Recent years have seen significant advancements in Natural Language Processing (NLP), particularly with the development of Large Language Models (LLMs) like GPT. These advancements, coupled with continuous improvements in data accessibility and computational resources, have markedly enhanced the capacity of LegalTech companies to automate complex text analysis. According to Goldman Sachs, Artificial Intelligence could replace as much as 40% of legal work.
The right legal knowledge management (KM) systems could help your firm to improve collaboration, reduce time spent searching for information, and provide legal expertise to clients both faster and more effectively. A truly comprehensive system can provide endless benefits to organisations looking to make the most of collective expertise by enabling the capture and centralisation of knowledge hidden within the minds of experts.
The law is a tough place to make it, particularly for young ‘hotshots’. Even in fictionalised versions of the profession, newly qualified legal talent always has a mentor or senior level support. For fans of Suits, every Mike Ross needs a Harvey Specter. The trouble is that the rates for senior and junior legal counsel are not always clear and don’t reflect the fact juniors rely heavily on their more experienced peers. In this piece, we will examine the relationship between the two rates and look at how technology might impact this going forward.
The legal industry is entering its automation era. This month, Lord Justice Birss shared that he had used ChatGPT to write part of a judgement - the first known use by a British judge. Earlier this year,
Allen & Overy introduced an AI chatbot to help draft contracts and a Thomson Reuters Institute survey found that 82% of the lawyers it surveyed said they believe ChatGPT and generative AI can be readily applied to legal work, with 51% saying it should be applied.
In a nutshell, ILTACON, the world's largest legaltech conference, marked its 43rd edition at Disneyworld Orlando. Organized by the International Legal Tech Association (ILTA), this event saw over 3,400 attendees, half of whom were ILTA members. Spread across different hotels, ILTACON featured parallel sessions catering to diverse backgrounds, two expansive exhibition halls spanning over 400,000 square feet, making it an undeniably massive affair.
As the support for Microsoft's Server 2012 and 2012 R2 reaches its end of life, Ian Bedford, general manager for Access Managed Services at Access Legal, discusses the challenges faced by law firms that delay the switch to alternative servers. He also explores how firms can leverage this change to optimise their IT infrastructure.
From generative AI to cloud transitions, the legal technology stack has transformed during the last few years – and even months.* The network of systems law firms rely on to deliver legal advice has expanded exponentially, and it is becoming increasingly more complex. Managing all of the siloed applications needed for legal workflows can be a demanding and time-consuming process. This can put significant pressure on a law firm’s IT team.
Using legal technology is such a fundamental requirement for the modern lawyer that it should no longer be necessary to talk about the need to improve basic skills. However, conversations with technology training and service desk professionals paint a worrying picture in which some of the most commonly used desktop applications are not being used to their full potential simply because of lack of knowledge.
In the first of two articles, Chris Giles and Chris Hockey drew on their experience to suggest why law firms now need to take information governance (IG) more seriously and how they should start with the creation of an IG policy. In this piece we cover how you can then make IG truly effective in the firm via the right steering committee, oversight and controls.
How do you embed information governance (IG) in a law firm? Ownership is a critical component. Change management needs to be deployed so that everyone in the firm understands the importance of IG and takes some responsibility for their part in it.
As legal IT specialists and a full-service iManage Partner, Tiger Eye support customers to work efficiently and boost productivity through technology solutions for every step of the document and email journey.
With building industry pressure to maintain quality client service and produce increasingly efficient results, it is now more important than ever that firms focus on continuous improvement to meet clients’ needs. However, whilst law firm innovation is an increasingly popular topic in the legal sector (including at key industry events), the process can seem unattainable to some. With big-name global firms investing heavily in product development incubators and online services, it can seem that innovation is only attainable for the largest of firms.
Why do law firms need information governance (IG) more than ever, and how should they implement it? Over two articles, Chris Giles offers a sector-wide perspective and Chris Hockey draws on his experience of implementing IG at a mid-sized US firm. In Part 1 we discuss why IG matters, where it should sit, and policy creation.
Information has always been the lifeblood of law firms, but now its stewardship has become a critical discipline for firms to master. This is partly because the volume of data is growing quickly. To provide a quality service to clients, lawyers, including those who work remotely, must be able to retrieve the right information easily and securely without wasting any time. Firms also need oversight to identify gaps in information systems or procedures that when filled will make information flow more efficiently.
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