The way that legal services are delivered is fast changing due to advances in technology and business model innovation. This is resulting in a gradual shift towards affordable, standardised services and efficiencies in how law firms deliver services. We interviewed thought leaders on the changing legal industry, emerging technologies impacting the sector, factors holding law firms back and what the future lawyer looks like.
Here is our interview with the CEO of Legalsifter, Kevin Miller
Three basic trends will have accelerated:
1. AI and attorneys are better than either by itself. The market for using AI will have moved from an Innovator market to either an Early Adopter or Early Majority market.
2. More non-lawyers will take a larger stake in the legal industry as states' bars soften in the United States towards non-attorney ownership.
3. More self-service legal products - what the market wants - will have appeared.
AI does a little thinking, reading, and writing. It's the first technology that gets into the heart of the legal industry's workflow - thinking, reading, and writing. Every time humans introduce technology that gets into the heart of a function's workflow, things get cheaper, faster, and better.
They have too much demand for their services, and they are able to make a solid living as a result. Not enough pain to change. Unfortunately, many have mistaken client demand for client satisfaction.
Easy to make money when demand falls from the sky. Will be interesting to see when the game changes.
The future lawyer will be adept at integrating technology into their practice. The business model will evolve and they will offer full service, self-service, and partial service solutions.
To find out what 14 other thought leaders had to say on the future of legal services, download the full 21st Century Lawyer report at www.newlawacademy.com/report
Shay Namdarian is GM of Customer Strategy at Collective Campus and the author of Stop Talking, Start Making - A Guide to Design Thinking. Shay has over ten years of experience working across a wide range of projects focusing on customer experience and design thinking. He is a regular speaker and facilitator on design thinking and has gained his experience across several consulting firms including Ernst & Young, Capgemini and Accenture. Shay has supported global organisations to embed customer-centric culture, working closely with law firms such as Clifford Chance, Pinsent Masons and ClaytonUtz
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