Krinick Shares His Prediction for 2024 with Long Island Business NewsJanuary 5, 2024 | |
Long Island business leaders shared their projections and industry insight for 2024 with Long Island Business News.
When interviewed, Rivkin Radler Managing Partner Even Krinick said, “the artificial intelligence revolution will be the most significant development in the legal industry. While its contours are not yet clearly defined, it is inevitable that successful law firms will need to embrace one or more of the generative artificial intelligence platforms developed and marketed to the industry to provide robust client service. Timely responses to client inquiries and anticipating client needs will be optimized by artificial intelligence tools. Beyond that, client costs and attorney efficiency will be positively impacted by thoughtful use of artificial intelligence.
Additionally, cyber security will continue to be the biggest risk in the industry, as even state-of-the-art programs and vigilant training are often inadequate defenses against savvy predators. Closer to home, the stagnating economy will depress the real estate and banking industries, reducing the demand for legal services, while litigation, estate and tax planning and health care matters will continue to percolate. As has always been the case, law firms that demonstrate empathy, trust, dependability and expertise will flourish.
Wishing all a new year filled with health, happiness and the fulfillment of your goals and dreams.”
To read the full article, please visit LIBN.
- Evan H. Krinick