The legal industry has always been viewed as a conservative industry in the technological sense. The advent of 2018, however, showed a marked difference where law firms have begun to take on the challenge of being technologically empowered.
A solid foundation has begun to take root with increased competition, imminent data regulation, and developments in computer learning.
More and more law firms have become open-minded and accepted the fact that they need to go digital if they wish to prosper. The introduction of more sophisticated software, cloud migration, and data platforms has helped with the decision.
Here are 3 technology trends that are foreseen to push the legal industry into the more advanced digital age.
The advancement in artificial intelligence (AI) and machine learning has substantially grown since its inception…and will continue to grow.
Law firms will greatly benefit from these advancements for a number of legal applications. Such areas would include analysis of case contexts, prediction of legal outcomes, proactive data analysis for possible prevention of litigation, and analyses of contracts and legal documents to name a few.
As a conservative industry, law firms will slowly but surely learn to adapt to the innovations particularly with the onset of technological companies whose primary focus is the legal profession.
Cloud Momentum and Predictability for Expenditure
More and more law firms are gaining access to cloud that are reasonably priced. Currently, cloud applications that no longer require a state-of-the art IT infrastructure and staffing.
The days where only large firms can afford cloud is slowly but surely becoming a thing of the past. This will allow small- and medium-sized law firms to be more competitive in the future.
This aspect is the most important trend to watch for the legal industry due to the sensitivity of the documents that they handle on a daily basis.
An increase in cybersecurity through implementation of protection and policies can help lessen the legal industry’s concern with data privacy that will be available in cloud.
As the year progresses, we know that more and more trends will definitely crop up. Subscribe to our newsletter now to get relevant updates on this topic.…Continue reading