“AI has already begun transforming legal practice by improving efficiency in legal research, document review, contract drafting and knowledge management. For law firms, the challenge is no longer whether to adopt AI but how to integrate it responsibly into everyday practice. The greatest risks relate to confidentiality, data security, accuracy and over-reliance on automated outputs. AI should support, rather than replace, professional judgement and legal expertise,” suggests the Managing Partner at Chrysses Demetriades & Co LLC, Michael McBride.
In an interview with GOLD magazine, McBride discusses the process of adopting AI for law firms, and envisions what the Cypriot legal profession will look like in the future.
The modernisation of Cyprus’ judicial system has faced a number of significant implementation challenges. With the Commercial and Admiralty Courts yet to become fully operational, the iJustice platform experiencing delays and case backlogs continuing to affect court efficiency, what do you believe are the principal barriers to successful reform? What recommendations would you make to ensure that various initiatives deliver their intended objectives?
The reform agenda is undoubtedly moving in the right direction, but implementation has not kept pace with expectations. Delays in rolling out digital infrastructure, limited resources and the complexity of institutional change have slowed progress. At the same time, the continued backlog of cases affects confidence in the justice system and the competitiveness of Cyprus as an international business centre. The priority should be the full implementation of the iJustice platform, supported by adequate investment in technology, judicial training and administrative resources. The operation of the Commercial and Admiralty Courts should also remain a key objective. Judicial reform must be accompanied by continuous evaluation, stakeholder consultation and measurable performance indicators to ensure that these important initiatives achieve their intended outcomes.
With the Screening of Foreign Direct Investments Law now in force, how does the new regime affect cross-border transactions?
The introduction of the FDI screening regime represents an important development in Cyprus’ investment framework and aligns the country with wider European practices on protecting strategic sectors. While it introduces an additional regulatory step for certain transactions, it should not be viewed as an obstacle to investment.
Rather, investors and advisers will need to incorporate regulatory assessments earlier in the transaction process, allowing sufficient time for approvals where required. Thorough due diligence and careful transaction planning will become even more important. Ultimately, a transparent and predictable screening regime can strengthen investor confidence by providing greater legal certainty while safeguarding national security and strategic economic interests.
What has the process of adopting AI been like for law firms?
AI has already begun transforming legal practice by improving efficiency in legal research, document review, contract drafting and knowledge management. For law firms, the challenge is no longer whether to adopt AI but how to integrate it responsibly into everyday practice. The greatest risks relate to confidentiality, data security, accuracy and over-reliance on automated outputs. AI should support, rather than replace, professional judgement and legal expertise. Firms must establish clear governance policies, provide continuous training and ensure appropriate human oversight. Those that embrace technology responsibly will enhance productivity and client service while maintaining the professional standards and ethical obligations that remain central to legal practice.
Inflation and rising operational costs are squeezing law firms. How are these challenges reflected in how lawyers conduct their business?
Rising operating costs have reinforced the need for law firms to become more efficient and commercially focused. Clients are increasingly seeking greater value, cost transparency and faster delivery without compromising quality. In response, firms are investing in technology, streamlining internal processes and adopting more efficient ways of working. At the same time, lawyers are expected to understand the commercial realities facing their clients and deliver practical, solution-oriented advice. Maintaining profitability today depends not only on legal excellence but also on operational efficiency, effective resource management and the ability to adapt quickly to changing market conditions while continuing to invest in talent and innovation.
How do you envision the Cypriot legal profession evolving by 2030? Do opportunities exist for expansion into new lines of business?
By 2030, I expect the legal profession in Cyprus to be significantly more technology-enabled, internationally connected and increasingly specialised. Routine legal work will continue to be automated, allowing lawyers to focus on strategic advisory services, dispute resolution and complex cross-border transactions. We also anticipate continued growth in areas such as AI regulation, cybersecurity, ESG, renewable energy, digital assets, investment funds and international arbitration. Cyprus has the opportunity to strengthen its position as a regional hub for legal and professional services by combining a modern regulatory framework with a highly skilled legal profession. Firms that invest in innovation, talent and multidisciplinary capabilities will be best placed to capitalise on these emerging opportunities while continuing to deliver trusted, high-quality legal service
This interview first appeared in the August edition of GOLD magazine. Click here to view it.
