On 14 February, Law Society of England and Wales launched its LawTech adoption report which examines the latest trands in legal tech and the uptake of the new technologies by law firms. It highlights the key developments in this area and what this means for the work of the profession and the business of law.
The report points out that the pressure to use or enhance the use of lawtech has increased, partly due to the need for greater efficiency, increasing workloads and complexity of work and partly due to the gearter client pressure on speedy delivery of services. However, this pressure has not been accompanied by a decrase in barriers to uptaking new technologies. These are in particular the barriers that are fundamental for law firms: partnership model and billable hours model, risks around compliance, and varying levels of awareness and confidence.
The report also found out that different technologies are at different stages of maturity. While business-to-business solutions are the most mature (with collaboration tools, document management, legal analytics or IP management and e-billing), business-to-consumer solutions (like chatbots, robo-lawyers or triage tools) tend to lag behind.
Finally, the report recognises that the lawtech adoption, and resulting new delivery models and more competition in the sector, will have significant impact on the skills needs in law.