New research has revealed four in five (79%) UK lawyers believe AI will have a high or transformational impact on the legal profession within the next half a decade, up 11 percentage points from 2023.
The 2024 Future of Professionals report by Thomson Reuters highlights the positive impacts of artificial intelligence on the industry, but also reveals growing concern about the pace of development.
Notably, the study found that nearly one in three (29%) worry that their firms are moving too slowly to adopt AI.
Lawyers are preparing for AI’s transformational benefits
UK lawyers have already witnessed AI dramatically impacting legal services, with those using such tools noting enhanced client services and improvements to time efficiency. According to Reuters’ research, UK lawyers could be at the forefront of AI adoption globally.
Three in four (73%) see AI as a force for good, with an overwhelming majority (92%) believeing that it’s ethically acceptable to use AI for basic drafting – a higher acceptance rate than in any other region surveyed.
Half (54%) now anticipate that their work will incorporate AI-powered tools within the next five years, but despite the optimism, Britain’s lawyers are more worried about their US and Canada counterparts when it comes to their companies’ readiness.
Kriti Sharma, Chief Product Officer for Legal Tech at Thomson Reuters, summarized: “As a profession, lawyers are acutely aware of AI’s potential – and UK lawyers are among the most enthusiastic, with many keen for their companies to embrace AI faster.”
Sharma indicated that AI technologies promise to complement human workers rather than replace them: “It has rapidly become evident that lawyers won’t lose their jobs to AI but they may lose their job to another lawyer using AI.”
Looking ahead, it’s clear that companies both within and outside of the legal sector must act quickly to adopt AI tools or risk being left behind.
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