According to many business forecasters and market statistics, Legal tech has been receiving a massive amount of investment worldwide. This makes us wonder what does it really mean for the Legal professional and how is that money being spent? 

It’s no secret that the legal industry is rapidly transforming and today, law firms and legal departments from all over the world are feeling the pressure to respond.

Perhaps it’s no wonder; clients expect better and more efficient customer service and law firms feel the need to stand out from the crowd.

Property technology, better known as Proptech, has become one of the major topics that are discussed in the real estate market with billions of dollars invested towards innovating and enhancing it.

In fact, the first two quarters of 2019 witnessed record-breaking investments of $12.9 billion streamed into proptech advancements.

Going to the local jurisdictions and wasting your precious time on the administrative processes for compliance regulations is a matter of the past!

Legal tech is becoming increasingly popular among big players in the legal sector and among the influencers and leaders of this sector. We can agree that there are many advancements in it and that it is bringing the sector to adapt to modern changes. However, in this article, we will walk you through the return of investment in different types of those legal techs and how beneficial they can be for your practice both in the short and long term.

Not only are we in the digital era, but we’re also in the era that brings awareness to our planet. Reducing emissions and the use of fossil fuels, we are learning more and more about ways to reduce our carbon footprint. Let alone how the COVID19 pandemic has helped this reduction.

The law of supply and demand is reshaping the global labor market again. There is an incredible rise in remote work practices and that is transforming the way companies operate and build their cultures. 

Hoy en día, los sistemas de inteligencia artificial están ganando cada vez más importancia para las tecnologías jurídicas o legal tech. Al mismo tiempo, las inversiones en tecnología al servicio del derecho se están disparando y eso se debe principalmente a que la demanda de nuevas herramientas innovadoras que mejoren los procesos legales es mayor que nunca.

Artificial Intelligence systems are becoming significantly important to Legal technologies nowadays. We can all see how AI has already found a way to support advocates and clients positively and efficiently. At the same time, the investments in the legal tech are skyrocketing and that is mainly because the demand for new innovative tools that enhance the legal process is higher than ever.

Read about how Primer Grupo, one of the leading real estate providers in the region, achieved extraordinary results using the Bigle Legal document automation software.