The year is almost over and with the emergence of 2019 comes a host of new and upgraded tech trends that can add substantial value to your law firm. Tech firms across the country are releasing their lists of top tech trends for 2019. Below, we’ll go through some these trends and examine how they can help lawyers say goodbye to 2018 and hello to an innovative, more secure, and profitable new year.
As cyber attackers continuously come up with ways to steal your law firm data, security experts are busy trying to identify these threats and create strategies to fight against them. An ABA study reported that 44% of US law firms experienced a security threat and breech in 2017. If you do not want to be counted in that statistic for 2019, you have to embrace and implement new cybersecurity technologies.
Experts say that there are hundreds, if not thousands, of new threats detected every single day. To deal with these threats, legal cybersecurity companies are strengthening their protection technologies. With an emphasis on integration, automation, and real-time detection, improved and developing cybersecurity measures are unquestionably on trend for 2019.
Legal Research Technology
Artificial Intelligence (AI) innovations are changing the way that lawyers and legal professionals handle the time-consuming task of legal research. These new technologies use natural language processing to quickly and efficiently sort through cases and statutes, finding those that are relevant to your subject matter.
With these new innovations, you only have to upload a brief or pleading into the database to find and access cases, summaries, and legal analysis. There is even AI software on the market that does the work of Shepardizes cases for you.
Like most AI technologies, these platforms can save you an extensive amount of time and provide you with increased confidence in your research. With a mobile legal research software, you can double check the accuracy and currency of your research right before, and even during, the litigation process.
Case Outcome Predictions
AI is also expected to have an impact in the area of outcome predictions. Using data and algorithms, AI systems have the ability to predict the outcome of legal cases. In some cases, these AI predictions have been proven even more accurate than human predictions. Researchers and inventors are hopeful that these innovations will open the door to greater analytical analysis within the legal community, helping lawyers to increase their success rates and provide clients with more accurate expectations about their cases.
A good deal of legal practice time involves the creation of documents. From pleadings and to contracts, to settlement agreements, lawyers are constantly working to draft and perfect documents. Document automation software uses the latest technology to draft documents more quickly and accurately than can be done manually.
Once data is uploaded into the software, the system automates the drafting process. The program can include an entire suite of related documents from the input of one data set. It can even identify the need for inclusion of certain clauses. All of the inputted data can then be reused to save you and your firm staff valuable time.
This new and innovative type of workflow can free you to handle more profitable matters and reduce your costs for service delivery – leading to greater profitability.
Visual analytics is defined as the application of “analysis and reasoning to information sets using some sort of visual means. It combines the best of a person’s capabilities (decision making, analysis, and reasoning) with the number crunching capabilities of a computer… through a visual interface.”
This is the latest tool to innovate the often overly-cumbersome and time-consuming process of document review. Recognizing the need for quick access to key case information, tech companies are developing software that uses visual analytics to assist lawyers in efficiently building cases from the very beginning and reducing document review costs.
As risk mitigation becomes more crucial within the legal industry, law firms are having to find more secure methods of handling their records management. Large corporations are routinely implementing stricter information governance (IG) policies, and law firms are being forced to comply or lose profitable clients.
Many legal practices are ill-prepared to handle these requirements, particularly due to the challenge of managing paper and electronic files. Electronic data may be stored on numerous platforms, while paper data may be located at on-site and off-site locations. Innovative IG software platforms are helping law firms manage all of their records in a concise and efficient manner, no matter their storage location.
These technologies are automated and produce audit trails for paper, electronic, and transactional records for easy reporting and compliance auditing.
The use of legal project management will continue to spread throughout the legal profession in 2019, so lawyers will increasingly need innovative LPM technologies to successfully implement their projects. Innovative platforms, like TimeSolv, provide attorneys with the tools to manage projects and each of the included tasks.
Time Solv’s legal billing system includes LPM capabilities that allow law firms to streamline their processes, and review matters for profitability and efficiency before and during the case. With the ability to divide projects into small tasks, and extensive oversight procedures, attorneys can better utilize their time and resources toward greater profitability.
Embrace tech trends in the coming year
Believe it or not… 2018 is almost over. It’s time to take a good look at the technical capabilities of your law firm and consider implementing new technologies that will allow your law office staff to work smarter and not harder. Take this new year as an opportunity to embrace new tech trends and up your practice game.