Back to the Future II

It’s Back to the Future II as we assess the dominant trends from the Law Society’s second survey of the solicitors’ profession. What are the major challenges, how are solicitors facing them – and what opportunities lie on the horizon? Mark Garrett dons the smart glasses

The results of the Society’s second survey of solicitors are in and, while there is a lot of detail to analyse yet, there are a few dominant trends and clear feedback emerging.

Yes, there are real challenges causing concern. What is also clear is that solicitors are planning and thinking strategically about what is on the horizon – how they will navigate it, how they can diversify, and where the Law Society can add value.

More than 1,660 practising solicitors responded to the survey and offered their views on where the profession might be in 2030.

The profession is wise to today’s challenges and tomorrow’s opportunities. It doesn’t matter what role (sole practitioner, equity partner, associate solicitor) you do – the role that technology, regulation, and international investment plays is inevitable in your career future and is a business reality.

We live in a time where uncertainty is certain, disruption constant, growth uneven. The legal landscape is evolving, and so must we. The results of this second survey of the profession reaffirm this message.

What it also highlights, yet again, is that solicitors are problem-solvers and strategic thinkers and are navigating this changing landscape.

This is a future-focused survey. Where does the profession want to be in a few years’ time, what areas of practice are emerging, and how can the Law Society assist them in getting there – while ensuring high standards and the most effective and impactful regulatory foundations?

It all reflects the overall desire and commitment of the profession to thrive. That said, it is clear that not everyone, everywhere, is feeling the same.

Today’s challenges

The top five challenges revealed from the survey recognise the domestic and global environment:

• Cybersecurity and cybercrime – net: 88% challenging,
• Regulations and compliance – net: 82% challenging,
• Keeping pace with technology – net: 81% challenging,
• Recruitment and retention (legal staff) – net: 80% challenging,
• International political environment – net: 73% challenging.

As we all know, in the first half of this year, geopolitics and the bond markets have, unfortunately, been to the fore, and this is having a natural ripple effect into major business decision-making.

It is significant that solicitors have highly ranked this challenge at present – and it is one that they see persisting.

Business success in the profession is connected to national economic success, as is demonstrated by the responses to possible opportunities in the next five years. These top challenges are consistent with the results of the 2023 survey.

Cyber-issues

Cybercrime and cybersecurity remain a very live issue. It is reassuring to read that, despite cyber-issues being a significant challenge, 95% of respondents are ‘aware of the protections on data, systems, and accounts in my workplace’, with 92% also ‘clear on the actions I must take if a cyber-breach occurs’.

That said, 63% of solicitors who completed the survey would like more ‘upskilling/information on the increasing sophistication of cyber-threats’.

Whether as a crime or security, cyber-issues are going to be a constant in legal and other professional workplaces. Indeed, when asked where new areas of practice might grow over the next five years, technology is where it’s at.

In all, 27% of solicitors believe that AI will generate additional work, while 21% believe that technology/cyber will grow.

For the Law Society’s part, the respondents are saying that they would like more guidance and information in these areas, and they place a value on this.

Regulation concerns

The increasing and necessary regulatory requirements are causing strain. As part of this survey, respondents have indicated where they see some solace, with increased information now available on anti-money-laundering toolkits, and targeted CPD on regulatory compliance and risk.

The in-house community, both in the commercial and public sectors, now represent approximately 27% of the profession.

Managing increasing regulation, such as ESG, registered a net 53% significant issue for in-house solicitors. They will be monitoring the international political environment and offering counsel to their employers in terms of any potential impact.

Working directly for one client within the business unit, they see additional issues:

• A lack of resources (staff, precedents, IT, etc) – net: 64% significant issue,
• A lack of career progression – net: 56% significant issue, and
• A sense of disconnect from other inhouse colleagues in areas of knowledge-sharing and networking – net: 56% significant issue.

Tomorrow’s world

In considering the opportunities that the profession sees, it is worth noting the connection, or indeed co-dependency, with challenges like cybercrime, increased regulations, and investment in Ireland.

Overall, the top five opportunities, as rated by the respondents, are:

• New technologies, including artificial intelligence (AI) – net significant opportunity: 52%,
• Supporting employer against cybercrime (in-house practitioners): 49%,
• Growth in the Irish economy: 43%,
• Managing and using data: 38%, and
• Alternative dispute resolution: 38%.

Looking to the next five years, 47% of solicitors say that they are optimistic – up six points on 2023, while 25% are pessimistic – down four points on 2023. In all, 28% of respondents say that they are neither optimistic nor pessimistic.

When asked about growth over the next five years in their areas of work or business, 51% expect work to grow (including 21% who say it will ‘grow a lot’), with 14% saying work will deteriorate (including 3% ‘deteriorate a lot’). A total of 32% expect work to remain stable.

Solicitors are future-focused and are looking at the emerging areas of practice and considering upskilling for diversification of service. In all, 46% indicated that they would undertake additional training and education to further develop their expertise.

Very noteworthy from the survey is the number of practitioners using AI for work purposes. While 78% of respondents anticipate their use of AI in their work will increase over the next five years, just 5% are using it every other day. This rises to 11% for weekly use.

Despite the buzz around legal AI, 45% of respondents have never used it. Delving deeper into this, the main reasons signalled behind the hesitancy include a need to upskill further to better understand AI and a need for more ethical guidance.

Jobs list

In terms of the work of the Law Society, respondents have sent some clear requests, and it is now up to the Law Society to respond.

Overall, 50% of solicitors believe that the Law Society is doing a good or better job, while 17% think it’s poor. A total of 33% say it’s ‘fair’.

There is little change in the top-five priorities that the Law Society should be focusing on:

• Representation of the solicitors’ profession (78%),
• Delivering high-quality education to trainees (72%),
• Contributing to and advising on new legislation, regulatory requirements, and law reform (70%),
• Maintaining high standards and regulatory compliance (67%), and
• Providing a good quality and relevant CPD offering (63%).

A key tenet of the Law Society’s strategy is to position the organisation proactively – ready to shape and embrace future legislative, regulatory, and other change on behalf of, and in support of, solicitors and the public interest.

This includes an outward focus to demonstrate the expertise and the experience of practising solicitors and to ensure that the Law Society and the solicitors’ profession are a significant and positive contributor to justice and law reform and the public interest.

I am confident that, as the year continues, the impact and value of the profession will be more visible.

Future focus

For the Law Society, this survey is a tool to help the profession to thrive. By better understanding the key issues and opportunities on practitioners’ desks– the issues you are dealing with today – it helps to shape the focus of the Law Society in designing and executing its services and priorities.

Respondents come from firm sizes from one to 200-plus members. The survey provides a robust insight for legal peers of what the key obstacles are – and that no one is alone when it comes to navigating a changing work environment.

Solicitors are busy people, so I do thank you for taking the time to respond. The results are data rich, and I look forward to working through them – and sharing more with you in the future. 

Mark Garrett is Director General of the Law Society of Ireland.