The legal industry is changing in a mode that no one would expect: the change recently became accelerated, and it won’t take long before we witness a completely new transformation.
Though automation of the legal industry won’t be a dramatic change for many, legal software has the capacity of influencing all the aspects of work for companies and individuals: it’s there to transform the quality and speed of work, the supervision and management.
Most lawyers were rather skeptical about these changes a couple of years ago thinking that automation is rare and nonthreatening. Meanwhile last year start-ups in the legal tech industry raised more than $400million in revenues.
Given the specifications and the narrowed industry requirements, this sounds like a lot, doesn’t it?
1. Big changes are coming fast, just not from the usual quarters.
This seems to be the time when legal companies and departments have to pay a lot of attention on how they position themselves in this situation. Change is something that happens irrespective of whether we want it to or not, but the way we react to it is always up to our own decisions.
2. There are several options:
walk in hand with the new technology,
stick to the usual way of work without paying much attention to the way technology develops,
or just take some time to decide how to position your company and which way to choose.
3. Competition is actually really tough nowadays.
With lots of companies accelerating their processes and making them more error-free, aren’t you missing on the competition? The fact-paced and ever changing reality of today demands you to always stay current with whatever is happening around you.
These issues are worth a think. They are worth making a decision about. They are worth your time.