Considering Ethics when using AI in Law
Source: Crafty Counsel Andy Cooke, General Counsel at TravelPerk, delivered a key insight about the integration of data and AI in legal departments: AI alone won’t take your job, but a lawyer who understands AI will. His message underscored a vital point—embracing AI doesn’t just enhance efficiency but redefines how legal teams operate. Yet, as […]
Balancing Act: Human Expertise and AI in the Future of Law
As artificial intelligence (AI) rapidly transforms the UK legal sector, firms are striving to integrate this powerful technology while maintaining the irreplaceable value of human expertise. The recent LexisNexis survey highlights this balancing act, revealing both enthusiasm for AI adoption and concerns about its impact on traditional legal practice. Laura Hodgson of Linklaters notes that […]
The AI Revolution in Legal Services: Faster Delivery and Shifting Paradigms
Source: LexisNexis The UK legal sector is experiencing a dramatic shift towards artificial intelligence (AI), with a LexisNexis survey revealing AI usage among lawyers has surged from 11% in July 2023 to 41% in September 2024. This rapid adoption is reshaping legal service delivery, prioritising speed and efficiency to meet escalating client demands. Jonathan Kewley […]
AI in Law: The Rapid Rise and Uncertain Future of Legal Fees
Source: LegalFutures The adoption of artificial intelligence (AI) among lawyers is accelerating rapidly, but its impact on traditional fee structures remains uncertain. According to a recent LexisNexis report titled Fast Law: Why Speed is the Priority for Lawyers Using AI, four out of five lawyers are currently using or planning to use AI tools. This […]
The Future of Legal Pricing: Can AI Finally Disrupt the Billable Hour?
Source: Bruce MacEwen & Janet Stanton of Adam Smith Esq. For over half a century, the billable hour has been the dominant pricing structure in legal services, despite mounting criticism. Key objections have centred around its misalignment with client interests, arbitrary rate-setting, and lack of correlation between time spent and value delivered. Clients often desire […]
How Legal Tech Is Driving Cost Savings in Corporate Legal Departments
Source: CLOC Legal technology has become essential for corporate legal departments aiming to optimize their spending and drive efficiency. According to a Legaltech report, legal departments increasingly see tech solutions as critical to achieving these goals, with 78% of them labelling legal technology as a “must-have.” As businesses strive to become leaner, legal technology is […]
Unleashing the Legal Department’s True Value: From Cost Center to Business Catalyst
Source: Forbes The legal function’s contribution to a business often goes unrecognised, limited by a narrow focus on cost and internal efficiency. Traditionally seen as a cost centre, the true potential of legal departments is far greater when measured by customer-centric and enterprise-aligned metrics. By applying the right business metrics, legal can become a proactive […]
The Fable of StarBucks
Source: Adam Smith, Esq. Few brands are more prominent in our daily lives (well, at least if you’re a Western world urban dweller) than Starbucks. Its rise to prominence has become standard-issue corporate lore: From its single Seattle store founding in 1971 to Howard Schultz’s acquiring it and spreading it explosively worldwide. But you don’t […]
The Impact of AI on Legal Operations Jobs
Source: CLOC Artificial Intelligence (AI) is transforming knowledge-based professions, and legal operations are no exception. As legal departments grapple with increasing workloads and tight budgets, AI offers a way to enhance efficiency and effectiveness without the need for additional human resources. This blog post explores the implications of AI for legal teams, careers in legal […]
Can Something Be Irresistible and Irrational at the Same Time?
Source: Adam Smith, Esq. This article examines the intriguing paradox where certain decisions or desires are both irresistible and irrational. It delves into how human behavior often defies logic, driven by deep-seated emotions and impulses. The author uses examples like luxury purchases or speculative investments to illustrate how people knowingly engage in actions that may […]