How AI Is Transforming The Legal Profession
Source: Above the Law On the impact of AI, from the numerous gems of Thompson Reuters excellent report about the future of the professionals, I would higlight the following: “Nearly half (48%) of professionals predicted that lower costs for firms, resulting from AI use, would lead to greater firm profitability” with however ” several factors […]
Building Trust In Legal Software: Transparency And User Education
Source: Above the Law by OLGA V. MACK In the digital age, the legal industry has witnessed a significant transformation, largely driven by advancements in legal software. This change, while innovative and efficiency-enhancing, brings with it a new challenge: building trust. Trust in legal software is not just a matter of reliability or performance; it’s […]
Mid-Sized Firms Have Lagged Behind In Tech… But Why?
Source: PYMNTS Yesterday we delved into the plight of mid-sized firms working harder and still ending up failing to transform a lot of that work into cash. We suggested that the sector’s reticence to adopt the latest in legal technology might be a big part of the problem. But maybe there’s something else behind the tech […]
Banks Tap AI to Navigate Regulatory Maze of Managing Vendor Contracts
Source: PYMNTS Michael Berman, CEO of Ncontracts, told PYMNTS that financial institutions (FIs) are grappling with the increasing burdens of vendor lifecycle management. There can be what Berman termed “dire consequences” for FIs as they navigate contract management with their vendors. With the explosion of technology and digital channels, FIs are interacting with consumers and other […]
How One In-House Team Earned Its ‘Value Champion’ Award
Source: UPLEVEL OPS AND ABOVE THE LAW Looking for operational excellence in the legal landscape? In this episode of the UpLevel View podcast, Audrey Taranto, general counsel of Enstar Group, discusses the initiatives that earned her team an ACC Value Champions accolade. In a discussion with Stephanie Corey, CEO and Founder of UpLevel Ops, Taranto […]
OGC’s Managing Partner On Why An Alternative Approach To The ‘Broken’ Billable Hour Is Needed
Source: Above The Law, Author: Staci Zaretsky Companies are constantly complaining about the high costs of the legal services they need to make their businesses run, and yet each and every year, legal fees get higher and higher. Clients grit their teeth, hand over the cash, and the cycle begins anew. Will Biglaw ever bite […]
Beyond The AI Glitz And Glamour, Practical Implications
Source: Above the Law, Author: Stephen Embry Last week, Legalweek was held New York City. It’s the annual legal tech Conference put on by ALM and directed at Biglaw and, sometimes, not so big. Lots of exhibitors, lots of parties, and fancy dinners. Glitz and glamour. And this year, as you might expect, there are lots of educational sessions, […]
Private equity in the legal sector: A challenge to conventional firms
Source: Legal Futures, Posted by Jeff Zindani, managing director and merger consultant at Legal Futures Associate Acquira Professional Services If law firms’ consolidation at all levels is on the rise, still difficult to imagine Big Law using PE to merge. The latest case in point would be the recent A&O and Sherman merger? Not insinuating […]
3 Reasons Why General Counsel Are Enterprise Strategy Assets
Source: Forbes, Author: Mark A. Cohen, CEO of Legal Mosaic Enterprise strategic planning has never been more challenging. The Doomsday Clock is the closest it has ever been to midnight, a reflection of the unprecedented danger the world faces. The World Economic Forum’s Global Risks Report 2024 surveyed more than 1,400 industry leaders, risk experts, and policy makers. They […]
Should law firms focus more on work-life balance? Survey finds ‘wide gaps’ in opinions of associates, partners
Lawyers would like to see a greater emphasis on training and mentoring at their law firms, according to a survey released this week by recruiting firm Major, Lindsey & Africa and Law360 Pulse.