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How to Evaluate Legal Technology that Improves Efficiency | Legal IT Insider
For example, a lot of the new technology will require significant manpower (often, non-billable) to train and manage the inputs and outputs of the technology; this can be very true of machine learning technology but is not limited to just machine learning technology.  Sometimes these costs are borne by the vendor and incorporated into the cost of the product but, in other contexts, the new users need to train, configure or set-up the technology before it can be reliably used.  This means there can be significant labour and time costs imposed on a purchaser in addition to the cost of licensing or acquiring the software or technology system.

In addition to this labour cost, there can be costs associated with cleaning up data, implementing new workflows or in training before the technology can be relied upon actually to replace the work carried out by humans or permit humans to trust it to use it without human intervention.  During this period there can be significant loss of productivity with hours diverted from billable work, not to mention the need to duplicate efforts (while training or testing the outputs from the technology).  This time and these costs are often not factored into the evaluations of cost-savings possible when “efficiency technology” is used but these are important to factor into any assessment of the cost of the new technology and to evaluate the total cost and RoI of the service delivery associated with its purchase.

Introducing technology to achieve efficiency is still a significant innovation.  There can be challenges to business models associated with the introduction of this kind of technology, as has happened with the movement of much document review to lower-cost and specialty providers.  But efficiency is often really secondary to what has actually happened:  the removal and/or replacement of lawyers from delivery of the work, largely because the technology allowed for standardising an aspect of their work that formerly required opaque judgments that previously could not be easily measured.
strategy  it  firms 
6 hours ago by JordanFurlong
Tools & Info for SysAdmins - Mega Summary Q4 (Over 80 Items)
Hi [r/sysadmin](https://www.reddit.com/r/sysadmin), Each week I thought I'd post these SysAdmin tools, tips, tutorials etc with [just one link to...
work  it  software  list  sysadmin  reddit 
11 hours ago by egwillim
Are Cybersecurity Solutions and Consulting a New Revenue Stream for Law Firms? | Legaltech News
Recently, Keesal Young & Logan’s client consulting team spun up a sister company, Keesal Propulsion Labs (KPL), to augment its service offerings for key clients through a partnership with Mitratech for Mitratech’s TAP Workflow Automation and Privva for Third-Party Vendor Risk Management. The law firm leverages the Privva platform for vendor risk assessment on behalf of the firm and as part of the firm’s client-facing cyber risk practice, and KPL is building custom legal and business process automation workflows on TAP for clients in Silicon Valley and on Wall Street.

These are not just tools purchased; KPL meets with Privva and Mitratech regularly and has become part of the development feedback loop, helping to improve the products by sharing lessons learned in the field.

“By investing our time and energy in our relationships with these strategic partners, we are able to provide integrated solutions featuring best-in-class people, process and tech — each professional and organization focusing on what they do best, while all acting as one unit” says Justin Hectus, KPL Principal and Keesal Young & Logan’s CIO/CISO and a member of Cybersecurity Law & Strategy’s Board of Editors.

A Worldwide Development
subsidiaries  innovation  it 
2 days ago by JordanFurlong
Slaughter and May, Others Invest $10 Million in Legal Tech Provider Luminance | Legaltech News
Machine learning-powered legal tech service provider Luminance has announced it raised $10 million from previous investors, including Magic Circle firm Slaughter and May.
The announcement on Feb. 7 said the $10 million was also backed by Invoke Capital and Talis Capital. Luminance currently offers compliance; due diligence/risk identification; lease review and portfolio analysis; and e-discovery platforms with plans to expand its user base to more law firms around the globe.

Luminance Technologies CEO Emily Foges said the recent investment would be used to acquire more office space, developers and increase its sales team.
Foges said the salespeople will be critical in explaining to law firms how Luminance can help their practice. To Foges, Luminance enhances the speed of legal services through artificial intelligence and maintains the firm’s quality through the lawyer’s input and the software’s machine learning.
innovation  subsidiaries  it 
2 days ago by JordanFurlong
Allen & Overy Brings Fuse Incubator to Its New York Offices | Legaltech News
This week, attorneys at Allen & Overy’s New York office are being tasked with bringing some creativity to legal services. But they won’t be doing it alone. As part of the law firm’s “U.S. Legal Tech Week,” its New York-based attorneys and clients will have a chance to interact and collaborate with four startups from the firm’s Fuse incubator.
To be sure, this isn’t the first time these Allen & Overy attorneys have come into contact with Fuse. Shruti Ajitsaria, head of Fuse and counsel at Allen & Overy, said the firm regularly hosts video conferencing sessions between its worldwide offices and its incubator, which is housed at the firm’s London headquarters.

The U.S. Legal Tech Week, however, will be the first chance attorneys in New York get to interact with Fuse startups in person. “What we haven’t been able to do up until now is bring [Fuse] members to New York and develop a relationship of trust and a one-to-one relationship,” Ajitsaria said.
Fuse, which launched in 2017 and supports a rotating mix of eight startups, is somewhat different from other incubators in the legal market in that it focuses solely on fostering legal tech innovation and forgoes equity investment.
innovation  subsidiaries  it 
2 days ago by JordanFurlong
Albany Law Students Create Tech Tool for Businesses to Obtain Nonprofit Status | Legaltech News
Albany Law School students have released a web-based Nonprofit Formation Tool to assist lawyers with clients attempting to gain nonprofit status.
The idea for the tool was formed during a “Law of Social Entrepreneurship and Exempt Organizations” course in fall 2017. The Nonprofit Formation Tool allows lawyers to easily create the certificate of incorporation and bylaws, important documents needed to gain status as a nonprofit in New York state. The documents are created after lawyers answer a few questions in a web-based program. The questions and program were created by Albany Law School students through the cloud-based program building A2J Author software.

The idea for the tool sprung from students observing a legal need in Albany.
“It was something needed in the community, something beneficial, and brings their [Albany Law School students] learned expertise they’ve developed in the course and spread that around with this digital tool,” said Ray Brescia, an Albany Law School professor and leader of the course. Brescia added that the tool received feedback from lawyers in the community and those in the nonprofit sector.

The Nonprofit Formation Tool requires lawyers not to charge clients when using the software. The program is only accessible for lawyers admitted to the New York bar, who must enter their attorney registration number when applying to use the tool.

While lawyers who counsel simple corporate structures is the tool’s largest projected demographic, Brescia said the software’s convenience may also encourage pro bono services.

“[It’s] really a reflection of the need in the community. We wanted to make it as easy as possible for lawyers representing nonprofits,” Brescia added. “It might encourage more lawyers to take this on pro bono as well, if they had this tool.”
schools  access  it 
2 days ago by JordanFurlong
Allen & Overy Expands Consulting Arm, Launches Client News Service | Legaltech News
Allen & Overy is ramping up its alternative client offering with the use of a new tool developed in its tech incubation program Fuse, as well as expanding its consulting business in Australia.

The new product, Vable Connect, provides a web-based platform that enables clients to receive research and news on relevant matters via their lawyers.
Information provider Vable was part of A&O’s first Fuse tech program intake in 2017 and worked with the firm to create a product that collates online news and information for lawyers to send to clients. It was founded in 2004 by former Manches lawyer Matthew Dickinson.

A&O global head of research and library services Sarah Fahy said that clients want “the right information coming to them in the right quantity,” but often “don’t have the staff and skills in-house to do their own research on an ongoing basis.”

Dickinson added that A&O has been the “driving force” behind the new product and that the new platform has the potential to turn firms’ library teams, traditionally seen as a cost center within a business, into a “value-add” service.
km  it  innovation  firms 
2 days ago by JordanFurlong

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