Business Insights

Staying Competitive with Legal Technology

legal-technology

While it might sound intimidating, legal technology is not going to replace you around the office or courtroom. Think of it as an opportunity that will allow you to spend more time with clients, focus on analysis, negotiate deals and give your practice a competitive edge. 

AI – The Future of Law

Perhaps the term “artificial intelligence” should really be called “augmented intelligence” when it comes to lawyers. According to Forbes, artificial intelligence mimics routine human operations, whereas machine learning is “when computers use rules to analyze data and learn patterns and glean insights from the data.” With the use of AI and machine learning, people can have a much more personalized experience online, for example, like search engines “guessing” what you are about to search, based on your search history, location, and the time of day.

When it comes to practicing law, AI and machine learning are quickly taking their place.  As you read this, the “language of law” is being mapped into computer systems so that the immense amount of legal data can be recalled by humans more effectively. Add in machine learning, and those computers can do complex analysis, like predicting legal outcomes. Bottom line? With legal AI and machine learning, you’ll get better results more quickly and efficiently – and at a lower cost.

Data Science and Analytics – Changing the Game

Sure, you’re a driven lawyer, but now, you need to be a data-driven lawyer. You’ll find that data analytics can offer real utility and value to your practice by allowing you to make better decisions.

Your clients want more for less, and data analytics can help. Instead of spending your time combing through litigation records, data analytics can quickly draw conclusions from several data points to determine the best course of action. Clients will get more value and lower bills, while your practice gets a competitive edge. 

Use of Cloud-Based Client Relationship Management (CRM) Tools Will Increase

If you haven’t already, now is the time to upgrade to a cloud-based CRM to help manage your practice’s visibility to your client behavior. Your busy employees will appreciate that cloud-based CRMs provide seamless and secure business access at anytime from anywhere, while clients will enjoy the ability to receive case updates in real-time. There is also the added bonus of reduced server space and IT resources required, which can translate to a real cost-savings. shutterstock_1163401579

One of the biggest benefits of new cloud-based CRM systems may be that they focus on providing intuitive, easy-to-use customer experiences that can be set up quickly. Once installed, your team can start using your CRM for insights and cut down on time-consuming data entry. 

Legal Chatbots – Join the Conversation

No matter the size of their practice, there’s one thing every lawyer has in common – the search for more time to spend with actual clients, instead of spending it on mundane busy work. A legal chatbot just might be what you’ve been looking for. 

A legal chatbot is an application that can be built or added on to your website that will simulate interactive human conversation. It’s an advanced and affordable way to automate common tasks such as answering common questions about your firm and handling client intake so you can get back to the business of being a lawyer. 

Cybersecurity and Law Firms – For Your Eyes Only

With access to so much confidential client information, it was only a matter of time before law firms became prime targets for hackers. So, what can you do to keep your clients private information private? 

You’ll need to invest in some basic security tools. These include spam filters, anti-spyware, software-based firewalls, and anti-virus for all your devices and networks. Ongoing training, updates and constant security awareness are mandatory to combat data breaches.

 

Topics: Technology

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