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Law 2023: A Look Ahead
The future of the legal industry isn't what it used to be. Or so says a recent report issued by Law2023.org, a group of industry insiders ' including this writer ' who spent a year studying the trajectory of the legal marketplace. The approach and the findings are surprising in a number of ways, but also refreshing. The future presents both disruptive change and extraordinary opportunity, for both incumbents and newcomers.
Most views of the legal industry, particularly those posed by insiders, naturally adopt an inside-out approach, or, in other words, an approach that assumes the industry will have a say in how the future develops because we see it coming. However, reality often presents obstacles or opportunities that are unforeseen by those deep inside. New entrants to evolving markets often have very different perspectives, unaffiliated with the status quo, allowing them to create disruptions and carve out new opportunities. But even this approach assumes there's a clear view of the future, with different parties simply having different vantage points. What if we ignore the current state and look at the future under a different lens, envisioning how global economic, technological, and cultural change will be manifest a decade from now, and then envision a law firm built to address this world?
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