We have been looking at emerging and disruptive technologies particularly the rise of artificial intelligence and advanced analytics and how they will impact the legal services industry in 2021. If your organisation is wondering the same thing, then these are the top technology trends you should be watching in 2021.
There is a colossal amount of data within a law firm and no other firm like THB Legal, a team of solicitors in Chelmsford recognise this more. This amount of data only continues to grow as a company’s client base increases or the longer a specific case takes to settle. And then, add in the amount of data held in eDiscovery platforms and court records and the capability in which to manually manage this data becomes impossible.
Although, the advancement in analytical search engines is helping law firms bring order to their data from a search relevance and information governance context. Artificial intelligence and machine software that can crawl through millions of points is allowing for data to be found that quite often humans would miss. This software also means that the data is handled more time efficiently which ultimately means money saved.
Although artificial intelligence has evolved substantially over the past few years, it is still considered to be in the early stages of development. As more and more innovative and disruptive technologies enter the market, it will continue to shift the current capabilities from classificatory to prognostic. Some of the examples of artificial intelligence in law include the ability to map out the inclinations of some judges which can help those who provide legal services predict the rulings of some cases or gain a better understanding of the tactics used by an opposition. For those outside the UK legal services sector, this may sound extraordinary, but as technology further evolves, the opportunities that artificial intelligence will open doors will be endless.
Cloud technology has played a big part in the digital disruption within the legal industry. 2018 saw a record number of legal firms adopting and migrating to cloud technology, and it doesn’t seem to be slowing down anytime in the future. From a utility perspective, it’s easy for law firms to just pay for what they consume and when they need it which saves time, money and other resources as well.
As cloud computing takes over from traditional desktop and file usage, digital security is a growing concern for law firms within the UK legal services sector. As of 2018, there isn’t any formal legal industry standard for the protection of data in the cloud. You would think that the Legal Services Act 2007 would have been amended, but it hasn’t. However, the good news is that the technology in this area is evolving so cloud storage is becoming increasingly safer.
Less than five years, social media for law firms and legal professionals was largely considered unnecessary. It was generally seen as a time-wasting means of communication with only a small handful of businesses taking advantage of it. This opinion has now changed significantly. In the past, firms and legal professionals were primarily contactable via phone. But today they are using social media platforms for marketing and communication purposes which gives clients or prospective new clients a new means of contact.
LinkedIn is the most popular social media platform within the legal arena as it’s primarily a B2B channel. For professionals, LinkedIn can be one of the greatest assets of social media due to the plethora of networking opportunities that it offers. In a short amount of time, you can bridge new connections within the industry and increase your firm’s area of influence.
LinkedIn for those who provide legal services is going to become more important in 2021. Here are our top 5 tips for those looking to exploit the platform next year.
Commit to Marketing on LinkedIn.
LinkedIn recently crossed the half-billion user mark. That’s a lot of business-t
argeted users you can use to your company’s advantage. A pool of experienced job applicants you can call upon when you need new staff. Loads of hungry customers that now or may later require the services you offer. Who could ask for more out of a social platform?
Work on your Profile First.
Your profile has to reach out to potential clients for you. This isn’t Instagram or Facebook — most decision-makers aren’t going to give more than a passing glance at your profile. If you are working in the legal services market then it’s essential that you create a professional yet compelling profile.
Put a lot of Focus on Joining/Forming LinkedIn Groups.
Join any group that relates to the services that your firm offers. In fact, as soon as your profile is up to snuff, you should spend several hours looking for active groups talking about a subject matter you can chime in on.
Invest in Swipe-Up ads.
While your outreach should focus on getting as many eyes as possible on your brand, swipe-up ads should be very niche targeted. Even if you serve a broad client base, you should still niche down and target ads to the specific set of eyes that might be interested in your firm’s services.