Transcript: 2024 Law Firms' Survey - Cyber tops concerns in a complex risk landscape

Transcript

Mark Anderson: As law firms increasingly adopt GenAI and other emerging technologies, this is bringing additional risks that firms must manage and mitigate.

So it's not surprising to see cyber return to the top of the key risk list for law firms this year, with 90% of the top 100 firms concerned about its impact on achieving future business objectives.

And the evolving nature of cyber threats emphasises the importance of law firms incorporating both human risk and supply chain resilience into their cyber strategies.

Yet not all firms are increasing investment in this area. It's vital that security leaders articulate the need for continued investment to keep pace with the evolution of the sophistication of threats.

And cyber risk can't be viewed in isolation. Geopolitical instability, the speed of tech change and supply chain disruption are all key concerns for law firms. And these risks are all increasingly complex and interconnected.

This means firms need to take a more joined up strategic approach to managing risk and resilience to both protect and create value.

Download our latest Law Firms’ Survey to find out how firms can build greater resilience and adapt and respond to the opportunities and challenges ahead.