Onda Digital Tv This is a saying from the aviation world that also applies to the legal field. There are a handful of elements: 18. The legal department should actively recruit talent from other industries, professions and regions. It is therefore not surprising that these measures have had a colossal impact on markets, companies and working life in general around the world. For the legal industry, these new challenges and ever-changing circumstances raise a fundamental question: what lessons should the law learn from COVID-19? Third, and perhaps the biggest breakthrough in the legal industry, is undoubtedly the development and advancement of AI and machine learning-based solutions, combined with big data. This, of course, has created the clichéd fear in this industry (and many others): “Will robots steal our jobs?” However, with all the possible changes for the foreseeable future, replacing lawyers and judges with machines is one possible, if not the least. The reason for this, according to Katz, is that the key value that a lawyer essentially provides is twofold: risk management and the ability to navigate complex socio-economic situations. These two capabilities are far from being perfected in the cabling of our silicon-based friends. According to Katz, the only lawyers to be replaced by robots are those who work like robots. In this paper, I first try to understand what innovation means and describe some of the industry`s award-winning projects, such as the FT European Innovative Lawyers Awards and the Legal Week Innovation Awards. It is important to understand this as students because we will be the innovators. The legal industry and the way we deliver our services are driven by trends and disruptors.
We must be able to generate ideas, original ideas. 13 .” Customer-centricity” is a legal buzzword. It is a goal, and to achieve it, it is necessary to rethink from the top down how things are done and how and by whom they can be done faster, more efficiently, cost-effectively, proactively and compassionately for the benefit of customers and society. 3. Most legal professionals are digital consumers. They can apply the consumer mentality to their role as salespeople. 17. The legal department should encourage thoughtful experimentation to improve client outcomes and experience and welcome input from all sides of the workforce. Good ideas are not hierarchical. Sometimes it feels like small and solo companies are in a completely different industry than mega-corporations. And to that end, I sat down with Kimberly Bennett, co-founder of Fidu – which provides subscription-based legal services – and Jack Newton, CEO and co-founder of Clio, on what the legal industry can really learn from other industries.
The legal industry is fundamentally focused on client service and the profession needs a little help to understand that when it comes to meeting clients where they want to be, other sectors are ahead of law firms. Katz rounded things out with some predictions for the coming years after 2020. He highlighted the impact of the role of the Fourth Industrial Revolution on these developments, insisting that all these technologies work very well on their own, but are only truly revolutionary when combined. Blockchain itself is fine, but when integrated with big data and machine learning, the possibilities are endless. Please fill out this short form and the Office will contact you! Some may think that the legal profession offers few opportunities for an individual`s creative talent, but this is simply not the case. Whichever legal career you choose, you often have to think outside the box to get the job done. Research also plays an important role in the day-to-day work of a lawyer. You`ll need research skills when doing substantive work on a case, drafting legal documents, and advising clients on complex issues. Use your study time to familiarize yourself with the Internet and library resources and build a network of contacts. As a lawyer or newly qualified lawyer, industry relations can be a useful source of advice. A glance at a law firm`s client list is not enough. You need to understand what other features a law firm offers, where it stands in the market and its competitors.
This process has allowed me to truly develop a passion, interest and reason to work in the legal industry. Again, it is a process of finding oneself, improving and enriching one`s narratives on the big question of “why the law”. Depending on your interests, you should also have knowledge of technical development in this industry. So, for me, it`s construction and insurance. Legal Tech is not a new concept. Since the turn of the century, there has been an emergence of legal technology, which aims to increase efficiency and relieve lawyers of basic tasks. But going above and beyond to learn from the use of technology in other sectors is, of course, not something lawyers do. Katz`s second prediction was the introduction of self-negotiated contract systems that would be used between companies to reach the best possible deal for both parties. Of course, these wouldn`t be fully automated – there would likely still be some sort of oversight by lawyers and executives on both sides before the deal closes. * Most of my knowledge and understanding came from attending presentations, and I urge university law schools to hold more diversity and inclusion roundtables to give us information on this important topic and make it more accessible. After a successful legal career in banking, Andrew is now embarking on a new adventure with his own company, Off Road Legal – a legal consulting firm that aims to support legal teams and law firms who want to think outside the box (or “off-road”) to find new ideas and opportunities for their business.
A new wave of legal entrepreneurs is riding the technological push, adapting, overcoming and innovating. They evolve with the times. But the sector as a whole should follow the lead of the financial services sector. They are on a continuous path in digital transformation, leveraging the latest innovations to provide superior service to their customers. We need to do the same in the legal industry. It`s changing – companies are changing the culture, mindset, role, mission, and purpose of the legal function. Lawyers are an increasingly diverse, technology-driven, data-driven segment of a legal function tailored to client and business objectives. Many lawyers and industry experts see little evidence – big business continues to thrive, prices are rising, and the war for talent is driving up compensation packages.
What`s changing? From marketplaces and app stores for legal technology to auto-trading contracts. Are we about to see these innovations finally gaining momentum? How can the legal function meet its challenge of becoming fit for digital clients and society? Spoiler alert: Not by preserving the old legal industry models, methods, insularity, culture and paradigms. Here are some general recommendations. Note: The views expressed by the author of this document are entirely personal and do not represent the position of any affiliated institution. Calum is co-founder of LegoLex, a legal technology company that will soon open its exclusive network of lawyers. He studied the double degree in law at IE University and is currently studying the double LLM in law, entrepreneurship and technology at IE Law School. In September, he will work for White & Case in Madrid. Through law school and legal experience, many students and graduates already possess these skills and the potential for success, but do not know how to illustrate these skills with relevant examples. It takes practice to get it right. For tips and tricks, take a look at writing a legal resume and cover letter.
No area of society is immune to the diversity and complexity of the legal sector. To understand its full scope, we need to understand how it is evolving and what the future looks like for this sector, which is increasingly dependent on new technologies. Luckily, we got to hear it all from one of the industry`s leading professionals. What can the legal profession learn from other industries and fields? Anyone who knows me would write the word “networking” on my face.
