Legal Tech
Yesterday's developments in the legal tech industry focused on recession-proofing businesses, trademark infringement, generative AI adoption, visual matter management systems, and UK NQ lawyer salaries.
Funding
Explore the evolving legal tech landscape, focusing on AI integration, cybersecurity, and data management challenges, while navigating ethical concerns and regulatory hurdles.
Legal Tech
Thomson Reuters acquires Casetext for a cool $650m 💸💸💸
AI
Law firms must adopt new technologies while balancing them with human oversight to stay relevant in a competitive landscape. They should also adopt robust security measures to ensure client confidentiality and compliance with data privacy laws.
AI
Visalaw and American Immigration Lawyers Association launching AI product, ECFX gets $7m funding.
Funding
A new law firm maturity index, Dealcloser's funding & more. The industry is being disrupted by digitization and automation.
Legal Tech
Legal tech firms like Pre/Dicta use data science to predict case outcomes, while law firms focus on billing behavior. Self-care and technology integration are also vital for industry success.
AI
UK law firm Addleshaw Goddard aims to build its own private ChatGPT application powered by OpenAI. In-house lawyers express greater job satisfaction than their counterparts, according to a Deloitte survey.
Secuirty
Legal tech developments include the rise of passkeys, increasing importance of emerging tech, and Lit Software's appointment of Derek Miller as advisor. Ongoing development and ethical AI use are crucial for success.
News
AI in legal research needs knowledge of its limitations and usage within acceptable parameters, Big Law CXO hire, and the European Legal Tech conference.
eDiscovery
The rise of AI & data-driven solutions takes center stage. Ethical concerns regarding AI use in the profession, following the discovery of lawyers submitting fake legal opinions.
News
Leigh Day law firm embraces inclusivity, allowing non-legal staff to become partners. Cultural competency skills are emphasized for attorneys. Contract management software leads to legal tech usage. AI limitations and certification debated.