer Survey
The 2024 Wolters Kluwer Future Ready Lawyer Report was released last month and highlights key trends impacting the legal profession. The survey findings from legal professionals across the U.S. and Europe reveal how organizations are addressing efficiency, regulatory pressures, and evolving client needs to stay competitive in a rapidly changing environment. Topics covered include the integration of generative AI (GenAI) into legal workflows, changing remote work expectations, and the value of work-life balance for talent recruitment and retention.
First, let’s examine the GenAI data. The survey results showed that at least 76% of legal professionals in corporate legal departments and 68% in law firms use GenAI weekly, with 35% and 33%, respectively, using it daily. There are implementation challenges, however, and (37%) of law firm employees and 42% of their corporate counterparts report issues integrating GenAI with their organization’s existing legal systems and processes.
Another notable set of statistics revolved around GenAI’s potential effect on, and potential to disrupt, the almighty billable hour. A surprising 60% of those surveyed expect AI-driven efficiencies to reduce the prevalence of the billable hour moving forward, and 20% predict it will have a significant impact. Fortunately, more than half of the legal professionals surveyed (56%) feel well-prepared to adapt their business practices, service offerings, workflows, and pricing models in response to AI’s potential impact on the traditional billable hour business model.
Additionally, 65% of legal professionals anticipated increased organizational investment in AI technology over the next three years, with 71% anticipating that GenAI’s rapid development will continue impacting firms and corporate legal departments during that same timeframe. 31% believe it will have a significant effect, with 69% feeling generally prepared to manage this impact. Only 26% consider themselves “very prepared.”These findings are evidence of the significant interest in this GenAI, driven by its time-saving benefits. However, trepidation exists regarding the pace of change, implementation challenges, and the levels of investment and training needed to keep up with a rapidly changing technology landscape.
In addition to GenAI trends, perspectives on changing talent acquisition and retention trends were also explored. One positive finding was that 80% of respondents believe their workplaces are equipped to address the need for talent attraction. Key factors cited as legal talent draws included an acceptable work-life balance (81%), competitive compensation packages (79%), and opportunities for professional development and training (79%).
Interestingly, employees surveyed reported that work culture is particularly important in attracting legal talent. Nearly 72% of respondents shared that they valued diverse and inclusive workplaces, and 75% believed their organizations fostered such environments.
Finally, remote work trends were also addressed. The survey results revealed a global trend toward returning to the office, despite the employee push-back often reported in the media. Most respondents (73%) reported that staff are required to work in the office four or more days per week, with this figure higher in corporate legal departments (77%) compared to law firms (69%).
This year’s survey results highlight the legal industry’s efforts to balance the adoption of cutting-edge technologies like GenAI with ethical and implementation challenges. Furthermore, issues like workforce retention remain significant, with the data showing that organizations must prioritize innovation, adaptability, and strategic investments in training and technology. In the midst of rapid technological and societal change, the importance of proactive planning and technology adoption cannot be overstated for organizations seeking to remain competitive and positioned for success in the years to come.
Nicole Black is a Rochester, New York attorney, author, journalist, and Principal Legal Insight Strategist at MyCase, LawPay, CASEpeer, and Docketwise, AffiniPay companies. She is the nationally-recognized author of "Cloud Computing for Lawyers" (2012) and co-authors "Social Media for Lawyers: The Next Frontier" (2010), both published by the American Bar Association. She also co-authors "Criminal Law in New York," a Thomson Reuters treatise. She writes regular columns for Above the Law, ABA Journal, and The Daily Record, has authored hundreds of articles for other publications, and regularly speaks at conferences regarding the intersection of law and emerging technologies. She is an ABA Legal Rebel, and is listed on the Fastcase 50 and ABA LTRC Women in Legal Tech. She can be contacted at [email protected].
Nicole Black is a Rochester, New York attorney, author, journalist, and Principal Legal Insight Strategist at MyCase, CASEpeer, Docketwise, and LawPay, practice management and payment processing tools for lawyers (AffiniPay companies). She is the nationally-recognized author of "Cloud Computing for Lawyers" (2012) and co-authors "Social Media for Lawyers: The Next Frontier" (2010), both published by the American Bar Association. She also co-authors "Criminal Law in New York," a Thomson Reuters treatise. She writes regular columns for Above the Law, ABA Journal, and The Daily Record, has authored hundreds of articles for other publications, and regularly speaks at conferences regarding the intersection of law and emerging technologies. She is an ABA Legal Rebel, and is listed on the Fastcase 50 and ABA LTRC Women in Legal Tech. She can be contacted at [email protected].