Krinick Shares His Prediction for 2025 with Long Island Business News
January 3, 2025 | | | |Long Island business leaders shared their projections and industry insight for 2025 with Long Island Business News.
When interviewed, Rivkin Radler Managing Partner Evan Krinick said, “The trends that impacted law firms in 2024 will be accelerated in 2025. Leading the charge will be increased utilization of technology–primarily artificial intelligence–into the day-to-day provision of legal services. While legal technology can never replace the nuanced judgment of attorneys, it can and will become an essential tool that clients will expect their lawyers to incorporate into their practice.
The strategic integration of all aspects of technology with human expertise will be at the core of reducing client costs and increasing attorney efficiency. Whether through technology or old fashioned values, client satisfaction is derived from attorneys being responsive, accessible and candid.
The change of administrations in Washington will drive the growth of crypto currency and the concomitant need for legal guidance. Other areas, such as immigration, will also see a rising need for legal services due to expected legislative and regulatory changes. New tax policy will also drive legal demand in the wealth transfer area. Litigation will remain robust, and there will be a rise in the activities of state and local governments to compensate for expected curtailment of federal programs and benefits. The local real estate and banking sectors will slowly return to action but only in the latter stages of the year.
Cyber security remains on the top of the list as the issue most likely to keep law firm leaders up at night.
I wish everyone a healthy and prosperous 2025.”
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