Legal professions are positioning themselves to survive the many troughs and peaks of the ailing economy. However, what you might not know is that more trends are emerging day after day. Most of the trends help the legal firms and organizations run their operations in an efficient, competitive and productive way. Other trends are changing the attitudes, demographics and the working style. Legal technology has excited the imagination of both lawyers and non-lawyers. Here is how technology is changing the legal industry.
Legal practice management software in law firms
Software developers are working hard to facilitate the smooth running of law firms. They have released numerous applications that lawyers can use to improve their marketing, management of cases and improve the internal operations in addition to offering better services. Legal software applications such as Hoxro have helped law firms to collect and process customer data and comply with the existing data protection law. Software programs are also helping them to monitor the functioning of their firms.
Legal chatbots and robot lawyers
Chatbots and robot lawyers are not a very new concept but they are getting more sophisticated day after day. Today, they can do more than they did some years ago. They are able to mimic human behaviour and that might be the reason they have populated social media platforms. Law firms are using them to interact with their clients 24/7 and to service them immediately. For example, chatbots are able to deliver immediate answers. In the near future, robots are likely to handle 70 percent of law and the legal documents are likely to be automated.
Legal Artificial Intelligence
Everyone in the legal sector, including the senior judges, anticipates that he/she will have to rely on the legal AI technology to get data important in decision-making. Equally, large law firms have established teams that are helping them exploit opportunities associated with law technology. In addition to the review of documents, the conveyance is among the key candidates for technology innovation. Conveyancing allows clients to access the court processes, especially their transactions easily.
Technology in law courts
Judges will have to use legal artificial intelligence (AI) in the near future. The available AI technologies facilitate faster decision-making and prevent loss of credibility. Moreover, courts are more likely to start relying on video technology because it reduces expenses associated with physical hearings and the travelling of witnesses and the parties. Unfortunately, technology might introduce some more challenges such as the biases of judges and juries.
Blockchain in the legal sector
One of the big technological unknowns is the level of security blockchain technology offers. Some people believe that this form of technology is likely to eat into the traditional sources of income of lawyers. Currently, the big law firms are exploring some of the common standards for smart contracts based on blockchain technology, which can self-activate after a verifiable milestone is reached.
The legal world is rapidly changing and clients are now able to get assistance from the growing number of non-law professionals such as legal document preparers, paralegal technicians, legal websites, offshore legal vendors and virtual assistants. The new options have helped in the development of affordable legal services to disadvantaged populations and empowered citizens to address some legal matters. As the costs associated with legal services rise, more legal delivery models will come to being and gain momentum.
