Today news of a legal "app store" was announced, bringing to the fore the recognition that the legal profession must embrace and adopt technology to ensure it keeps up with other professions and indeed its own clients.
Artificial Intelligence inspired legal tech innovations are emerging at pace and it is imperative that we, as law firms, do not turn a blind eye and that we actively consider how they can be incorporated into our business to enhance our client service and obtain a competitive edge, both from a business development perspective and in the work that we do for our clients. Put simply, firms will soon become past their best if they do not, or are slow to, do so.
Legal tech solutions allow processes to be streamlined and accelerated (in turn, increasing cost effectiveness), whilst freeing up lawyers to apply their minds to the substance of the transaction or the dispute in question; essentially to do what they do best. Where appropriate, technology should be placed at the heart of a transaction or a dispute, and a true collaboration of technology and legal mind can bring impressive results. One can inform and advance the other with the ultimate objective being to raise the standard of output and result for the client.
By way of case in point, Charles Russell Speechlys' use of innovative technology was invaluable in the successful defence by our clients of a multi billion dollar, cross-jurisdictional fraud claim, in which Judgment in their favour was handed down in 2018.
Dotcom whizz sets up lawtech app store. An entrepreneur who left the legal profession to make a fortune in the first dotcom boom is returning to his roots by founding an ‘app store’ for lawtech. Andrew Klein (pictured) is the founder of Amsterdam-based Reynen Court, which aims to cut the time taken for a firm to procure systems ‘from months to minutes’.