In the decade leading up to the economic downturn, revenues in the legal sector grew steadily every year. But that has changed. What is more, the pace of change continues to accelerate as new non-traditional competitors emerge, technologies evolve, and client demands for cheaper more efficient services threaten firms’ profitability.
The speed of evolution is such that, looking just five years into the future, we can predict even more major changes for law firms.
Ark Group and Managing Partner’s new book – 2020 Vision: The Future of Legal Services – brings together the advice of leading industry practitioners and consultants who scan the legal horizon for indicators of change, offer their predictions, and share experience and practical guidance to help law firm leaders prepare for what is coming up next.
The Future of Legal Services features:
- Patrick J. McKenna – Identifying, analyzing and constructing new opportunities out of future trends
- Patrick Johansen – Evolving pricing functions into a value-focused proposition
- Thomas Berman – Why making certain technology and business changes will be essential for most firms
- Deborah McMurray – Having a better understanding of your clients’ needs to keep you ahead of your competition
- Patrick J. McKenna – How shared leadership is increasingly being seen as win-win strategy
- Jim Hassett – Legal project management: An opportunity for firms to gain a competitive advantage
- Jill King – The “future normal”: Adapting to the millennial generation’s expectations
- Chrissie Lightfoot – Integrating artificial intelligence (AI) into the legal profession
2020 Vision: The Future of Legal Services then closes with two intensely forward-looking pieces from Tim Mohan, and Steven J. Harper, which offer bold predictions for the evolution of the profession over the next five years.
In this fast-moving, competitive, increasingly varied environment, only the most agile firms – those able to respond rapidly to future trends – are likely to succeed.
