Future-Ready Legal Practices: AI, Cloud Migration, and Data Management in Law Firms
In the ever-evolving landscape of the legal industry, staying ahead requires embracing emerging technologies.
A comprehensive survey by Legal Tech News, Law.com, and Litera delves into how law firms are integrating these technologies, with a particular focus on AI, cloud migration, and data management. Below is a summary of the key findings from this insightful report about what to expect in the future of legal practices.
Adoption of Generative AI (GenAI)
Law firms are showing a strong inclination toward GenAI, with a significant majority either using or planning to use these tools. In fact, survey results show that 69% of firms utilize GenAI for document creation and proofreading. Despite the benefits, concerns about the accuracy (35%) and security (28%) of AI tools persist but have not slowed down the adoption of GenAI technology.
Technology Performance
The performance of essential applications like Microsoft Word and Outlook is crucial for maintaining productivity in legal practices. The survey reveals that most users experience slow loading times, with the majority reporting load times of up to 5 minutes for these applications. This indicates a need for technology companies and IT professionals to work together to find ways to speed load times and minimize productivity interruptions.
Data Management Practices
A critical finding from the survey is the continued reliance on manual processes for data management. More than half of the firms manually extract insights from data for decision-making, with only 36% using specialized analytics tools and 35% relying on spreadsheets or basic software. This highlights a significant opportunity for improving efficiency and accuracy through advanced analytics tools.
Training and Support
Training and support for new technologies are essential for their effective utilization. The survey indicates that 57% of firms provide sufficient training for new technologies like Outlook and GenAI tools. However, 22% of respondents feel that the support is insufficient, pointing to a need for enhanced training programs to ensure these technologies are used effectively.
Cloud Migration and Management
Cloud migration readiness varies among law firms, with 49% considering themselves mostly prepared and 21% fully prepared. However, data management difficulties (25%) and security concerns (28%) are major challenges faced during cloud migration. Addressing these concerns is critical for a successful transition to cloud-based systems.
How Litera Can Help
For over 25 years, Litera has provided powerful and user-friendly legal tools that simplify, secure, and organize firm knowledge and experience. With innovative solutions like Litera Draft, Foundation Dragon, CAM, and FileTrail, Litera helps law firms enhance efficiency, governance, and productivity.
Ready to learn more? For a full analysis of results and recommendations, download the full report, “Future-Ready Legal Practices: AI, Cloud Migration, and Data Management in Law Firms.” Download survey here.
