Professor Richard Susskind has been referred to by the ABA Journal as “far and away the best analyst and predictor of the evolution of the legal marketplace,” making him the ideal expert to guide us through the transformative changes shaping the legal landscape. The series delved into the key drivers of change in the legal industry, the impact of artificial intelligence on legal services, the evolving role of in-house lawyers, and the challenges faced by BigLaw in the face of emerging alternative legal service providers.
The Shift Towards Outcome-Focused Strategies
Throughout the series, Susskind emphasized the importance of adopting an outcome-focused approach in the legal profession. He stressed the need for lawyers to understand and deliver on clients’ practical and emotional needs, rather than simply adhering to traditional methodologies. As Susskind put it, “Organizations don’t actually want in-house lawyers. What they want is the outcomes you bring… What we need to do is think deeply about the outcomes… and how you might deliver these outcomes more to a higher standard.”
Key Drivers of Change in the Legal Industry
Susskind identified three primary drivers of change in the legal market:
- The “more for less” challenge
- The rise of alternative legal service providers
- The transformative role of technology
He urged legal professionals to embrace these changes and adapt their strategies accordingly, stating, “The market will show no loyalty to our traditional ways of working. If AI systems emerge that can deliver the outcomes clients want in ways that are cheaper or more convenient, less costly, then the market, I think, will move to these alternative ways of working.”
The Impact of Artificial Intelligence on Legal Services
Susskind predicted a gradual yet significant impact of AI on the legal industry over the coming decade. He emphasized the need for legal professionals to move beyond mere automation and focus on innovation, leveraging technology to achieve previously unattainable outcomes. “We should be building the systems that replace our old ways of working. I don’t think it’s just an opportunity. I think it’s also an obligation,” Susskind stated, encouraging lawyers to take an active role in shaping the future of legal services.
The Future of In-House Lawyers and BigLaw Firms
The series also explored the evolving role of in-house lawyers and the challenges faced by BigLaw firms. Susskind argued that in-house lawyers must adopt a proactive, vision-based approach to strategy and develop a broader set of skills beyond traditional legal expertise. Meanwhile, BigLaw firms must embrace a more client-centric approach and explore new ways to deliver value beyond the billable hour model to remain competitive in the face of alternative legal service providers.
Dive deeper into the series
Want to explore more insights from Richard Susskind and our other expert speakers? Visit our dedicated Future of Law webinar series page, where you’ll find detailed summaries of each of the four webinars, along with exclusive video content.
