With the highest level of STEM graduates per capita in the EU and high rankings in the share of employment within the knowledge-intensive service sector, Ireland is enjoying the fruits of its investment in high-quality education. Between 2014 to 2020, Irish universities saw domestic enrolment increase by 17.4%, with first-class honour graduates increasing to a total of 23.5%. Some 25% of Irish graduates come from business, administration and law courses, resulting in Ireland possessing the capacity to provide a high-skilled workforce to the legal services industry. AI Investment and Other Future Technologies The Irish government has made significant investments in the AI industry to generate a skilled, sizeable workforce to benefit business. With €700 million committed to research centres, helping 1,000 students secure PhD degrees in the past five years, and a further €100 million invested to support 700+ more PhD students, it is clear that the Irish government intends to make the country a hub for AI workers. In fact, Ireland holds a leading position in AI with the highest number of EurAI fellows per capita. They also hold the highest share of enterprises utilising AI in the EU, with the WEF regarding Ireland as the AI Rising Star, based on available talent pools and the quality of AI research. Certainly, Ireland has the available workforce to support law firm’s transition to fully digitalising processes. European Union Membership Ireland’s EU membership is also beneficial. As the world economy globalises and businesses become increasingly transnational, law firms find they must operate within foreign markets that have different legal systems to their home markets. Within the EU, however, laws are gradually becoming harmonised across member states, making it easier for law firms to operate in cross-border situations. 34 LAWYERMONTHLYNOVEMBER 2022
RkJQdWJsaXNoZXIy Mjk3Mzkz