Hello legal innovators! This month, we’re diving into:
- Blast from the Past: The Impact of the Internet on the Provision of Legal Services
- A Rock-and-roll interview with Mark Cohen, CEO & Founder of Legal Mosaic
- Creating a Gen AI-Era Legal Function: What It Means, Why It Matters, and Where to Start
- Breaking The Chains Of Hierarchy: Why ‘Nonlawyer’ Must Go
- Can Something Be Irresistible and Irrational at the Same Time?
But first, here are our key takeaways this month:
- Legal tech is becoming indispensable in modern law practice
- Gen AI is reshaping the legal market, offering both challenges and opportunities
- The term “nonlawyer” is outdated and hinders inclusivity in the legal profession
- Historical predictions about the internet’s impact on legal services have largely come true
- Law firms’ approach to retained earnings differs significantly from other industries
Now, let’s jump right in!
Blast from the Past: The Impact of the Internet on the Provision of Legal Services
In this first instalment of our “Blast from the Past” series, we revisit a 2003 article that predicted how the Internet would affect the provision of legal services.
Key Takeaway: Many of the predictions made in 2003 about the impact of the Internet on legal services have come true, showcasing the prescience of early digital adopters in the legal field.
The article, written over two decades ago, accurately predicted several trends we see today:
- More ‘hot desking’ and remote work
- Increased computerisation of everyday, standard tasks
- Online court hearings and applications
- Greater use of video technology
- Removal of paper-based libraries/knowhow resources
Interestingly, the article also predicted “practices working 24/7 as matters chase daylight around the world” and “shrinking of the globe and the removal of language barriers as systems translate on the fly” – trends we’re seeing accelerate with the advent of AI and global remote work.
However, one prediction that missed the mark was the article’s skepticism about the “paperless office”.
The author suggested that this was likely to be a myth, stating, “Lawyers create the paper-full office by finding what they want and then printing it.” Contrary to this expectation, most legal offices today have indeed become largely paperless.
The persistence of paper use, despite widespread digitalisation, might be partly attributed to generational preferences. (We can almost hear the exasperated sighs of Gen Z lawyers watching their Baby Boomer colleagues reach for the printer yet again. “But it’s all in the cloud, Barbara!”)
Call to Action: Compare these predictions to your current work environment. Which ones have materialized in your practice? Are there areas where you can further leverage technology to improve efficiency? And how can you balance the benefits of digital transformation with the practical realities of your practice?
A Rock-and-roll interview with Marc Cohen, CEO & Founder of Legal Mosaic
Mark Cohen, a legendary figure in the legal industry, shares his thoughts on what it takes to drive change in the legal sector and the role of technology in this transformation.
Key Takeaway: The transformation in the legal industry is likely to come more from outside the industry itself than within, driven by broader digital transformation in business and society.
Cohen argues: “I think that the transformation in the legal industry is really going to come more from outside of the industry itself than within. And I think it’s really a footnote to a larger transformation that’s going on.
Certainly with business, which is well on the way to digital transformation, even before, you know, the sort of drop the mic moment of chat GPT and all this happened since.”
On whether legaltech is a fad or for real, Cohen states: “I think that let’s not call it legal tech. I know that’s blasphemy because we’re here at legal tech talk. But I think it’s really more of technology. And clearly technology is not a fad.”
Creating a Gen AI-Era Legal Function: What It Means, Why It Matters, and Where to Start
Mark Cohen explores the urgent need for a Gen AI-era legal function in the context of rapid technological change and enterprise transformation.
Key Takeaway: A Gen AI-era legal team applies technology creatively and responsibly, operates collaboratively and cross-functionally, and innovates internally as well as across the enterprise.
Call to Action: Assess your legal team’s readiness for the Gen AI era. Identify areas where you can start implementing AI tools and foster a culture of continuous learning and innovation.
Breaking The Chains Of Hierarchy: Why ‘Nonlawyer’ Must Go
Chere Estrin, a seasoned legal professional and thought leader, shares insights on why the term “nonlawyer” is problematic and how it impacts the legal community.
Key Takeaway: The term “nonlawyer” perpetuates outdated hierarchies and is a barrier to a more inclusive and collaborative legal environment.
Call to Action: Examine the language used in your organisation. Are there terms that might be exclusionary or hierarchical? Consider initiating a discussion about more inclusive terminology.
Can Something Be Irresistible and Irrational at the Same Time?
Bruce MacEwen of Adam Smith, Esq. explores the recent trend of law firms awarding generous mid-year bonuses, questioning whether this practice is both irresistible and irrational.
Key Takeaway: Law firms’ approach to retained earnings is unique and potentially risky in the long term.
Call to Action: Evaluate your firm’s approach to retained earnings and bonuses. Are you balancing short-term rewards with long-term financial stability? Consider developing a strategy that accounts for the industry’s historical volatility.
This month’s quote
“The best way to predict the future is to create it.” – Peter Drucker
As we navigate the rapidly evolving legal landscape, this quote from management guru Peter Drucker reminds us of the power we have to shape our own destiny.
In a world where technological advancements like Gen AI are transforming the legal profession, where traditional hierarchies are being challenged, and where financial practices are being scrutinised, we have the opportunity – and the responsibility – to actively create the future we want to see.
That’s all for this month, legal trailblazers! Keep pushing boundaries and driving positive change in the legal world.
