Can Legal Tech change the game?
Discover 5 practical ways technology can (and does) revolutionise the legal profession.
Technology has the potential to revolutionize the legal profession. With competition seemingly increasing by the day legal tech can be leveraged to gain a competitive advantage over rival firms as well as just improve the way in which a team operates and grows. However, the phrase “legal tech” can be difficult to compartmentalise: what falls within its definition? This article sets out some of the ways that technology can and indeed does improve the service lawyers offer.
1. Analytics
Most lay people and indeed most lawyers would likely mention analytics in some form when asked what they think legal tech involves. It can take many forms and serve many purposes depending on the particular software used.
Predictive analytics can be used to identify patterns and trends in large amounts of data, which can be very useful in areas like contract analysis and legal research. Natural Language Processing can help lawyers to review and understand complex legal documents without having a highly technical background. This allows them to identify potential areas of risk and make decisions more quickly without being concerned for the usual human margin for error.
Beyond this, the process of e-discovery is another example of where analytics software can be used within a legal context. This involves the identification, preservation, collection, and analysis of electronic data from and relating to a particular legal case. Technology can help to streamline this process because it identifies relevant documents (and the data therein) faster than a human being could. The concept of machine-learning then compounds the process allowing the system to gradually become more efficient with each time it is used.
2. Automation
One of the most substantial forms of waste within the legal industry is that of skill. Highly training and skilled individuals have to contend with a number of mundane, repetitive task which become necessary for them to do their job. Think of a partner having to review standard documents, or a senior associate being left to analyse a contract.
Technology can be used to automate many of these repetitive tasks that lawyers often have to perform. For example, the two scenarios above could be dealt with by using software to quickly search through large amounts of text to find relevant information. This can save lawyers a significant amount of time and allow them to focus on more complex high-value work. This ultimately allows them to increase the amount they bill on behalf of themselves or their firm.
3. Communication
Legal tech isn’t just cutting-edge processes and complex coding. It has already been fully incorporated into the genome of the legal profession in a way many wouldn’t think to mention if asked about it. Email, instant messaging, and video conferencing tools all make it easier for lawyers to stay in touch with one another and with clients, regardless of their location.
This is somewhat taken for granted in the modern day, but just think of how you and the people around you react when the Wi-Fi goes down in the office. When considering how much of an impact technology could have on the legal profession in the future, it is useful to remember what an impact it has already had.
4. Cyber-Security
Very few lawyers will profess that cyber-security training is their favourite part of the job, but it is one which is becoming increasingly important. Cyber-attacks have progressed far beyond the classic “Nigerian Prince” scenario: indeed, phising and vishing are but two tools in the modern cyber-criminal's arsenal.
Law firm’s store large quantities of confidential and sensitive client information and often these are solely stored via electronic means. This stresses the importance of sophisticated password, case and content management systems. GDPR has heightened awareness of the need for data security within the legal profession: the best way to implement this is by using technology as our friend not treating it as a foe.
Cyber-Security has been addressed in a previous article on our blog and if you are interested in reading more about this topic.
5. Research
Aside from communication, research is the area of law currently most heavily impacted by legal tech. Online summaries of legal cases and precedents are plentiful: practitioners might wonder how they would survive without Practical Law and students likewise without Lexis Nexis.
As the software becomes more sophisticated, many databases are using Natural Language Processing to find the intent behind a search query. Clearly this has utility where a lawyer is looking to identify specific legal points and precedents within an area of law, they are unfamiliar with.
Consulting & Technology
Technology is a great enabler for improving how lawyers operate and its applications extend well beyond the examples set out in this article. With so many options available now, the danger is that legal projects become technology led rather than solution focused.
Vario’s Consulting & Technology team are aware to this issue and combat it by following a “discover, design, deliver” framework bespoke to each individual client matter. The focus within each on finding a blend of quality, relevance and simplicity to determine which solutions will actually add value to a lawyer or their legal team.
Technology cannot yet replace the human judgement and expertise; it merely serves to enhance it. If you’d like to find out more, please contact our team to find out more.