This pandemic changed everything, and it feels it started a new era, where everything became online. This change also dropped into legal sectors, making companies exploring their technologies for the bright future, which also means changing lawyers. The platform that was mostly used in this pandemic is Zoom, and it helped maintain many meetings and work online. We should also keep in mind that this pandemic was completely sudden. It changed the online system as it changed health, beauty, and lives. The clients are already on their path, and lawyers are ready to guide them. Microsoft declared that they saw two years of evolution in just two months by April.
The online era brought us many changes, and it led to a great impact on professions like attorneys or accountants, as they should be strong enough to bear this profound change. According to author David Moschella, their professions lie in their knowledge, and because of their knowledge and high information, it can lead to great success in business marketing.
"The beginning of machine language and artificial intelligence created an intense situation for lawyers."
Legal industries have made so far by facing so many hard times, unlike some goods and services like hailing for a taxi or something. Author and government advisor Richard Susskind stated that the sudden start of machine language and artificial intelligence had changed everything. As his 40 years of experience tells that this change has a great impact on the law.
The online system took a great turn between 2006 and 2016, making everything convenient, starting from traveling to eating food. Everything digitalizes, big companies, instead of gaining ownership, started doing streaming and sharing. But this current situation is more disturbing, according to the words of Mr. Moschella, as it can affect business law.
The starting of 2 waves [Innovation related to new marketing values] did not start well to regain the profession people lost. Still, the 3rd wave could most likely will" reported in 2017 report since big four accountancy and big law firms have started digital economic marketing, it's most likely that they are changing the traditional ways of working. "At the beginning of 60 years, technology was more going towards automation rather than revolutionizing. As Professor Susskind said, we are not revolutionizing, but instead, we are changing our technology from traditional ways.
If we look on the other side, multiple sectors are using technologies to change their services. There they relatively talk less about lawyers. Still, they are more concerned about their business models."
Excess of legal technology merged most companies, where most of these companies used AI and machine language to facilitate their lawyers. This includes laws like Ravel Law, which helps predict the possible outcomes related to case laws, Kira systems that help in contract analysis and due diligence, and last but not the least Virtual Pricing director dealing with prices by using advanced algorithms.
Authentic ways to Work in COVID situation:
In virtual collaboration, starting from technology to robots writing contracts, it seems traditional in companies' eyes but seems new to lawyers. This transformation of digitalization also transformed lawyers in this pandemic. Three trends that were stated by Sergio Letelier in front of, general counsel for M&A at Hewlett Packard Enterprise concludes that digital lawyering can be worsened if continued. Those trends are exploring the digital world;
The favourite thing for a lawyer to do is to print out documents and mark them out with a red pen. But according to Mr. Letelier, it is very hard for a lawyer to print that document from home and start working it through a word pad or Google Docs; it's just not that very much satisfying for him/her.
As The 2020 Future Ready Lawyer: Performance Drivers Survey report stated that keeping the advantages of legal technology aside, 76% of lawyers and 28% of their organizations are ready for this digital system, but what they don't know is how big of a gap it can create between trend and readiness. Moreover, COVID taught us many things, increasing the demand for legal technology and legal law firms.
Technologies that support remote and online co-operation will surely impact the continuation of business and clients. No doubts that law firms are ready to invest more in technologies. The same report reported that, in most European areas, the need for legal technology solutions is urgent in this pandemic, whereas 65 per cent reported that the investment they will carry out will maintain no effect but can increase if moving forward.
Top laws firms are ready to invest in high-class technologies that can help them improve, they are as follows (see Figure 2):
63% of required e-signature.
46% of management related to e-meeting and e-voting.
40% for handling the contracts, documents and work charts.
34% for operations related to work and automatic pieces of equipment.
The predicted 32% results were based on analysis and case law trend.
You must be thinking to figure out new ways of succeeding by investing in technology; well, don't think much about it. However, applying those technological tools to your law firms that you don't even know about can lead you to a big loss. The basic and important key is to figure out which type of tool you need and then invest. Following are the ways to determine the best tech partner.
Secure Your Data: Cloud technology has been in big demand in this pandemic, creating a cooperative environment remotely and working together. But keep in mind that remote tools can make your data unsecure, so the more sensitive data you keep, the more careful and secure you need to be when choosing tools for your law firm.
Simple Technology: Keep in mind wherever you invest, it surely should facilitate you with a simple technology solution. Some platforms based on administrative systems linked with MS Office or enable you to build apps and different workflows. Our advice is to invest in a simple plug and play platform which requires no code to automate your legal decisions like alf.
Automatic document creation: You need important tools to enhance your documents when you get many workloads; well, fear not, with smart legal workflows where you can add any legal MS Word template; after that, your associates, clients, and paralegals can ask you anything (completely based on the rules you want to apply) from your point of view.
Document collaboration: It is really hard to manage when working remotely; there can be multiple documents that you can't manage well we got the right solution for you, a cooperative store where all your documents, services and workflows will be present for you and your clients to access.