In my latest talk at the annual conference at the ELTA (European Legal Tech Association) that took place in Madrid last 20, 21 & 22 of November 2019, I talked about how technology can help us as lawyers to expand our profession and to enhance our creativity. Us lawyers are inevitably bound to perform repetitive tasks that consume our time and drains our energy, and for that, Bigle Legal was born to take over those repetitive tasks and give us more space to focus on what is more important.
In fact, investment in LegalTech skyrocketed to $1 billion in 2018 - and much of this funding was injected into AI and machine learning platforms.
Every legal team knows embracing innovation can be a game-changer. But to what end? How can legal technology tools actually help you save time, provide better service, and make an impact on their bottom-line?
Well, sit back and relax - that’s exactly what this article will explore. We’ve curated a handful of case studies to demonstrate how global companies and firms have used legal innovation to propel themselves forward!
The legal industry isn’t what it used to be - and yes, that’s a good thing! The market has been revolutionized by the advent of legal technology and innovative tools. These new products have empowered law professionals to increase efficiency, save money, and work faster all around - whether they’re deep in e-discovery, conducting legal research, or managing contracts, etc.
But how is legal technology being received by firms and companies around the world? And how big of a splash is the industry really making?
In recent years, legal project management has become one of the most important skills for in-house legal teams to acquire. As law teams have increasingly been stepping up as operations managers, developing the right processes has become a central concern within many organizations.
In-house lawyers occupy a hybrid position where the traditional concerns of a lawyer merge with additional business challenges like working in a team and managing other employees. The project life cycle thus has a range of unique obstacles that private practices don’t encounter in the same way.
Recently, GQ magazine published a group photo featuring popular Silicon Valley tech executives on a trip to Italy. The photo included 15 men and two women - however something in the photo looked off. As Buzzfeed News discovered, the female CEOs had actually been photoshopped in - and consequently, people on Twitter weren’t very happy about it.
There’s no doubt that transparency is key for building trust in today’s business environment. And not telling the whole truth is not only a big faux pas for the brand, but also damaging to the group(s) that aren’t privy to what’s going on behind the curtain.
This year, creativity was named the most important skill in the world by Linkedin Learning. But as the learning platform argues, the ability to work creatively doesn’t mean everyone needs to know how to draw, design or write.
“Yes, an artist could be creative,” reads the article. “But so could a software engineer, a mathematician, a salesperson or a CEO.”
That’s because simply put: creativity means knowing how to solve a problem in a novel way.
Just as the legal industry is undergoing a rapid digital transformation, so too is the real estate sector, as new technology emerges to improve the way that people promote and develop property around the world.
There are plenty of game-changing proptech solutions out there, altering how customers buy and sell, and giving sector professionals new tools to improve the way they do business. Yet with so much change, it could seem impossible to keep up.
With extensive working hours, stressful cases and plenty of pressure to succeed, it seems only natural that many lawyers find their job difficult. In fact, a 2016 study by The American Bar Association (ABA), which questioned almost 13,000 working attorneys, showed that lawyers are the most unhappy professionals in the world.