Technology has become a growing
trend in every business industry and legal is not an exception in this regards. There is no doubt that technology will
constantly impact the legal profession in the coming years
too.
Here are the technology trends that
will help lawyers and legal professionals to maintain better accuracy,
efficiency, and overall performance in their day-to-day activities:
Artificial Intelligence:
There
is a lot of pressure on lawyers and law firms to exceed client’s expectation.
Lawyers are still stuck in cumbersome, paper-based processes that are
inefficient and costly. The challenge lawyers are facing is not only high
competition but also to reduce their operating expenses.
With the help of this artificial intelligence,
they can manage their whole work without any assistance. A recent study by
McKinsey & Co estimates that 23% of lawyer time is automatable.
These AI tools work well in the unsupervised situation,
where the software operates without human interaction. Systems look for
patterns, relationships, and connections in unstructured data. For example,
you just need to put your raw data into the
system and those systems will give exact relevant information back to
you with a proper summary.
Virtual Law Firms:
In the coming years, we will also witness online legal services
that have wider scope and greater flexibility how and where legal professionals work. It will
change the landscape of the legal industry completely.
From virtual meetings to virtual legal assistance- everything
will become seamless with the help of cloud capabilities. And it will offer
a greater work and life balance for legal professionals overall.
Performance Measurements:
More than 50% of top global law firms today are using some
form of business intelligence to enhance performance management, and
surprisingly this number will hit 75% or higher in the coming years.
Electronic Discovery:
A few machine learning tools will help in the e-discovery
process. With the massive arrival of digital data like emails, texts,
voicemails, electronic calendars, etc., it has now open gate for analysis in
legal proceedings, and lawyers need help to process all of that information
quickly.
In other words, we can say that AI and
deep learning will go a long way to make legal processes less cumbersome,
and this will be a growing niche in the year 2019.
Cloud and Mobile:
Imagine you are in court fighting over a stressful legal issue when your lawyer suddenly
remembers: he left your files on his desk – back at the
office. What do you do that time? These are the issues that mobile and cloud
services help to eliminate.
Indeed,
the fastest growing sectors in the legal market are legal process outsourcers
and managed legal service providers employing both efficient processes and
technology to capture work from traditional legal service providers.
