Many of you will have heard the superb speech given by Mark Carney at Davos. Some have described it as the speech of a generation. For those who have not heard it I would strongly recommend it to you
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Virtually every major firm is now focused heavily on AI, and it has redefined their tech priorities. Anybody who says they know exactly where AI is going is either fibbing or very naïve.
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For years large law firms have operated on best of breed systems whether they be PMS, DMS or CRM. By contrast, smaller firms tend to operate on all-in-one systems. Gradually we have seen all of these systems move to a hosted model before increasingly transitioning to become proper cloud-based systems.
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Not a day goes by without a new AI headline. Every time you visit LinkedIn or attend a conference you are bombarded with the wonderful things that people are doing with AI. Some of these are grounded in reality where others are perhaps overhyped. One thing is certain in that ever since Gen AI hit the headlines, month by month, AI has become more capable, and this will continue.
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The world is now firmly in the era of AI. Not a day goes by without a new announcement and yet another prediction about what the future will bring. It is clearly important to think through what the future might look like, albeit anybody who thinks they know exactly what will happen is either fibbing or is very naive.
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It is fair to say LegalTech and innovation are at an inflection point. The volumes teams are dealing with are unprecedented and many are realising that the current order of things can’t go on.
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