CEO and founder Rakesh Sangani shares his perspective on automation and lawtech at Future Lawyers Week:
Most people are familiar with the urban legend that NASA spent millions inventing a ‘space pen’ that worked without the power of gravity while the Soviet Union just used pencils. The truth behind the story is questionable but the legend remains a powerful example of mind over money.
So how does this apply to law tech?
Like American and Russia during space race of the 60s, UK law firms are competing to gain a competitive advantage with the most advanced technology available. Analytics and business intelligence are providing vital insights.
Just as importantly, 82% of legal departments expect workloads to increase so greater automation, hyper-automation, is becoming increasingly essential to free staff up to work on high-value tasks. On top of this, task mining and process mining are being used to further automate systems and minimise costs.
Firms who don’t undergo digital transformation and aggressively modernise are being left in the dust.