The Significance
The proliferation of tech-centric law firm C-suite roles has been rapid, particularly in recent months. Finding the right talent, however, has not necessarily been easy, and in many instances it has required luring stars away from other industries.
For example, in the course of one month this past spring, Latham & Watkins, Cleary Gottlieb Steen & Hamilton, DLA Piper and Reed Smith all hired technology specialists in newly created roles, sourcing their candidates from major banks, consulting firms, legal tech providers and other law firms. A similar trend followed just a few months later, with four additional tech-centric C-suite moves occurring at law firms in a matter of weeks, including at McGuireWoods, Fragomen, Del Rey, Bernsen & Loewy, Lowenstein Sandler and Freshfields. And in July, Cooley made headlines when it hired its first-ever CINO, nabbing David Wang from Wilson Sonsini, where he also created the role of CINO in 2020.
Echoing Curtis’s earlier sentiments that the differentiator would be not the generative AI tools themselves, but rather how teams use them and staff around them, newly minted McGuireWoods Chief Innovation and Artificial Intelligence Officer Thomas Trujillo noted at the time of his hire that the challenge for law firms is truly understanding how they plan to use generative AI. “Because, in fact, how we use something might be much different than how another firm does, just because we approach business differently, or are set up to operate differently,” he said. “So you have really got to figure out what it means for your firm. And that takes time, patience and resources.”
Given this individualistic approach, the C-suite titles emerging at law firms are proving to be anything but formulaic. In addition to Trujilo’s chief innovation and artificial intelligence officer (CIAIO?) title, we’ve seen the emergence of a wide-ranging titles including CIIO (chief innovation and information officer), chief innovation and value officer (CIVO), chief process and AI officer, chief data and AI officer (CDAIO) and more.
As firms continue to strive to differentiate themselves in the generative AI arena, the game of C-suite musical chairs will likely continue to play out in the coming months.
The Information
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The Forecast
The veritable alphabet soup of law firm AI titles aside, the techification of the law firm C-suite is a trend that can be expected to continue through the rest of this year and into next. As generative AI tools themselves—and the industry’s understanding of them—continue to mature, the need for AI-focused roles will only increase.
While the shift may not be as monumental as the oft-predicted death of the billable hour, this AI-driven shift in the management structures across Big Law is a sign that not only is the technology here to stay, but that it’s already changing business models in an industry long-averse to change.
The game of musical chairs is not over, but no one will want to be the last one standing.