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By Daniel Newman
* Exploring all things Digital Transformation
Last year we took a look at
the top digital
transformation trends in several industries including the
legal space. [1]
This year, we’re revisiting those
trends to find out: Have things changed? Stayed the same? Any major
unexpected disruptions? In law, as in many other industries, the
results are a mixed bag. As we noted in last year’s piece, the
legal industry has been fairly slow to catch up with digital
transformation. That said, it means there is huge potential in this
industry to optimize efficiency, improve processes, and offer new
types of legal services altogether. The following is a brief update
from last year’s piece on the top digital transformation trends in
law/legal for 2019.
Cloud and Mobile
Imagine you’re in court fighting a stressful legal issue when
your lawyer suddenly remembers: he left your files on his desk—back
at the office. What do you do? These are the
types of issues cloud and mobile services can help eliminate in
2019. In fact, I lump these two technologies together because
without cloud, mobility would not be possible. This coming year,
we’ll continue to see an increased focus on Software as a Service
and other cloud-based mobile services that allow for improved
accessibility of client files, old cases, and other legal
resources. This is especially true when it comes to pay-as-go
services that allow firms to tighten their overhead while improving
service to their clients. We’ve entered an age where people expect
everything to be available to them anywhere on any device, legal
professionals should have the same level of access.
Virtual Law Firms
In 2019, we won’t just be seeing online legal services, as we
saw last year. We’ll be seeing entire virtual law firms take
flight. Because of the increase in cloud and mobile, legal
professionals will have greater flexibility in where and how they
work. This allows legal powerhouses on two different coasts to team
up in one firm. With virtual meetings, it also eliminates virtual
travel time. And, it will offer a greater work/life balance for
legal professionals overall. For me, this is one of the more
exciting digital transformation trends in law because it could lead
to a healthier, less stressful lifestyle for an entire
industry.
Social Media
Perhaps because they’re saving so much time with mobility and
virtual lawyering, more legal professionals are popping up on
social media, and not just in traditional spots like LinkedIn. A
new wave of legal podcasts[2] have popped up, and
I truly believe it’s because today’s lawyers are utilizing the time
saved from pre-digital processes to take on these personally
fulfilling projects. (If you want a recommendation, one of my
favorite legal podcasts is Undisclosed.[3]) I anticipate
we’ll see a growing number of lawyers find their place on social
media, connecting with the public and one another—be it YouTube,
blogging, or podcasting—in 2019. And when it comes to digital
transformation trends in law, this makes me really excited. It
makes legal issues of all kinds more accessible to all of us, and
helps highlight the important work our legal professionals are
doing every day.
Cybersecurity
I’m not sure whether to classify this under “digital
transformation trends in law” or simply “common sense.” To be fair,
many industries are lax on cybersecurity until something terrible
happens. And that’s exactly what took place for the legal industry
last year, as it saw 11 million files leaked[4] from one firm—a
firm which has since shut down. But it’s not just one company.
Research shows 80 percent of the largest firms in the
United States[5] have already
experienced a malicious breach. The study also found nearly 60
percent of all emails directed at the firms was classified as
phishing. That’s enough for anyone to wake up and consider how well
their security is protecting their client’s information. We’ll see
a huge increase in this—dare I saw with blockchain—in 2019.
Customer/Client Relationship Management
Imagine how embarrassing it would be to greet a client, ask how
his wife is—and find out he has been divorced for the last six
months. When it comes to managing our personal affairs, we want
professionals who know us—people we can trust. That’s why we’ll be
seeing a huge and increasing focus on customer relationship
management in 2019. This software makes it super easy to
consolidate client files—update them with the latest
information—and do a quick read-through before the next big
meeting. CRMs don’t just save face. They save time and improve case
management, as well.
Performance Measurement
When it comes to law, it’s all about performance. Just like last
year, we’ll see a focus on using technology for analyzing data,
managing caseloads, forecasting outcomes, and even deciding on
whether or not to take on a new client. More than 50% of top global
law firms today are using some form of business intelligence to
enhance performance management, and I wouldn’t be surprised if that
number hit 75% or higher in 2019. When it comes to understanding
your business, it’s a no brainer.
Electronic Discovery
I add this to my list this year because with the massive influx
of digital data (emails, texts, voicemails, electronic calendars)
now open for analysis in legal proceedings, lawyers need help
processing all of that information quickly. Today’s AI and machine
learning are going a long way to make that process much less
cumbersome, and I anticipate this becoming a growing niche industry
in 2019—with some firms even using AI to assist with decision-making in litigation[6].
While the legal industry isn’t necessarily known for jumping on
digital transformation trends in law, they’re definitely coming
around to the idea of incorporating new technology in places that
will save time and money, and while also improving case outcomes.
This will increase exponentially in the year to come.
I am a principal analyst of Futurum Research and CEO of
Broadsuite Media Group. I spend my time researching, analyzing and
providing the world’s best and brightest companies with insights as
to how digital transformation, disruption, innovation and the
experience economy are…
References
- ^
top digital transformation trends
(www.forbes.com) - ^
legal
podcasts (www.filevine.com) - ^
Undisclosed.
(undisclosed-podcast.com) - ^
11
million files leaked (blogs.findlaw.com) - ^
80
percent of the largest firms in the United States
(www.cna.com) - ^
decision-making in litigation
(abovethelaw.com) - ^
MORE
(www.forbes.com)
Read more top-seven-digital-transformation-trends-in-legal-for-2019/