Big Law Firms Are Turning To Project Managers In Response To New Competitive Threats
Big law firms are facing big challenges these days. With the rise of artificial intelligence and data analytics, new low-cost outsourcers are automating routine, high-volume legal work -- and raiding established firms' client lists. The upshot? Big organizations are feeling major downward price pressures and ramping up their pursuit of new efficiencies. Two-thirds of U.S. law firms say increasing efficiency is the primary effort they're making to be more competitive, according to an August 2017 Exterro Inc. survey. About half of firms said they're now "much more focused" on project management principles and technology than they were five years ago.