Luminance’s Emily Foges on the advance of legal tech
In 2019, relationships between different legal service providers are a driving force for the adoption of legal technology. Following the emergence of true artificial intelligence (AI) within the market, the rate of adoption is gathering speed in firms and organisations as technology has increasingly become a competitive necessity. True AI harnesses the latest advances in machine learning solutions to empower lawyers to return to the first principles of law; fulfilling the time-honoured role of trusted adviser. This ground-breaking technology also serves to eliminate some of the historic barriers to adoption. Flexible, ‘learning’ algorithms are able to adapt to any document set and law firm, regardless of language, jurisdiction or specialism. This delivers value from day one, eliminating the need for resource and time-sapping configuration periods needed by extraction and rules-based systems. The real difference this time is that lawyers no longer need to adapt their professional processes to accommodate new solutions. Continue reading “Legal technology sponsored briefing: The Network Effect – How the AI-powered legal profession is gathering pace”
K2 Intelligence’s Darren Matthews on what successful asset search and recovery looks like
Understanding the form, value and recoverability of an adversary’s assets is an essential part of legal strategy in any dispute. What may appear relatively simple – locating material assets and determining their value – invariably turns complex when assets are held through multi-level corporate structures layered over multiple jurisdictions. Methods used to hide assets are becoming more sophisticated and asset-recovery experts must keep up to date with the latest asset-searching techniques, practices and technologies. Understanding the form, value and recoverability of an adversary’s assets is an essential part of legal strategy in any dispute. What may appear relatively simple – locating material assets and determining their value – invariably turns complex when assets are held through multi-level corporate structures layered over multiple jurisdictions. Methods used to hide assets are becoming more sophisticated and asset-recovery experts must keep up to date with the latest asset-searching techniques, practices and technologies. Continue reading “Sponsored briefing: Tracing assets – what you need to know”
Hamish McNicol, Legal Business: What are the changes people have made in their business in the last 18 months that made the most impact?
Axel Koelsch, Addleshaw Goddard: When I joined Addleshaw I noticed the firm had done lots of innovative things, including paralegals up north, but they were scattered all over. We pulled those things together. When I was talking with clients, they do not think of those as six different things. They just have business problems they need to solve. Bringing all these new ways of working together allows you to start solving clients’ problems and not the law firm’s problems. Continue reading “We have the technology – Re-engineering a law firm”
LB’s autumn law tech special assesses the tools and the talent at the City’s largest law firms Continue reading “Law tech special: Let there be light”
With alternative legal services arms at Global 100 law firms in full swing, and innovation and technology experts striving to make those firms relevant and responsive to the demands of increasingly value-conscious clients, it is fair to say the future is now.
But the traditional role of the lawyer is perhaps facing its biggest existential crisis now as those new demands challenge what legal practice means today. Will the lawyer of 2030 render the celebrated black-letter technicians and swashbuckling dealmakers obsolete? Continue reading “The technology debate: Ctrl+Alt+Delete”
The future is hard to predict in the combustible world of law tech start-ups. But recent big funding rounds for some of the industry’s darlings signal an increasing maturity in the space with Kira, Apperio, Eigen Technologies and Legatics all receiving hefty funding rounds in recent months.
Kira further secured its spot as the leading AI platform for law firms after landing a record $50m of private equity backing from New York-based Insight Venture Partners in September. The investment was the first external backing for the company since its inception, with the machine-learning contract analysis platform now primed for continued growth. Continue reading “Mixing it with the big boys: Law tech upstarts approach adolescence following cash influx”