Fast forward to 2018, though the winning companies have increased the use of technology internally, much of the innovation remains cultural and managerial: cloud based management tools, contract templates, and AI to analyse client communications. Which begs the question, is legal innovation really just cultural change?
A leading legal innovator, Rajesh Srenivasan says, ‘Technology is not a means to an end but a catalyst and an enabler for legal process re-engineering’, so whilst the cultural and managerial innovations have their place, it is more important that before that the way lawyers think is challenged to be more innovative.
Many in the legal industry fear technology may replace jobs, reduce billable hours and replace or de-position firms in the legal marketplace. However, the benefit of innovation will be freedom from busy work that currently defines the day-day work of many legal professionals. Streamlining repetitive activities could allow lawyers to spend more time delivering higher value strategic and creative service to their clients (Maya Markovich, Nextlaw Labs).
So what can we expect in the #futureoflaw?
The Centre for Legal Innovation Artificial Intelligence in Legal Practice Summit had some suggestions of what the #futureoflaw would be. The main questions asked were, how will the legal practice change? How can the legal industry change to meet the expectations of the clients and employees? Will the future be filled with self-service legal chatbots, automated documents and online courtrooms?
- Lawyering occurs in the zone of bespoke advice, of humanity. AI can’t work in this zone. AI will be valuable for the low value routine work.
- AI that allows clients to formulate their problem before approaching a lawyer to improve access to justice
- The risk of not using technology is that it will not wait for law firms to catch up.
Our next event will be exploring this topic further, and discussing how AI can be harnessed by the legal industry to improve processes, achieve greater efficiencies and improve profitability in the delivery of legal services.
This free event is filling up quickly – secure your spot here: https://lnkd.in/g3P2f5u