T+O+M BLOG

It’s no secret that the legal sector is notorious for being a little slow when it comes to embracing change. But I was still surprised to read that, according to a recent survey by the International Bar Association (IBA), many legal professionals still view AI as a "next year problem." This approach, essentially putting AI on the back burner, suggests that many law firms and in-house teams are delaying their adoption of artificial intelligence.

As someone who works closely with legal professionals across the financial services and corporate governance space, I can tell you that the need for AI integration is much more urgent than the survey suggests. AI is no longer just a "futuristic" concept—it’s already starting to reshape how legal teams work, and it's only going to become more ingrained in day-to-day operations.

Why the Delay?

A big reason for the delay, I think, is that many legal professionals are still unsure about how AI will affect their roles, particularly in terms of job security and workflows. There's understandable hesitation around new technology, especially when it feels like it's coming at a rapid pace and the implications aren’t fully clear.

But in reality, the legal sector is at risk of falling behind if it doesn’t adopt AI sooner rather than later. Firms that take a "wait and see" approach are already losing out on efficiency gains and the ability to stay competitive.

The Reality on the Ground

In my conversations with candidates and clients in the legal and governance space, there’s a noticeable shift in how AI is being perceived. Those who are proactively exploring AI are seeing the huge potential it has to streamline tasks, reduce costs, and improve the overall client experience. AI tools can handle everything from document review to risk assessment, freeing up lawyers to focus on more strategic, value-add work.

On the other hand, firms that continue to view AI as something for the distant future risk missing the boat. Clients will expect AI-powered solutions to be a part of their legal services. Those firms that are too slow to catch up could find themselves playing catch-up, or worse, losing business to more forward-thinking competitors.

The Competitive Edge

AI isn’t just about staying relevant—it’s about gaining a competitive edge. Early adopters of AI are using it to enhance productivity and streamline operations, which in turn allows them to offer better, faster services to clients. For firms, this means staying ahead of the curve in a highly competitive market.

If law firms and in-house teams delay AI adoption any longer, they might find themselves at a significant disadvantage. The demand for AI skills in legal roles is already growing, and it’s clear that those who can work with AI will have an advantage in the job market.

What’s Next?

We’re at a pivotal point in the legal industry. Firms need to embrace AI now, not later. The longer they put it off, the more difficult it will be to catch up. It’s no longer a question of "if" AI will change the legal profession, but "when" and "how" they choose to adopt it.

In conclusion, AI is already reshaping the way legal teams operate, and those that take a proactive approach to its integration will be better positioned for the future. It's time for the legal sector to stop treating AI as a "next year problem" and start treating it as an immediate opportunity to improve and innovate.