Legal trends for the youth

An overview of current legal trends affecting young people.

In today’s rapidly changing world, the legal profession is continuously evolving to adapt to economic, cultural, and political trends. It is crucial for lawyers who want to remain responsive to their clients’ ever-changing legal needs, as well as for students considering a career in law, to stay informed about the following three legal trends that are currently shaping the industry.

1. Emphasis on sustainability and renewable energy.
   Climate change and sustainability have become global priorities, prompting many businesses to shift towards renewable energy projects and move away from traditional power grids, especially due to the severity of loadshedding. To stay relevant, it is advisable for aspiring lawyers to expand their knowledge in fields such as environmental law, climate change and sustainability, carbon trading, and renewable energy. In South Africa’s current climate, expertise in these areas can create significant opportunities for young lawyers looking to grow their practice.
2. Artificial Intelligence (AI) and technology law.
   The emergence of large language models (LLMs) like ChatGPT has generated excitement about how artificial intelligence (AI) will impact society and the economy as a whole. However, experts have raised concerns regarding the potential effects of LLMs on privacy and intellectual property. The legal field is also experiencing significant transformation as generative LLMs continue to evolve. The COVID-19 pandemic has already accelerated the digitization of our courts. Therefore, it is essential for law graduates to acquire knowledge in fields such as information technology, data privacy, intellectual property, and the ethics of AI. These areas will become increasingly important in the coming decades.
3. The ‘Metaverse’, NFTs and cryptocurrency.
   Technological innovations have given rise to exciting new concepts. The ‘Metaverse’ refers to a three-dimensional digital space that utilises virtual and augmented reality technologies. Meta, formerly known as Facebook, is a key player in this field. In the Metaverse, users can purchase content using real money or non-fungible tokens (NFTs). NFTs are unique digital assets assigned a distinct identifier through blockchain technology. They can represent digital art, files, music, and more. NFTs can be acquired using cryptocurrency or traditional currency. Cryptocurrency, a digital or virtual currency secured through cryptography and blockchain technology, is decentralized and not governed by a central authority, such as a reserve bank. Currently, these concepts are not widely understood, and regulations surrounding them are limited. Similar to LLMs and ChatGPT, having experience and knowledge in these areas may become increasingly valuable in the years to come as their true potential is uncovered and lawmakers recognize the need for appropriate regulation.

By staying abreast of these legal trends, law graduates can position themselves for success in an ever-evolving industry. The ability to adapt and specialise in these emerging fields will enable them to better serve their clients and contribute to the advancement of the legal profession as a whole.