This week I got to spend time with a few of my peers from other law firms in lovely Fort Lauderdale, Florida. We talked about the actual effects of new technology on the legal information industry, and the wins, losses, and draws when it comes to adoption to these new tools within their firms. It really helped to find others who are facing the same issues and learn from each other. It’s one of the best things about this industry, and that is the willingness to share ideas.
Just for fun, I asked Google’s NotebookLM to make a podcast about adoption of technology in the legal industry, and had the hosts compare this adoption to what happened to them when their band broke up. It ended up very interesting. Check that out here.
Here are some other stories that caught my attention this week. Remember, you can track these stories with the AI Lawyer Talking Tech podcast (Spotify or Apple) which covers legal tech news and summarizes stories on a daily basis.
CanLII Sues for Copyright Violation
The Canadian Legal Information Institute (CanLII) filed a lawsuit against Lexum, claiming copyright infringement over substantial portions of its legal database content. This case raises questions about open-access legal information and proprietary rights.
Source: Pique News Magazine
Leya and Calame Launch GenAI Partnership in France
Leya, a legal ops consultancy, and Calame, a group of French business law firms, have joined forces to offer AI-powered solutions. Their collaboration aims to streamline legal tasks such as contract review and due diligence, potentially revolutionizing legal services in the French market.
Source: Artificial Lawyer
The LegalTech Fund’s Zach Posner on Legal Tech Investment Trends
Zach Posner of The LegalTech Fund discusses a shift from early-stage investments to mature, revenue-generating companies in legal tech. This trend reflects a preference for established companies with proven market fit.
Source: LawNext Podcast
Ditch the Dinosaurs, Embrace the Digital
The legal industry is experiencing a push towards modernization, with law firms adopting cloud computing, automation, and AI to stay competitive. This shift helps firms improve client service, efficiency, and profitability by automating routine tasks like document review and legal research.
Source: Legaltech on Medium
PROWESS Platform to Transform Legal Talent Management
Leopard Solutions’ PROWESS platform is reshaping legal recruitment by using data and analytics to match law firms with freelance attorneys. This innovation offers firms flexibility in staffing and lawyers more control over their careers.
Source: The Geek in Review Podcast
Veritext Legal Solutions Unveils Rough Draft Smart Summaries
Veritext Legal Solutions launched Rough Draft Smart Summaries, an AI tool that condenses depositions, streamlining preparation for legal professionals. The tool reflects Veritext’s commitment to enhancing efficiency with AI-driven solutions for better trial and motion preparation.
Source: Legal Technology News – Legal IT Professionals
How Legal Data APIs are Driving Law Firm Growth
LexisNexis highlights the value of data APIs, which provide actionable insights for business development, helping firms optimize client targeting, competitive analysis, and strategic planning.
Source: LexisNexis
NetDocuments Debuts ndMAX AI Assistant
NetDocuments launched ndMAX, a new AI-powered assistant aimed at automating tasks like document creation and email management. The tool could significantly free up lawyers’ time for higher-level work by streamlining document-related tasks
Source: Legal IT Insider
Knowable Names New CEO
Nik Reed, co-founder of Ravel Law and former COO at Knowable, has been appointed CEO of the contract analysis platform, aiming to enhance its services for corporate legal departments. With $30 million in Series B funding, Knowable is set to expand its reach within the legal tech market.
Source: LawNext
AI Adoption Driving Growth
A Thomson Reuters study found that early AI adopters in the legal field are experiencing substantial growth, with revenue up by 14% and increased caseloads. This boost is largely attributed to the automation of routine tasks, improving client satisfaction and firm profitability.
Source: Thomson Reuters.