A new era of legal technology and legal entrepreneurs are making huge waves in a sector not known for being receptive to technology or change, the legal sector.
New York, New York,
May 13, 2015 (Newswire.com) -
Says David Kinnear, a veteran of the legal technology and services space: "A new era of legal technology and legal entrepreneurs are making huge waves in a sector not known for being receptive to technology or change, the legal sector."
Within the last two years there has been a veritable groundswell of new thinking and new technology being considered to address some of the oldest questions in the legal services space. Not simply content to get rid of paper (that's old hat now), these newer entrants are challenging what needs to be done, what can be done by a computer - and what needs to be done by a lawyer, specifically. Add to that the sharp knife being taken to the notorious hourly billing structure with the introduction of fixed fee services and products. And in a interesting twist, some of the most agile tech (which uses Artificial Intelligence) is rapidly assembling the largest data set of its kind to help customers determine which lawyers win before which judges and likely outcomes at trial.
One of the not-terribly-secret secrets of the legal industry is its vast paper legacy and how slow it has been to adopt modern digital technology. Some opine that this simply reflected its buying audience. Others might say it has been a convenient and profitable path for years but shows signs of coming to a grinding halt as more users demand more data, digitally. Just in the last couple of years, the average consumer has become very used to the idea that we can and do capture massive amounts of data in real-time. On this we can run algorithms and the analytics that result drive decision-support for everything from buying a car to selecting a vacation. Except in law. Until now.
That's all about to change thanks to cutting edge new technology entrants like Premonition Analytics and Kelsen (which goes by the name "Ask Kelsen"). These new entrants are built on modern technology and designed entirely with "big data" in mind - so throwing the entire US Courts system at Premonition or Kelsen (for example) won't phase either. With extraordinary speed - light speed by comparison with legacy technology used by the rest of the industry - Premonition can capture millions of court cases - and turn it into helpful analysis for litigators and their clients. And if you have a legal question to ask, that's easy - just Ask Kelsen. It's built to answer your questions using NLP - the way most people think and speak.
So what does it mean? Well, it's great news for customers of legal services - and also for lawyers albeit some in the profession remain skeptical about change. That's unavoidable but also likely temporary. Statistics show that even lawyers are getting on board with using apps on smart devices and pressure from customers is growing. Technology like Premonition and Kelsen helps customers answer questions quickly and inexpensively - allowing them to make smart decisions about which lawyer to select, what the law says, and what their chances are at trial - just as examples.
Ironically, the legal industry may yet prove to be the highest profile example of digital transformation. I'm fortunate enough to be asked for my opinion by several of the technology companies driving this change, including Premonition and Kelsen.