Legal Technology Trends Every Law Firm Should Use To Succeed
The legal field is no stranger to technology. In fact, the practice of law has been transformed by it more than nearly any other industry. Over the past few decades, however, as digital documents have become commonplace and email a default form of communication between partners and clients alike, law firms have seen an increased need to adapt their businesses with new processes and procedures in order to thrive in today’s market.
Many law firms around the world are utilizing all sorts of technology to streamline various business and day-to-day functions in order to cut costs and remain competitive in terms of client service. Here we will look at some trends that law firms should embrace if they want to survive in this new technological environment.
Digital Transformation
Law firms and lawyers should implement as many legal technology trends as possible to succeed in today’s technological world. As this digital age continues to rapidly evolve, we see digital tools and techniques seeping into every industry – including law. Many lawyers are still hesitant to fully embrace the many benefits of new technologies, but it’s increasingly becoming apparent that if they don’t adapt quickly, their businesses will be left behind. Digital transformation would allow the law firms to provide better service to their clients and also save massive amounts of time and money, while also increasing security. If you’re looking for insights on the latest legal technology trends that can help your law firm succeed, be sure to check out this guide to law firm software on PracticePanther.
Artificial Intelligence
AI is delivering results in the legal field. Despite what one may expect, law offices of all sizes and shapes are investing in AI to scale up business, save on costs and tap into new forms of marketing. Artificial intelligence has changed how we read documents and intake information. Artificial intelligence is allowing lawyers to effectively review thousands of pages of documents in a minute, which would otherwise take several hours to complete. This is an amazing feat that has left most laymen and professionals shocked, and the reason why many law firms are delivering results with AI efficiently. With AI, law firms are also delivering research reports on legal issues, delivering interview summaries and alerts based on keywords. Lawyers are able to focus their time on more complex cases that require human interaction.
Introduction Of Cybersecurity
Cybersecurity is the practice of protecting computer systems from digital attacks. Cybercrimes are running rampant and there seems to be no end in sight. Large corporations, banks, and even local governments have all been victims of these attacks including the United States Military. Law firms have not escaped either as they too have been victims of the latest hacking trend, ransomware. A type of malware that encrypts data and renders it unusable until a ransom is paid to the hackers.
Law firms are an obvious target for these cybercriminals since they hold sensitive information which can be worth upwards of $500 per record. They hold email conversations with their clients, personal financial details, corporate information, and highly confidential information. Law firms’ software solutions must be updated with the latest protection to safeguard against hacking. This should include updates for anti-malware, anti-virus, spam filters, firewall protection, two-factor authentication, and email encryption.
Automation
To handle today’s heavier workloads, attorneys need to maximize their time by reducing or eliminating repetitive tasks. One way that law firms are streamlining work is through the use of automated legal research services that allow you to search hundreds of legal topics at once and get case law in a matter of seconds. You can save valuable hours each day by using these services to review your research instead of digging through several different resources. It’s a legal technology that’s quickly adapted by large and small law firms. You can also maximize your time by using workflow automation. The software will organize and prioritize cases based on their deadlines so you can stay focused and meet all of your legal needs as efficiently as possible.
Legal Practice Management
A top-notch legal practice management software is essential for running an efficient law firm, but many attorneys wait too long before investing in this technology. These systems are capable of automatically generating invoices, sending out bills to clients, tracking time spent on each project and much more. To get the most out of your investment, be sure that your software is compatible with the latest technologies because the last thing you want is for it to become obsolete in six months or a year.
Legal technology is changing the face of law in ways not thought possible just a few short years ago. With artificial intelligence, lawyers are able to review thousands of pages in minutes instead of hours with software solutions that can do it for them. The workforce has adapted to these new technologies and legal practice management systems assist with streamlining work.
