NATIONAL HARBOR, MD, August 23, 2022 – Litera, a global leader in legal technology solutions, announced today the release of The Changing Lawyer Report 2022 at ILTACON. First published in 2017, the annual report looks at the challenges law firms and lawyers face as well as insight and analysis into what is driving law firms and the business of law.
With change comes new opportunities
Informed by extensive industry insight, research, and surveys undertaken by global legal analysts, subject matter experts, journalists, and lawyers, the Changing Lawyer Report concludes that during the past 12 months, technology has begun to transform legal departments and law firms. In particular, the "human" side of legal practice: work flexibility, job satisfaction, and customer experience – has been impacted.
The report includes a foreword from new Litera CEO Sheryl Hoskins and consists of seven articles and a summary of five key takeaways. Hoskins points out that in a period of significant change, "opportunities to leverage technology and data to enhance legal services abound." In every aspect of the practice and the business of law, technology and data enable law firms and in-house legal departments to provide better value and service to clients while enhancing the work experience for their lawyers.
The five trends to watch, with some representative data points from the report include:
- Allied professionals (process managers, technologists, data analysts, etc.) play a more significant role in supporting law firms and lawyers and enhancing legal service delivery. 83% of lawyers believe that allied professionals make their job easier.
- Automation is everywhere, as law firms turn to AI and other technologies to enhance the speed and accuracy of legal processes across all practice areas. 91% of lawyers expect AI-based document review to become a standard part of most M&A due diligence processes.
- Technology and data improve client service delivery by providing real-time insights about law firm performance, pricing and budgeting, and work allocation. 78% of lawyers agree that technology helps them offer a better client experience.
- Cloud-based solutions are taking over, driven partly by the obvious need for remote and blended workplace access to law firm applications that arose during the pandemic. Leading types of cloud applications that have been moved to the cloud include financial and practice management (64% of firms), document management (53%), portals and intranets (35%), and business intelligence platforms (31%).
- Changing work expectations are a significant driver of technology adoption when lawyer recruitment and retention are challenges for law firms. A new generation of lawyers sees technology as a path to better work/life balance. 53% of lawyers 'strongly agree' or 'agree' with the statement technology makes my job more enjoyable.
Get your copy
Visit the Litera Booth 301 at ILTACON 2022 to receive a copy of the report. Or download the report to read its findings in full.
Posted in The Changing Lawyer