Alex Novarese, Legal Business: Looking at the top of the market, how is buying behaviour changing?
Donny Ching, Royal Dutch Shell: I see increasing sophistication in sourcing legal services. I am sure you all have experienced tenders and reverse tenders. More corporates are looking at using different tools, also driven by the contracting and procurement [C&P] organisation. Procuring legal services used to be the last bastion, where C&P could not touch. That is changing. We hired our own pricing analyst sourcing officer a couple of years ago. He has done phenomenal work and opened our eyes to what is possible. Continue reading “Irresistible forces”
‘Everyone is on their own voyage of discovery. But is any law firm leveraging AI in a material way? I don’t think they are – yet.’
Derek Southall, Gowling WLG
Can legal AI match the hype? Legal Business asks key figures about the future for law technology
‘Of course they’ll have prices, but then you’ll try to work your way around those prices. The reason you’re seeing lots of press releases that say “law firm signs up to use [tech provider] Kira” is because Kira will give you a discount if you do that. Honestly, “law firm uses Kira” isn’t really news, let’s be brutally honest. But Kira will say: “I’ll give you a 10% publicity discount if you do it.” Why not? Why wouldn’t I do that? That then helps Kira to tell a story that says Kira is already being used by Clifford Chance, Linklaters, Freshfields… Suddenly if I’m law firm number 72 and I see all these big law firms, I’m thinking, shit, I’d better use that too.’
Nick West, chief strategy officer, Mishcon de Reya
Continue reading “The last word: Machines and myths”
Mishcon de Reya has become the latest firm to embrace innovation in legal tech, today (16 January) launching an incubator programme for tech start-ups in the legal industry.
Continue reading “‘Innovation is happening’: Mishcon launches legal tech start-up scheme”
Intent on driving automation throughout the business, DLA Piper has partnered with Canadian tech firm Kira Systems to launch an artificial intelligence tool for document review during M&A transactions.
Continue reading “The robots keep coming: DLA Piper makes major AI play with Kira software deal”
CC’s David Bickerton says the profession is yet to master training the lawyers of the future
New entrants to the legal profession will be competing head on against Kim, the virtual assistant from Riverview Law, and Ross, IBM Watson’s ‘super-intelligent’ attorney, in delivering services to clients. Ross, unlike most of us, has the ability to research every resource of legal knowledge in seconds, and, even more impressive to the older ones among us, remember it.
Continue reading “Keeping up with Ross and Kim – the work to do on shaping the legal stars of tomorrow”
A new report released by Deloitte is warning law firms to prepare for changes as the rise of automation is likely to cut legal sector jobs by 39% over the next two decades.
Continue reading “Robot law: Deloitte estimates automation to cut legal sector jobs by 39% over the next two decades”
National law firm DAC Beachcroft took a £4.39m hit on a failed IT project as it tried to change its case management system internally, accounts reveal.
Continue reading “DAC Beachcroft takes £4m hit on failed IT project, LLP accounts reveal”
If a good chunk of the latest issue of Legal Business is focused on technology and machines replacing lawyers, our extended focus this month on private equity is an interesting contrast. After all, what good would a supercomputer be in the clubby, driven and entrepreneurial world of leveraged buyouts?
But then private equity has for years been an outlier in City law. Leading law firms built their businesses around banks and multinational clients, ushering in globalisation, one-stop-shopping and customer relationship management programmes.
Continue reading “It’s a people game – what PE lawyers can teach global law firms”
In-house lawyers have been notoriously slow to embrace the tech-backed delivery of legal services, but our survey of more than 600 global legal spend decision makers shows many believe technology will transform the way they work.
More than half of those surveyed expect automated legal services to have a significant impact on the way corporate legal functions serve business within the next three years.
Continue reading “More than half of GCs expect AI to reshape their teams within five years”
Highlighting the growing importance of technology for law firms, south west firm Foot Anstey has used its alternative business structure (ABS) licence to bring IT director Duncan Eadie into the partnership, promoting him to equity partner.
Continue reading “The importance of tech: Foot Anstey promotes IT director to partner”