Unprecedented technological change offers solicitors exciting opportunities to innovate in ways that benefit clients, technological innovators and the legal profession.
Capturing Technological Innovation in Legal Services offers insights from those on the front line of technological change and reveals a legal sector that is increasingly engaging with advanced automation. It also introduces the possibility of combining machine learning and artificial intelligence (AI) with the skills held by the profession to engage with complex legal concepts.
There are obstacles to innovation in the legal sector: while three-quarters of firms surveyed agreed that innovation is critical to exploiting opportunities and standing our from the crowd, more than half said they were likely to wait for others to pioneer new technologies.
However, there are still a large number of innovators in the legal sector who are eager to promote a revolution in the way legal services are delivered. The legal sector is brimming with innovators looking for the next opportunity, or going out and creating that next opportunity for themselves.
The report details the products, processes and strategies we use where technology and new ways of thinking and working are making big changes. From Bitcoin, machine learning and 'lawyers on demand', we see solicitors taking advantage of new opportunities to reshape the legal services sector.