Using a new action plan specifically created for law firms, based on Thomson Reuters’ third annual “Future of Professionals Report”, law firm leaders can gain a clear pathway for their firms to develop and implement AI strategies to stay competitive in an increasingly AI-driven legal market
Key findings:
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AI’s impact on the legal industry — AI is expected to have the biggest impact on the legal industry over the next five years, with a large majority of law firm respondents anticipating that AI will fundamentally alter their businesses.
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Lacking a clear AI strategy — Despite the recognition of AI’s transformative power, nearly one-third of law firm professionals say they believe their firms are moving too slowly on AI adoption, and only about one-in-five say their firms have a visible AI strategy in place.
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Action plan offers a path to get there — The new action plan offers clear steps that law firm leaders can take now to build a framework of AI investment and adoption so they can see the competitive advantage of leveraging advanced technology.
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Not surprisingly, AI is the single driver set to have the biggest impact on the legal industry over the next five years, according to Thomson Reuters 2025 Future of Professionals Report, with 80% of law firm respondents expecting AI to fundamentally alter the course of how they conduct business.
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Future of Professionals Report 2025: Actionable insights for law firm leaders
It is not just speculation —in fact, the shift is well underway as almost half (47%) of law firm respondents say their firms are already experiencing at least one type of benefit from AI adoption.
However, for all the widespread recognition of the transformative power of AI and the rapid rate of adoption, there are still many firm leaders that have yet to start thinking about how they should be integrating AI into their workflows. Nearly one-third (32%) of those surveyed say their firms are moving too slowly on AI adoption, and just 22% say their firms have a visible AI strategy in place.
You can download your copy of the 2025 Future of Professionals Report here
And that could be a problem for laggard firms, because the research shows definitively that those law firms with an AI strategy are more likely to see benefits and a return on investment (ROI) than those firms without a plan. That gap — between those law firms with an AI strategy and those without one — exposes some serious risks for those law firms that have been slow to embrace technology as a strategic priority. The results of this gap could redefine law firm business models and create significant growth opportunities for firms that are effectively leveraging AI.
Clearly, strong guidance is needed for law firms to develop a well-defined strategy that will allow them to move forward in an increasingly AI-driven legal market. In a new paper, Future of Professionals Report 2025: Actionable insights for law firm leaders, specifically tailored to law firm professionals, we offer clear steps that law firms can take to build a framework of AI investment and adoption so they can see the ROI and competitive advantage of leveraging advanced technology.
This action plan draws from the perspectives of almost 1,000 law firm professionals — including partners, associates, lawyers, and paralegals from across the globe as well as clients — and discusses in detail how law firm professionals can align their AI strategy with their overall firm strategy and not just focus on improving operational efficiency.
Today, we’re entering a brave new world in the legal industry, led by rapid-fire AI-driven technological changes that will redefine conventional notions of how law firms operate, rearranging the ranks of industry leaders along the way.
The plan also talks about how law firms need to prioritize their early AI initiatives by, for example, creating two or three high-impact, high-feasibility pilot projects. This would help them similarly create a viable data strategy that includes having ways to manage, secure, and leverage data assets. The plan also outlines the importance for firms to invest in talent and training, while identifying any skills gaps among their professionals.
While the action plan describes many more such initial steps, it also details the ways firms can develop their AI roadmap and plot its objectives to specific use cases to help demonstrate early success and achieve firmwide goals.
“Today, we’re entering a brave new world in the legal industry, led by rapid-fire AI-driven technological changes that will redefine conventional notions of how law firms operate, rearranging the ranks of industry leaders along the way,” said Raghu Ramanathan, President of Legal Professionals at Thomson Reuters. “The insights in this action plan and the overall Future of Professionals Report serve as a guide on how not just to adapt, but to lead.”
Using these resources, law firm leaders will be better able to take control of their firms’ future, recognizing that embracing AI is no longer a choice — it is a necessity for success in today’s evolving legal landscape.
You can download
a full copy of the Future of Professionals Report 2025: Actionable insights for law firm leaders here
