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Top 50 Executives in Legal Business
Interview with Péter Göndöcz, Managing Partner, Deloitte Legal Göndöcz and Partners Law Firm
Background Info
I was born and raised in Pécs, and my connection to this exceptional city runs deep. I attended the local Cistercian-order ran secondar school and I am also a proud graduate of the University of Pécs, where I obtained a degree in both Business & Economics and Political Science in addition to my degree in law. The values and foundations instilled in me by my family and my alma maters have played a pivotal role in shaping who I am today. On more personal note, I am a proud father of three wonderful kids and find myself very fortunate to have a loving and supporting wife, who herself happens to be a lawyer as well. I'm also a passionate football fan. I enjoy attending football matches to support my favorite team, FTC, and, of course, I'm a big fan of the Hungarian national football team. What makes it even more special is that now my kids have grown a bit, they also join me at some of these exciting events.
How has the legal profession changed since you qualified and which change was the biggest challenge for you?
The legal profession has undergone significant transformations since I qualified. One of the most notable changes has been the increasing complexity and rapid evolution of laws and regulations and the use of technology in everyday application of law. This shift necessitates that as lawyers, we must adapt to these changes and stay updated, which can sometimes be quite challenging.
The integration of advanced technology has greatly impacted our profession and enhanced the execution of legal tasks. This shift towards greater technological reliance demands lawyers to be exceptionally fast, comprehensive, and flexible in their approach to meet the evolving demands of the legal profession.
For me personally, the biggest challenge has been the need to maintain focus on the truly important aspects of our work. Both the business and legal landscape now contain an ever-changing and growing, massive volume of information, constant buzz, and numerous opportunities. Amidst this sea of data and distractions, it's crucial to exercise caution and wisdom to prioritize and concentrate on those things that truly matter. This challenge of information overload and discernment requires continuous diligence and adaptability to ensure effective navigation in the ever-changing legal environment.
How do you expect digitization and artificial intelligence to affect the legal profession?
I expect a substantial impact of generative AI on our legal profession. Based on available studies and research, a substantial portion of the legal work that lawyers currently handle could and will likely be automated by AI-driven solutions. I fully embrace this viewpoint as it aligns with the evolving landscape of our profession.
In my perspective, the integration of AI will reshape legal tasks. Simple and standardized tasks are likely to be efficiently managed with the use of AI, leaving lawyers with more time for the complex and meaningful aspects of our profession. This transition will allow us to focus on tasks and areas that inherently require human-to-human interaction, such as complex legal strategies and negotiations. As a result, the legal profession stands to become more efficient, agile, and value-driven, providing opportunities for lawyers to engage in more intellectually stimulating and higher-value work.
Overall, despite the growing role of AI in handling tasks that were traditionally performed by lawyers, I believe that the more AI takes over in various aspects of our everyday life, the more it will create additional work opportunities for lawyers, so the overall volume of legal work may not necessarily decrease significantly.
Technology aside, what will be the next significant legal trend to shape the market here?
When considering the next significant legal trend to shape the market, it's important to recognize that virtually all trends are interconnected with technology and its associated aspects, such as operational efficiency, evolving client expectations and talent management. However, if I were to identify a trend somewhat distinct from technology, I would emphasize the growing need for flexibility.
Flexibility is not only a response to the challenges brought about by technology but also addresses the changing demand for emerging areas of law, such as Environmental, Social, and Governance (ESG) and AI Law. The legal profession is witnessing an increasing demand for expertise in these new and dynamic fields, which presents both opportunities and challenges. The legal profession is poised for transformation, and it will require concerted effort to not only keep pace with these changes but also to stay ahead and provide effective and value-based legal solutions to our Clients.
Given that Hungary has a very tight labor market in almost all fields, are you concerned about finding enough suitably qualified junior lawyers?
We recently hired junior lawyers for three of our practices this summer, and I'm pleased to say that we encountered a surprisingly extensive pool of highly qualified candidates. These individuals demonstrated exceptional training, impressive academic achievements, and a strong commitment to their legal careers. Additionally, it's worth noting that there has been a slight uptick in the number of law students in Hungarian universities in recent years. This trend suggests that there will be a steady supply of law graduates in the coming years, contributing to the availability of qualified junior lawyers.
Our firm has a strong commitment to staying at the forefront of our industry, which includes aligning with the expectations and needs of new generations. Given the quality and quantity of talent we've encountered, I'm not concerned about our ability to find suitably qualified junior lawyers to support our firm's continued growth and success.