Knowledge Management 3.0 – How to succeed in a world of AI
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. That being said everyone knows it is vital that we all focus on it and make sure that our firms leverage it as appropriate and are not left behind.
Having been involved in multiple procurement processes, pilots, and strategies, as well as partners’ conferences, one insight that has become really apparent is the need to completely redefine knowledge management to make a success of AI.
I have always been a fan of knowledge management in that it goes to the very root of the services, professional services firms deliver and its impact on efficiency cannot be overstated. Historically this has often been an area where many firms struggle though. Professional support lawyers are often decentralised, have a variety of competing demands and in practice are managed to differing extents. The evolving landscape of publisher’s offerings has created ongoing questions about where internal knowledge teams deliver most value and how to avoid costly duplication of expensive external resources.
Standing back, we have to recognise that AI has the potential to change everything in this area. It will change the way lawyers work and in addition will radically alter what we need from our knowledge functions. I say this in a positive way in that it is a real opportunity for knowledge functions to excel and deliver real value to their firms.
And so, what are the critical questions knowledge functions should be asking themselves now?
How will the way that lawyers work change? What does this mean in terms of what they will need from knowledge functions?
Many AI systems require intellectual knowhow to be entered into databases or the tools themselves. What will this knowhow look like and is it ready? In today’s era do firms have enough of their own precedent documentation or do they rely too heavily on the publishers?
If lawyers want to construct playbooks leveraging AI, where will the content come from? Will they need separate sample clauses for different purposes and where will the varying positions be documented?
Many clients are finding out that to develop successful agents requires you to point AI at small pockets of bespoke knowledge. Does this exist and where should it be stored? What advice is being given to the lawyers? How should this knowledge be collected going forward?
Architecturally where should knowledge be stored and how do we ensure maximum compatibility with AI?
How will the world of MCP and the major document and email management providers work? And other systems in the future? Will this in turn need new taxonomies?
What is the ideal knowledge platform for the future? Is it the DMS? Is it SharePoint? Or one of the AI Tools? How will you control and govern what information is kept where and what is up to date?
Where will client knowledge be stored? Also, where will client deal information be stored and how and will that be accessed by AI? How will you compartmentalise client specific knowledge?
Legal work is likely to get faster with faster turnaround and higher volumes. How will lawyers be trained for this? How will they be educated on problem areas? How can KM help?
Increasingly, AI tools are beginning to be delivered in workflows. How will these be designed? What is the role of the PSL or knowledge expert?
For years knowledge workers have produced client briefing notes. Sometimes these are superb but other times they merely repeat the noise in the marketplace. What is the process going forward and are these what clients really want? How can AI help?
On client facing knowledge, is there an opportunity here? Would it be possible to use Copilot plug-ins? What does great look like?
This is clearly a big area and needs a lot of discussion. We are beginning to engage with a number of clients in this area. What I am certain of however is that AI alone will not succeed unless we recalibrate our knowledge management strategies.
In the legal market we also need to respect the intellectual property of others such as the publishers to make sure that we are compliant with their terms. As well as ensuring we have the relevant content it is vital that we work with IT and innovation functions to ensure we store information in the best possible way going forward to maximise value for the firm and to support our lawyers as much as possible.
However good or bad a job has been done by knowledge management functions over the years, we are now in a different era and need to have a performant knowledge 3.0 strategy which delivers value. This will be a key component of success for any AI initiatives.
Hyperscale Group are an Independent Digital, Innovation, Operational Advisory, and Implementation Business with over 25 years plus deep market experience. We work for In-House Legal teams and Professional Services Firms all around the world and support them developing and implementing their strategies. We help our clients to make the right things happen.
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