Technology brings many benefits to the legal industry, and law firms that successfully integrate it with their existing operations will gain a competitive advantage. The exact technology that law firms use varies from institution to institution, depending on their unique modes of operation. However, technology continues to improve as software developers around the world continue to innovate.
A lot of these innovations apply to the legal industry and heavily contribute to the recent legal tech trends that we observe. These tech trends provide a competitive advantage by increasing productivity and enabling lawyers to work on legal documents faster. Below is a list of the recent tech trends that law firms should pay attention to in 2024 and beyond:
Digital transformation
People are more reliant on technology than ever, so law firms have to adapt to this new reality and meet clients online where they are. They should move their operations online by embracing cloud computing and digital marketing.
Working on the cloud allows lawyers to seamlessly collaborate, work remotely, and easily share legal documents with each other and their clients. Law firms marketing their services online will also create brand awareness and expose them to many potential clients.
Generative AI
Lawyers can use generative AI tools to research past cases, draft contracts, write emails, and prepare legal documents. This saves time and energy, freeing them to focus on more complicated tasks that require their expertise.
Routine task automation
Law firms can use software to automate routine tasks like PDF document creation, data entry, and form filling. This saves time and resources that would have been spent hiring administrative staff to do those routine tasks.
Modern communication
The use of appointment booking systems, video conferencing platforms, and instant messaging software allows lawyers to communicate effectively with each other and their clients. Appointment booking software helps potential clients find out when a lawyer is free so they can seamlessly schedule a meeting or consultation.
Video conference platforms allow these meetings and consultations to occur without the potential clients visiting the law firm. The instant messaging software allows lawyers collaborating on cases to seamlessly communicate.
Virtual legal assistance
Legal work involves a lot of paperwork, so lawyers need assistance to sort it out and do their jobs effectively. However, most of the “paperwork” is in softcopy format, so they hire virtual legal assistants to work on it.
These assistants also help confirm appointment booking requests, remind lawyers of upcoming meetings, and perform other routine tasks. One major benefit of hiring virtual assistants over people who work physically is that they demand lower salaries and can be available to work beyond a law firm’s official working hours.
Data security
As technology becomes more pervasive in the world, cybercriminals become more inspired to attack businesses to steal their customers’ data. This also applies to the legal world. Law firms have a responsibility to keep the legal matters of their clients private, and they are wary of the cyber threats they face. In response, they implement a host of measures to preserve data security and protect their clients.
How To Select The Right Legal Tech Tools
To take advantage of the recent legal tech trends, law firms have to select the right tools. Here are the essential factors to consider:
Compatibility
Law firms should ensure the new tools they adopt are compatible with their existing tools. This will prevent disruptions to their workflow and ensure that the newly implemented technology works as intended.
Fast onboarding
The right tech tools for a law firm should be those that allow for quick onboarding. This will reduce the time and effort needed to train staff members on how to use the tools effectively to accomplish business goals.
The potential return on investment
Many legal tech tools cost money to purchase and integrate with existing business IT infrastructure. Law firms should weigh the cost of a tool with its potential benefits to determine whether it is worth purchasing. Any tech tool they purchase should improve their existing operations, enhance client experience, reduce mistakes, and save time.
User-friendliness
It is best to opt for user-friendly software that has an intuitive interface because it is easy to adopt and use long-term. If employees cannot seamlessly use the new software their management provides, they will stick to their old methods of operating. This is the opposite of the intended effect and will set back the company’s productivity goals.
Cybersecurity features
Cybersecurity is a necessity because malicious actors are always trying to gain unauthorized access to companies’ IT systems. Any software that a law firm uses should have a bunch of security features that can effectively detect threats and prevent cyber attacks. They should also have features that ensure the firm stays compliant with data protection regulations.
Scalability
Any adopted tech should be scalable so it does not hinder the growth of the law firm. Management teams should forecast their firm’s future needs like a higher number of users and greater workload, and only purchase software that can cater to those needs.
Benefits of Using Technology in the Legal Industry
Several benefits of the recent tech innovations in the legal world have been discussed loosely in the article, but here is a structured list:
- Higher productivity
- Increased accuracy
- Greater client satisfaction
- Lower labor cost
- Less operational expenses
- Time savings
- Better data protection
Challenges Associated With Using Technology in the Legal Industry
Implementing the recent technologies in the legal industry often comes with the following challenges:
- Picking the right tools that suit a specific law firm
- Training employees and getting them to adopt new software
- Ensuring client data stays protected.
- Getting a substantial return on technology investments
Endnote
The recent legal tech trends have proven to be beneficial to law firms that embrace them. They have their challenges, but these can be overcome by assessing a firm’s needs and properly implementing software that can meet those needs. Lastly, law firms should take advantage of the benefits technology brings and use them to gain an edge over their competitors.
