FOLLOW THE MONEY. If anyone at your firm is still not feeling threatened by ALSPs (and the burgeoning strength of in-house legal departments, and AI), drop into your next conversation that the PE firm with controlling interest in LegalZoom (valuation = $2 billion), just obtained controlling interest in Axiom (or at least what is arguably the most important of Axiom’s three parts).…
Here’s CLOC’s latest research.
I have a few thoughts. It is an interesting report, but be careful. With 200+ participants, we can can have SOME faith in the generalizability of the findings, but with caveats.
Note that half of the participating companies not classified as “other” are either tech or financial services. If those aren’t your markets, these results may not be relevant to you.
Do not pay attention to any of the industry breakdowns (and…
Beginning today, this blog will no longer cover cybersecurity or blockchain per se. There’s just too much out there for me to do justice to AI and blockchain (including cryprocurrencies). I will continue to include news about blockchain that is directly AI-related. At the same time, I will redouble my efforts to cover access to justice (A2J) developments.
READ THIS → A New Device Can Hear Your Thoughts. The implications are enormous, for everyone, but especially…
Are Lawyers Ready to Be Managed by Metrics? “There’s momentum in Big Law firms, corporate legal departments and technology companies alike for a data-tracking system that could have radical consequences for the entire legal industry.” Here’s the very interesting and thorough article by Roy Strom.
This, from ABA Journal: Facial recognition scanning goes mainstream. “When Taylor Swift performed at the Rose Bowl in May 2018, concertgoers may have seen a kiosk that showed…
Read this from Mark A. Cohen: Clients Need Legal Services But Not Necessarily Lawyers.
Olga V. Mack penned this: A Perfectly Imperfect Marriage: Blockchain And Open Source. “The blockchain industry has not been very attentive to the selection of licenses used for their projects. It’s time for that to change.”
Axiom’s upcoming public listing has generated a lot of discussion; here and here are two I found interesting.
Are Robots Coming For…
Don’t miss this excellent compendium by Melissa Lin of LexBlog: Top 10 in Law Blogs: Artificial Intelligence, Executive Orders, and Law Bloggers. (It’s only a bit redundant to the posts below.)
For more than two years I’ve been writing that systems such as Wordsmith (from Automated Insights) can do a very good job of drafting law firm ‘content marketing’ materials such as client alerts. Here’s some solid (frightening?) evidence of how far such systems…
Don’t miss this excellent compendium by Melissa Lin of LexBlog: Top 10 in Law Blogs: Artificial Intelligence, Executive Orders, and Law Bloggers. (It’s only a bit redundant to the posts below.)
For more than two years I’ve been writing that systems such as Wordsmith (from Automated Insights) can do a very good job of drafting law firm ‘content marketing’ materials such as client alerts. Here’s some solid (frightening?) evidence of how far such…
Ken Grady doesn’t post often enough, but when he does it’s always worth the wait. Don’t miss this thought provoking piece. The Boring Law Firm: The model is dead, may it rest in peace. “Large law firm partners like owning their businesses and running them how they please. Right now, it pleases them to make money with ‘few’ risks. Altering the model suggests risk. We are in a battle over time — can they run out the clock…
This is the biggest news from last week’s LegalWeek in NYC: Legaltech19: New global matter standard to provide “common language” for law firms and corporate counsel. “The Standards Advancement for the Legal Industry (SALI) Alliance is building matter coding that includes area of law and process codes, which it says will foster innovation and provide consistency for buyers and sellers of legal services – needed for better pricing and analytics.” “SALI members include: Association of Legal Administrators…
Lawyers Are Drowning in Data. What Can They Do About It? “The ‘Why Lawyers Are Adopting AI Faster Than You’ panel at this year’s Legalweek will examine at how firms can use AI to find the needle in some pretty big data haystacks.” Link.
Harvard Law School Executive Education‘s David B. Wilkins and Maria Jose Esteban posted this summary: The Reemergence of the Big Four in Law. The full report is here.…