In today’s fast-paced legal landscape, firms are increasingly looking for ways to streamline their operations, reduce costs, and enhance the value they deliver to their clients. One of the most promising solutions for achieving these goals is workflow automation.
Are both vendors and firms trying too hard to be first movers, inadvertently neglecting two significant issues in legal technology — an ever increasing and uncontrollable amount of unstructured data, and a lack of clearly defined processes and paths to automation?
We often witness a “lightbulb moment” among prospective clients when they discover the potential of Autologyx’s data-driven process engine. The initial reaction is a blend of amazement and excitement: “Wow, that’s incredible! You can tackle all those problems our other systems can’t!” The possibilities seem endless.
Technology has now crossed the line into something at best closely resembling human output in the form of large language model-based AI, and the narrative of what mature legal service delivery might look like has changed overnight. We’re struggling to merge the huge potential of this new capability with yesterday’s picture — how do we integrate this magic box, loosely linked to huge sets of data and able to produce sophisticated outputs based on any variations of a prompt — in other words, something quite like us?
When Adidas looked at developing a running shoe to beat the Nike Alphafly, which Eliud Kipchoge wore when he broke the then mens marathon world record in 2022, they started with the data.
If the process of running can be improved by starting with the data, perhaps the same can be said of your legal processes.
Document automation in legal has been a thing since the 1990’s and it continues to grow.
There are many technology vendors which either just do document automation or incorporate the capability as part of a wider feature set. This rise in vendors and strategic acquisitions has made it a very challenging for buyers because of the increase in choice and solution fit assessment required.
A big theme at ILTACON 2022 was one of interoperability and integrations. Workflows and the tools that support them should not remain siloed in point solutions and where possible be integrated into the wider tech stack to provide more value and enable the sharing of data and outcomes.
Our working lives have dramatically changed with the onset of remote working. The jury is still out on the pros and cons of shifting away from centralised office life, yet a fundamental truth has not changed: our ability to concoct the right mix of people, process and technology impacts a host of downstream implications for our businesses.
Law firms have access to volumes of data. Data about themselves, their people, how they practice, metrics regarding utilisation and profitability and also an immense amount of client data. However almost all firms, are data rich but information poor.