The Inevitable

As a legal professional, it still boggles my mind to see colleagues come to examination under oath with nothing but a pen and paper. I try to justify it by thinking they are trying to increase their billable time, as it usually takes them at least 50% longer complete the process. In today's fast-paced world, it's hard to deny the overwhelming presence and influence of technology. From the way we communicate with each other to the way we do business, technology has completely transformed the way we live and work. And as we continue to push the boundaries of what's possible, one thing is becoming increasingly clear: the advancement of technology is inevitable.

The legal industry is no exception, this means that lawyers and legal professionals must adapt to these changes or risk being left behind. The days of sifting through stacks of papers and relying on outdated systems are numbered. In their place, we are seeing a surge in the use of legal technology, such as artificial intelligence, machine learning, and cloud-based systems, to streamline processes and improve efficiency. Companies like LawGeex, which offers an AI-powered contract review platform, and Neota Logic, which provides a platform for building custom AI-powered legal applications, are leading the charge in this space.

Another company that is helping law firms with their practice through the use of technology is Alexsei. My friend Daniel Diamond, a former lawyer and partner at Diamond & Diamond Lawyers, left his law practice to pursue a different path, and is now the Head of Growth at Alexsei. The company works by allowing clients to submit their legal questions, which are then reviewed and synthesized by Alexsei's A.I. and research lawyers. The company then produces a legal research memo with a conclusion, caselaw summaries, and a full list of authorities for its clients. Alexsei's algorithms are trained on over 30 million pairs of questions and answers, and can answer most questions with greater accuracy and speed than using the traditional method of sifting through caselaw on a database.

But the impact of technology isn't limited to just the way we do our jobs. It's also changing the very nature of the legal industry itself. For example, the rise of online dispute resolution platforms like Modria, which utilizes AI and machine learning to facilitate negotiations and help parties come to a resolution, is disrupting traditional models of dispute resolution. And the use of blockchain for legal contracts, such as the smart contracts offered by Blockstream, is disrupting traditional models of contract negotiation.

The advancement of technology is also changing the way that legal professionals find work and build their careers. Recruitment companies are increasingly using technology, such as artificial intelligence and machine learning, to match job seekers with potential employers and streamline the hiring process. For example, at Emplori Recruiting Services we are working towards creating a systems that offers an AI-powered recruitment platform that use algorithms to analyze resumes and assess candidates' fit for a role.

This shift towards technology-driven recruitment can bring both benefits and challenges for legal professionals. On the one hand, it can make it easier for job seekers to find opportunities and for employers to find the best candidates. On the other hand, it's important for legal professionals to stay up-to-date on the latest technologies and be able to demonstrate their skills and expertise in this area to stand out in the job market.

One technology that we must play close attention to in the legal industry is the metaverse, a virtual shared space that is created by the convergence of virtually enhanced physical reality and physically persistent virtual space. In the metaverse, people can interact with each other and with virtual objects and experiences in a way that is similar to the real world.

This technology has the potential to revolutionize the way that legal professionals work and interact with clients. For example, instead of meeting in person, lawyers and clients could meet in a virtual reality courtroom or conference room. This could save time and money, and make it easier for legal professionals to work with clients from anywhere in the world. I personally believe this technology is a few years away from being a reality, and even longer from finding its way into courtrooms, but then again I do not believe many of us anticipated Zoom hearings become prevalent just 2 years ago.

It's still early days for the metaverse, but it's clear that this technology has the potential to significantly change the legal industry. As with any new technology, there will be challenges and obstacles to overcome, but those who embrace the metaverse and seek to understand and utilize its potential will be well-positioned to succeed in the future.

So, what does this mean for the future of the legal profession? It's simple: adapt or fail. Those who embrace technology and seek to understand and utilize its potential will thrive in this new landscape. On the other hand, those who resist change and cling to old ways of doing things will struggle to stay relevant in an increasingly tech-driven world.

But it's not all doom and gloom. The advancement of technology also presents a wealth of opportunities for those in the legal industry. By leveraging the power of technology, legal professionals can provide better and more efficient services to their clients, improve their own productivity, and stay ahead of the curve in an increasingly competitive marketplace.