How Legal Technology is Changing the Industry

“Legal technology is the incorporation of technology and software to provide and aid legal services. The technology has opened multiple avenues for reputable firms across the country trying to improve their competence and adapt to the progressive, agile working environment. Law firms associate improved efficiencies and cost savings with legal tech.”

Caroline Lee, Co-Founder CocoSign

Blockchain for Legal Professionals

“Legal technologies, in particular, the use of artificial intelligence systems in combination with Big Data analytics will rapidly decrease expenditures in both time and resources in terms of rapidly reducing the number of legal documents to be reviewed while simultaneously reducing the manpower needed for that review. Blockchain is another solution that will become ever more adopted in the legal field to secure and authenticate legal contracts. Given the immutability and transparency of the ledger system, blockchain technologies will become the de facto ‘Internet 2.0’ for legal professionals.”

Steven Umbrello, Managing Director Institute for Ethics and Emerging Technologies, Editor-In-Chief International Journal of Technoethics

Artificial Intelligence Saving Lawyers’ Time

“The state of AI in the legal industry is still in its infancy. In 2019, AI is the unseen engine that drives numerous off-the-shelf legal technology tools for lawyers. AI is embedded in products from legal research products, contract analysis, e-discovery and e-billing. The #1 challenge to further AI adoption in the legal industry is making sure that human lawyers understand how to better utilize these new AI tools to help their law practice. The number 1 benefit of AI to lawyers is that it will save lawyers time from doing laborious routine tasks that can instead be completed in seconds compared to hours, days or weeks. Countless hours wasted doing legal research will now be able to be completed in a fraction of a second. The future of AI in the legal sector is limitless.” 

David Reischer, Esq. Attorney & CEO of LegalAdvice.com

Virtual Hearings

“Technology is significantly changing the way legal services are provided, but it has less to do with technology designed for law firms than with each court’s adoption of new technology. My practice has been entirely virtual for the past year and the courts I most frequently practice in are conducting hearings by Zoom or WebEx, accepting pleadings signed in DocuSign or SignRequest, and are accepting verified pleadings that are notarized electronically. With services being done virtually, I have represented clients through their entire traffic matter without having seen their faces.”

Max Pepper is an attorney with Missouri Ticket Fixers

Online Dispute Resolution

“Legal technology is changing the industry for everyone – from court workers and attorneys to defendants. To use Online Dispute Resolution platforms as an example, ODR improves efficiencies for courts, and increases revenue, because cases often move much faster online than in person. There are also benefits for defendants, who won’t lose income from having to take time off work to attend an in-person hearing, and for attorneys who also might not need to attend for minor or straightforward matters. Plus, right now, ODR is protecting all hearing participants from COVID, because you can’t catch the virus during an online hearing.”

Jarrett Gorlin, founder and CEO of Judicial Innovations

Automation and Legal Management

“The modern legal system is not left out when it comes to embracing technology to better its operation. One notable change brought by legal technology is the automation of legal processes. Doing this is proving to be more beneficial as it reduces the manual intervention in activities. It also provides data and metrics to enable law practitioners to identify chances of process improvement and reengineering. The second transformation brought by legal technology is knowledge management and sharing. We are past the error of hardcopy guide books and legal documents. Thanks to legal technology, players in the industry now have several ways to capture and share knowledge. The new knowledge management platforms are essential in improving collaboration between lawyers and other lawyers and lawyers and their clients. Social collaboration tools are also valuable for sharing knowledge and opinions in real-time and gathering knowledge and guidance to capitalize on legal teams’ collective responsibilities involved. There is also data security which is still drawing some debate on whether it is secure or not. While most lawyers embrace it, some think that cloud technology is less private and vulnerable to cyber threats. Those embracing it are doing so to improve the agility and effectiveness of their processes.”

Miranda Yan, Co-Founder of VinPit

Data-Driven Strategies

“Contemporary technologies motivate premium solutions to implement top-notch data-driven decisions throughout various industries. One of the significant changes in the legalized sector is nowadays supporting big data to boost data-driven strategies and make sure more strategic decision-making ability. Such ingenious creation promises countless amenities in the long run. In a nutshell, it helps boost automated processes, gives ease of research, provides better resource management, enhances transparency, more convenience, ennobled customer experience, and declines the risk of errors. Therefore, legal technology is gradually changing the industry’s working process by enabling customers access to legal justice and easing the law practice for lawyers and legal professionals. Lastly, 80% of the law companies will acquire smart contracts, predictive analytics, and decision support tools in the upcoming days.”

Eden Cheng, Founder WeInvoice

The legal Industry is without a doubt slowly but surely transforming as it integrates high-tech innovations into its practices. From convenience, time-saving to improved research and practice using AI, the possibilities are endless and show a positive outcome for all involved in the legal process.