“While overhead expenses continued to cool during the first part of 2024, tech spending remains especially hot,” Andrew Maloney noted in Law.com’s coverage of the Q1 2024 Thomson Reuters Law Firm Financial Index. “Taking inflation into account, law firms are investing in technology at their most rapid pace since at least 2014, the report noted. …
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Karen Sloan
“Embrace the litigators in your lives:” Reactions to the Latest Thomson Reuters Law Firm Financial Index
“Embrace the litigators in your lives” may sound like a Valentine’s Day lawyer meme, but it was Joe Patrice’s takeaway from the Q4 2023 Thomson Reuters Law Firm Financial Index. Journalists’ and bloggers’ coverage of the report, released last week, emphasized how law firms’ profits rebounded in 2023, driven by rate growth and stronger demand …
AI Insights from the 2024 Report on the State of the US Legal Market
AI is transforming every aspect of work across industries, and Thomson Reuters is at the forefront of revolutionizing how legal professionals work. The 2023 launch of AI-Assisted Research on Westlaw Precision was the first in a series of key legal product rollouts integrating generative AI. Later this month, generative AI capabilities will be introduced in …
2022 Highlights: The Importance of Cash and Culture in Lawyer Retention
With 2022 winding down, Legal Current is reflecting on the Legal Professionals business’s milestones from the year. Today we look at the Law Firms Competing for Talent in 2022: Will Lawyers Stay or Will They Go? report – and what a difference a few months makes. When the legal industry was buzzing about lawyer retention and …
Thomson Reuters Law Firm Financial Index: Technology Shines as a Growth Area
Despite gloomy headlines about the Thomson Reuters Q2 2022 Law Firm Financial Index, released earlier this week, the report findings saw “[a]reas of growth shine through,” including technology spending, as the Thomson Reuters Institute and others noted. The tech spending uptick was highlighted in Reuters Legal by reporter Karen Sloan: “Technology spending was also up …
ESG Resource Center: Insights for Lawyers Supporting Firm and Client ESG Initiatives
The Thomson Reuters Institute has launched an ESG resource center, offering insights for law firms, corporations, and governments on issues concerning environmental, social, and governance topics. “As the environmental, social and governance (ESG) movement gains momentum, law firms have been positioning themselves to provide ESG advice to their clients while also getting their own houses …
2021 Highlights: Law Firm Talents Wars
As 2021 winds down, Legal Current is looking back at the milestones and key accomplishments from the Legal Professionals business of Thomson Reuters. Today we look at three recent thought-leadership reports that provided insights into how law firms are handling the rising competition for talent: the 2021 Law Firm Business Leaders Report, the Q3 2021 …
