The Significance While we may not yet be at a full David vs. Goliath final battle, Big Law should start viewing their mid-market counterparts as viable competitors, if they’re not already. The more midsize firms explore generative AI and other technologies and realize the tangible benefits—and not just hype—they bring, the more they’ll start to implement them, and the more competitive they’ll become. And it’s not just the clients who are noticing. Tech-enabled midsize firms are positioning themselves as attractive employers for top talent as well. In decades past, the move from Big Law to midsize firms often meant choosing between quality of work or quality of life. Now, midsize firms are competing for complex cases and major clients, while also offering the same quality of life they were always known for, if not better. Big Law, on the other hand, is still stuck on one side of the equation. They offer the quality of work—a pie that the mid-market is consistently eating into—but they’re not coming around on the quality of life. If anything, many are obstinately swimming upstream against it. The pandemic brought with it remote work, and, as it turns out, a lot of attorneys liked it. Now, law firms are implementing ever-stricter return to office policies, continually increasing the required number of in-office days, despite the demonstrated effectiveness of technology and remote work during the pandemic. And they’re doing it in the face of survey after survey that shows that associates detest firms that prioritize profits over people, are unhappy with return to office policies, and would leave their jobs for better work-life balance. The time for midsize firms to make a play for these unhappy yet talented associates is now, when they can offer the perfect storm of top work and ideal lifestyle, both enabled by technology. The Information Want to know more? Here's what we've discovered in the ALM Global Newsroom: Midsize Firms Punch Above Their Weight to Win Big Clients Generative AI Slated to Shake Up Competition in Big, Midsize Law Market Technology Is the Great Equalizer in a Hybrid Workforce AI Dominates While Midsize Firms Gain Steam: Takeaways from ABA Techshow 2024 Mid-Market Roundup: Where to Look for Industry Growth 'Cautious But Optimistic': After Slow Adoption, Midsize Firms See Vast Potential For Gen AI The New Normal in Office Work Is Here, but Lawyers Still Aren't Happy With It A 'Sweatshop'? Lawyers Detest Law Firm Cultures That Emphasize Profitability Big Law's Return-to-Office Journey Still Not Complete, but More Settled Now The Forecast The mid-market will likely be seen as even more of a competitive threat in the coming year and beyond. As generative AI tools become more widespread, and as the prices of those tools come down, the capacity of these firms to do more with less staff and fewer resources, and to court top clients, will only increase, allowing them to gain even more of a competitive advantage against their Big Law counterparts. As the mid-market strengthens, more Big Law talent who only previously considered jumping ship will start to turn thought into action, unless their employers make a concerted effort to retain them. While a few firms have started to decrease office size in favor of more modern, flexible work environments, plenty of firms are holding steady on a course set for traditional offices with five-day, in-office work weeks, relying on pedigree to attract talent, as it long has. If they refuse to deviate and consider new paths, they risk losing attorneys who want more modern careers. David may not win the battle this year, but technology has opened the doors to Goliath’s arena. | 