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of the recurring themes running through all of our LexisNexis reports this year is the growing importance of technology. The vast majority of lawyers we’ve interviewed agreed that they “must” invest in and adopt new technology to
survive the next five years.
But, according to the latest Bellwether Report; The Riddle of Perception, it seems many lawyers are still reluctant to use it throughout the business. And a whopping 87% of firms don’t see the advantages of using artificial intelligence tools
to inform their decisions at all.
So what’s the problem? Why if we’re agreed that law firms won’t survive without investment in technology are so many lawyers still not adopting these powerful new tools?
The report suggests that it’s because most lawyers have a tendency to believe their own practice is better equipped than others to confront technology challenges. That it’s simply a matter of seeing what they want to see.
It also suggests that lawyers are not always clear about what it means to adopt new technology. Some think that simply having a website and social media account is embracing technology, while others are looking at technology solutions throughout the business,
driving efficiency of client servicing, adopting Bespoke Precedents and Calculators, Drafting and Proof-reading tools, Checklists and Flowcharts.
Those lawyers interviewed criticised their own profession for “not understanding the client’s commercial realities”, for being &ldq
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