Thomson Reuters quotes Simon Ridpath on the state of the 2024 UK legal market

In a webinar titled: "The State of the UK Legal Market in 2024", hosted by Thomson Reuters, a panel of legal leaders convened to discuss the evolving landscape of the UK legal sector. The content coming out of that webinar provides a comprehensive overview for legal professionals on the current trends and future outlook of the UK legal industry. 

Our Firm's Mananging Partner, Simon Ridpath, was one of the legal leaders taking part in this webinar, and comments on a variety of different themes affecting the sector:

Generative AI

I think the client feedback is: how are you going to use it on my matters for cost saving? Will it be one of those things that we can benefit from? I think, from our perspective, it’s making sure that we’re able to be really transparent with clients around how we intend to use it and what the benefits will be.

Client expectation and law firm responses

The traditional fear of engagement with law firms – because time spent is ‘on the clock’ – actually leads to circumstances where your information is filtered or limited to a task or problem.  In my experience firms offer the best service to clients when they see the whole picture, as it is then on them to deliver advice that is sensitive to wider challenges in the business.

The importance of ESG in legal practices

I think the prospect of regulation in this space – where it is not in place already – as well as a wider social recognition of the requirement as an employer and business to be responsible means it is a significant factor for many corporate clients.  We have a large private client business. There, the requirement is more subtle as it is driven through philanthropy or sustainability as a landowner for example rather than regulation and employment. It’s no less relevant.

Read the full article on the Thomson Reuters website here.