Fergus sets his view out here - I agree with his comments about the greater investment and adoption of technology although also think that these giant firms will not steer clear of the larger legal transactions. There is money to be made and they are impressive businesses to be competing against. We aren't looking to head into this area so i am relieved it won't be us competing with them head on. Fascinating times.
Providing reserved legal services in the taxation sphere will allow opportunities for the Big Four to capitalise on economies of scale; accountancy practices have already invested large sums in document review software and other technology that could be leveraged towards conducting data heavy, cross-border legal work at a lower cost than traditional law firms. The fact that accountants have adopted AI more rapidly than law firms, and that the Big Four have greater resources than most law firms may mean that tax practices within accountancy firms develop a technological edge over their rivals in law firms.