Lawyers in successful law firms understand their systems and
workflows and they leverage technology to improve efficiency and quality in
addition to offering great client experience. Law firms have adopted legal
technology not only because it is good but also because it makes their work
easier and better too. The technology has been growing rapidly and it is
affecting the work of practising lawyers in various ways. Here is how
technology is changing the legal sector.
Legal AI is assisting lawyers in their practice
Artificial Intelligence is helping lawyers in their
practice. Some legal technologies like predictive coding and machine learning
have already taken root, especially in digesting information and contract
reviews for disclosure. Artificial intelligence software has had a significant
effect on the daily operations of most legal firms. Commercial firms are
setting up teams to exploit the many opportunities the legal technology
presents. In addition to document review, clients can access the processes and
know the progress of their cases or transactions.
Legal technology has made will writing easier
Law firms see will writing as low-hanging fruit.
Traditionally, solicitors and other law professionals have enjoyed it. However,
today, the field is susceptible to automation. Technologist lawyers have been
working hard to come up with a good algorithm for the last 20 years. Farewill
is among the digital companies offering online wills and allowing solicitor-led
teams to examine them for accuracy. The company claims that it has already
established itself as the industry leader.
Blockchain is cutting out the middlemen in the legal industry
Most lawyers believe that blockchain will eat into their
traditional income sources but that is not the case. Large law firms are
working to establish standards for smart contracts based on blockchain. Such
contracts will self-activate after several verifiable steps are reached.
Blockchain is more like a distributed ledger technology consisting of identical
ledger copies stored in many computers. They are therefore more secure,
versatile and they are likely to cut out middlemen from the legal industry –
the lawyer in many legal scenarios. Blockchain is already being used to
safeguard digital trail bundles and to prevent alteration of data entered in
systems.
Legal chatbots and robot lawyers
For a law firm website to compete for the online interest,
it had to develop an attractive website some years ago. Today, technologist
lawyers are developing robot lawyers and legal chatbots. You can now interact
with a lawyer 24/7 and get the services you need immediately. Chatbots deliver
answers to enquiries instantly and organize for face-to-face meetings if
necessary. They are bridging the gap between online clients and law firms.
Legal software improves operational efficiency
Software developers are now focused on providing legal software programs that can facilitate
the smooth operation of law firms. They are releasing a wide range of
applications to help improve management of cases, marketing and other internal
operations of law firms in addition to services. With a good software program,
law firms can collect data about their clients or legal matters and process it
to comply with all the data protection laws. Law firm managers can also collect
data to check the function of their firms. That way, they can serve their
clients in a better way and remain ahead of their competitors.
The legal industry has gone through many changes within the
last two decades. The workforce has become more mobile and tech-savvy but
seemingly, the changes are coming faster. As a result, legal firms and corporate
law departments have changed. For them, choosing the right software is
important. Mobile applications and data safety are important too.