Law firms were slow to get started, but as our Innovative Firms 2016 report shows, they are now going well beyond words to reimagine the business of law.
Law firms have for many years heard the growing chorus of criticism from pundits and clients that they have not been adapting fast enough to keep up with change.
With the advent of NewLaw business models and an environment focused on cost, the calls for change over time have only grown more resounding and urgent.
Law firms have responded. As our Innovative Firms 2016 list proves, the industry is no longer paying lip service to innovation but is instead actively seeking to push itself beyond the comfort of existing business models, systems and processes, sometimes even disrupting their own models from within.
From an embrace of new business models, the development of useful technology and apps, and investments in getting close to the start-up sector, to the growing prevalence of artificial intelligence and innovation cultures bringing in ideas from all corners of their firms, today’s innovators are squaring up to the unknown future.
Australasian Lawyer congratulates the management and staff of the 30 innovative law firms in our 2016 list on their change-making efforts.
The destination may be unknown, but it’s clear that Australian firms are playing their part in the next exciting chapter of the global legal services industry.