The legal industry is navigating a period of rapid transformation shaped by evolving client expectations, emerging technologies, economic uncertainty, and political pressure. For this year’s first State of Practice Report, Bloomberg Law surveyed more than 750 legal professionals to understand the realities of firms and legal departments today.
Key findings:
- While AI use is now commonplace, four in 10 law firm respondents say their firm does not disclose attorney AI use on client bills at all.
- About a third of respondents from mid-sized firms say their firm has spun up specialized, cross functional teams for data center matters, and that number increases as firm size increases.
- Half of law firm respondents from the largest firms with knowledge of client transactions say that deals have been put on hold due to geopolitical risk, and a quarter say clients have exited, or are expected to exit, deals altogether.
Download the full report for expert analysis and actionable insights on the trends redefining legal practice right now.