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Complex regulation biggest in-house challenge

A survey of in-house lawyers in Ireland has found high levels of job satisfaction, despite challenges caused by the complex regulatory landscape, cyber-threats, and AI.

According to the survey, 79% of in-house counsel believe that compliance with regulations will be a significant challenge over the next three years.

KPMG Law LLP’s General Counsel Outlook Report finds that “almost all” of those surveyed are asked to advise their organisations on non-legal issues, with one in five saying this happens constantly, and almost half saying that it happens regularly.

Satisfying

The report says that 93% of the 100 lawyers surveyed find their roles personally and professionally satisfying, with a similar percentage willing to recommend their career to a friend.

It also finds that 58% of in-house lawyers rate their work-life balance as ‘good’ or ‘excellent’, while two-thirds express a positive outlook on career progression.

KPMG Law described the approach to AI and technology found in the survey as “cautious yet progressive”.

While 85% of in-house counsel plan to increase their use of AI over the next three years, 73% have apprehensions about the accuracy of generative AI tools in legal applications.

AI improvements

Nevertheless, 65% of respondents are optimistic that AI will enable them and their teams to concentrate on higher-value workloads, and two in five acknowledge that AI has significantly improved the efficiency of legal research.

Almost half of the 100 respondents (45%) plan to increase their team size over the next three years.

The report also finds a strong preference for hybrid working, with 76% of in-house lawyers expecting to work from home two to three days a week.

Derek Hegarty (partner, KPMG Law) said that the traditional legal sector of old was “long gone”.

“As new regulations are developed to tackle emerging threats, general counsel need to be agile and resilient. Using AI and other technology effectively will be crucial in managing these complexities,” he stated.