Innovation as a Growing Functional Area in the Firm

Innovation as a Growing Functional Area in the Firm

Law firms today need to think beyond just the legal services that they are offering right now. Technology will change the way that firms work and they will change the expectations that clients have when hiring a firm. Therefore, it makes sense to make sure that innovation is embraced by the firm, and that it becomes a functional area of the practice. This helps to ensure that the firm is always on the cutting edge and that they are able to provide their clients with the types of services they need.

Let’s examine some of the areas where innovation could really help to make the firm function better.

First, consider the benefits that AI could offer. One of the areas where AI might be able to help a firm is through invoicing. AI could automatically put in time sheets for attorneys, for example. When using the system, the AI will know that an attorney has had a 30-minute meeting, an hour meeting, and worked on research for a case for two hours. The AI could use that information to provide invoicing. The use of Big Data can help to predict litigation pricing as well.

When a firm brings in legal analytics and judicial analytics, it can make it faster and easier for them to conduct the research they need for a case. Rather than trying to do everything the traditional way, they are able to use technology to quickly and easily enter terms that provide them with the information they need when examining the outcome of previous cases, learning more about the judge’s rulings, and more.

When deciding that innovation is important and bringing in new technology, it is important to remember that it can only be successful if it is used properly. The legal team that will be using the technology needs to commit to learning how to use it the right way, and actually using it regularly.

One of the most important things to remember is that innovation will come from the top of the law firm. Without getting permission from those at the top, innovation will not be seen as important. Those who are considering finding ways to bring in better technology to their firm will want to get into contact with our consultants to learn how it can be implemented properly and used for the betterment of their practice.