How will technology impact law firms? Although firms are not yet completely automated by artificial intelligence (AI), the legal technology software industry is rapidly expanding with innovative services that greatly support operations. We gathered commentary from some of our partners (who are trendsetters in the industry!) and got their two cents on legal transaction management platforms, automated litigation support software programs, artificial intelligence and the future of law practice.
Theorem’s founder Josh Maley has noticed cloud migration and no-code workflow automation is currently trending in law firms. He mentioned that firms using legal technology solutions are increasingly integrating their core stack—a legal sandbox of applications, so to say—into their existing attorney workflow methods and infrastructure. Similarly, our partners at Wicker Hamilton have observed an increasing opportunity for using legal software for law firms. However, they noted that there are some integral functions in law practice that can only be performed by a human lawyer. That’s where deal management platforms such as dealcloser and other litigation aid services and staffing agencies such as our partner Lawfecta come into play. As Lawfecta’s Stacey Lake wonderfully said, law firms can use these “services as an extension of their business.”
According to our partners at LegalEase, one of the main advantages of adopting legal technology software is cost savings because it allows for affordable, effective and efficient operations. Additionally, firms can use these technologies to cost predictability which supports firms’ plans to improve their spending.
As for the future of law? Wicker Hamilton’s Matthew Pecoraro and Emeka Jemade anticipate further use of AI and legal software for law firms. Canada and the United States have begun delving into modern and innovative technologies. There now is an increased appeal for UK firms to venture away from traditional litigation methods. Josh Maley predicts greater transparency on pricing and better-established standards for litigation services. And as mentioned above, he predicts further ease and seamless interconnection of services from an assortment of legal tech applications.
Tech is the trend, and it’s time for your firm to jump on the bandwagon. Ditch the paper and adopt a paperless law office software. Keep your eyes peeled on the blog to keep up-to-date with our monthly Partner Profiles and legal tech news!