Reed Smith is pleased to announce that the firm has again achieved top rankings from The Financial Times (FT) in its annual North America Innovative Lawyers Report 2024.
Reed Smith was further named a “Law Firm of the Year” finalist at this year’s FT Innovative Lawyer Awards for the second year in a row.
In its 2024 report, the FT placed Reed Smith’s global Life Sciences and Health Care Industry Practice Group in its highest tier. The publisher also honored the firm in the AI Strategy, Digital Legal Products, and Using Data categories.
Practice of law
- Healthcare and Life Sciences: “Stand-Out”
Reed Smith was named a “Stand-Out” for advising on reproductive and maternal health care issues. The report highlighted an amicus brief filed in the U.S. Supreme Court, which focused on the economic impacts of state restrictions in the Emergency Medical Treatment and Labor Act.
The brief, supported by prominent members of the business community, was co-authored by partners Jim Martin, Sarah Cummings Stewart and Patrick Yingling with associate Sarah Johansen, who garnered the category’s highest score for Leadership in the Healthcare and Life Sciences category
- AI Strategy: “Highly Commended”
The FT highly commended the firm’s ongoing efforts to harness the power and potential of AI, emphasizing the firm’s multifaceted explorations of generative AI led by Richard Robbins, the firm’s first director of applied AI, and Brian Blaho, director of global research.
Reed Smith also was honored for its “broader effort to enhance business systems,” spearheaded by Dave Cunningham, Reed Smith’s chief innovation officer; and the cutting-edge AI work of its data solutions subsidiary, Gravity Stack, led by Managing Director Bryon Bratcher. - Digital Legal Products: “Highly Commended”
Reed Smith was highly commended for an innovative global vendor conflicts solution that employed the firm’s proprietary due diligence platform for client Brookfield Properties. The project, led by Entertainment & Media partner Jason Gordon and Emerging Technologies Chair Robert Newman, received the second highest scores for Originality and Impact in the Digital Legal Products category. - Using Data: “Commended”
Reed Smith’s automated, tailored, interactive Data Inventory Survey Tool (DIST) also was highlighted in the FT report. Led by Practice Innovation Senior Manager Allison Duncan and Records & E-Discovery Chair David Cohen, the DIST team worked collaboratively across practice areas to craft this practical, user-centric tool that helps client gather and aggregate information more efficiently at lower cost.
For the second year in a row, Reed Smith also was nominated for Law Firm of the Year at the corresponding FT North America Innovative Lawyers Awards held on Dec. 9 in New York City. At the 2024 awards, the firm was a finalist in the categories of Innovation in Digital Legal Products, Generative AI Strategy, Innovation in Using Data, and Innovative Lawyers in Healthcare & Life Sciences.
Standing in law firm index
On the FT’s annual Law Firm Tech Index, Reed Smith has now ranked among the top 20 most innovative law firms in North America for the past three years in a row. Overall, Reed Smith ranked #15 among 35 firms that made the 2024 Index. The firm also ranked #15 in 2023, up from #19 in 2022. Additionally, Reed Smith received the #3 highest overall score for Digital, the #11 highest score for Innovation, and tied for #14 in Social Responsibility.
Commentary
In the 2024 report, Emerging Technologies partner Gerry Stegmaier was quoted on how law firms are safeguarding against the risks that come with expanded legal innovation.
“Lawyers who are familiar with and expert in AI and the other skills required for excellence will be much better positioned to adapt to change, now and in the future,” Stegmaier said.
Original source can be found here.