A strange finding on the use of NewLaw providers by BigLaw firms focuses a seeming omission in the 2016 Alternative Legal Service (ALS) Study by the Thomson Reuters Legal Executive Institute, Georgetown University’s Law Center for the Study of the Legal Profession and Oxford’s Saïd Business School.
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This post on ‘Why BigLaw firms fail’ aims to help prevent future failure of more firms.
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This month I am delighted to welcome Catherine J. (CJ) Moynihan as a contributor to Dialogue. As a senior director of legal management services at the Association of Corporate Counsel, she is the subject matter expert on managing the legal function, legal spending, and the ACC Value Challenge. Catherine has many and special perspectives on changes in the legal services supply chain, especially those being driven by clients.
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New players driving value for legal departments was written by Mark Cohen and Liam Brown and originally appeared in Canadian Corporate Counsel Association magazine. As I read it, the key point Mark and Liam make is that the NewLaw players, while still tiny in market share, are teaching clients new tricks. And this spells big opportunity – or trouble if they’re asleep at the wheel – for BigLaw incumbents.
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In Artificial Lawyer, Richard Tromans reports that Herbert Smith Freehills (HSF) has set out its approach to the use of legal AI in a major report published on September 14, 2017. HSF joins a growing number of law firms to now publicly embrace the use of AI and to actively engage with clients to find out what services they want to be supported by machine learning and natural language processing (NLP) technology.
The report is in part a sort of ‘beginner’s guide’ educational work to explain to readers what legal AI is all about, but also more interestingly sets out HSF’s own views on what legal AI will do for the legal sector and how the firm is approaching the subject.
Clients’ views on legal AI
The firm has also published feedback from its clients on how they see the adoption of AI among their legal advisers. And this is perhaps the best bit of the report.
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