What are the latest trends in the legal technology space? Explore our blog to see the industry from our perspective on the front lines.
In today’s digital landscape, security and compliance are essential pillars for the legal industry, where safeguarding client confidentiality and sensitive information is fundamental to maintaining trust. As cyber threats grow increasingly sophisticated and data protection laws become stricter, law firms and legal technology providers face mounting pressure to prioritize robust security and strict regulatory compliance….
The recent explosion of artificial intelligence (AI) advancements means most law firms are well aware of its potential to improve efficiency, productivity and decision-making — and there’s no shortage of AI solutions designed to achieve these goals.But, for many firms, that’s the problem. An abundance of options is causing choice paralysis for some, while others…
Ah, the unknown. It’s been frightening humans since the beginning of time. For lawyers, concerns around integrating emerging artificial intelligence (AI) tools into their workflow can be especially acute due to their risk-averse and traditional nature. And given legitimate concerns around ethics, privacy, quality, reliability and compliance — not to mention job security — these…
A recent Thomson Reuters study found that many corporate clients are shifting their retainers away from their go-to BigLaw counsel in favor of mid-sized firms promising quality work at more efficient rates. The reason? To trim and optimize their legal spend. This shift in spending, known as “demand mobility,” has been nagging larger firms for…
On November 7, Luminance announced that one of its artificial intelligence (AI) modules negotiated an entire contract with another AI module for the first time without any human involvement. Yes, you read that correctly: an entire contract was hammered out from inception to final approval without involving even a tenth of a billable hour. Humans only stepped…
In the fast-paced world of legal technology, the focus has often been on harnessing cutting-edge software and automation to streamline processes and reduce costs. However, firms often neglect the so-called “people factor” when implementing new technology or identifying processes for automation. This one mistake can severely impact a firm’s overall return on investment. Recognizing the…
Let’s face it: the legal tech field is growing exponentially. Vendors worldwide are developing more cutting-edge software to address the different cost variables and time sinks associated with legal work. With generative artificial intelligence (AI) becoming increasingly accessible, this trend will likely accelerate as advanced legal technology becomes accessible to attorneys regardless of their technical…
How the legal technology revolution is a game changer in understanding data The legal industry has begun to adapt to changes in technology, which can streamline processes, automate repetitive tasks (such as billing) and enhance overall productivity. Artificial intelligence (AI), in particular, has become a game changer in helping firms become more efficient. AI enables…
The legal industry has been traditionally slow to adopt new technologies, but we’ve seen that begin to shift in recent years as law firms realize the potential benefits of using legal tech in their operations. With the advent of advanced tools such as GPT-3, legal professionals now have access to powerful new resources that can…
Workflow approvals are critical to various key business functions. However, the billing workflow approval process carries more weight than others. It is, after all, the money. The firm’s revenue stream and profitability depend on it. As an Elite 3E user, your billing workflow has a lot of moving parts: multiple timekeepers, numerous locations, various time…
