Since Richard Susskind released “The End of Lawyers?” in 2007, there have been some vocal people shouting about how lawyers are going to lose their jobs to machines, alternative legal service providers etc. The facts do not support these claims.

I always like to look at the Thompson Reuters State of the Legal Market Report each year. They show whether US law firm revenue has gone up or down in the year. If the doom-sayers were correct we should expect that there would have been a dramatic downturn in US law firm revenue since 2007. But no – have a look at the 2023 report (linked below), it shows that each year (except for an outlier with the GFC) the total for law firm revenue has gone up or down a couple of percent each year. For example in 2022, overall legal demand contracted by 0.1% compared a 3.7% growth rate recorded for 2021.

Think of the increase in: in-house lawyers; legaltech solutions; and alternative legal service providers since 2007. So the legal pie has gotten bigger for everyone.

The end of lawyers – I think not!

I am also bullish for the AI-enabled future of law – there are threats but lawyers with the right skills and who understand the new world will thrive

https://lnkd.in/guExnAZB

https://www.thomsonreuters.com/en-us/posts/legal/state-of-the-legal-market-2023/

#BreakthroughLawyer