New technology and its effect on the legal sector
Legal services sector forecasts 2017-2025, a report from the Law Society, reveals that growth in overall legal sector employment will most likely decline, as a result of “increasing adoption of new technology and new working methods,” among other causes. Increases in productivity brought about by technological improvements could help to mitigate the effects of job losses, the report predicts, with Legal Futures suggesting that law firms must adopt the relevant technology to prepare for coming changes. Working in the cloud, digital dictation and automation, and chatbots and AI are listed as areas which will prove to be of increasing importance in coming years. Andrew Davies, managing director of SpeechWrite, says that in order to mitigate any long-term threats posed to the legal sector by technology, the best thing that law firms can do is to adopt it and use it to their commercial advantage before their competitors.