The legal industry will consume technology as any other industry. There is no doubt about that, It is a question of time depending on different factors like the lawyers' responsiveness, the availability of data which technology needs to process, the occurrence of external events stimulating technology adoption (i.e. Covid) and many others.
One we should not underestimate is the technology maturity for the specific domain. We have heard so many times that lawyers are not entirely satisfied with existing technology solutions and are juggling multiple subscriptions to cover the explosion of data and the propagation of their sources.
The ability to investigate efficiently is key to every lawyer and is a strategic theme for every law firm in order to keep an edge over competition and also to retain their talents. There are numerous reports out there mentioning the huge amount of time spent in searching for information. And you can easily imagine how distressing it can be for junior lawyers who are deeply scrutinizing the information and left without the right tooling. Equipping them with a powerful investigation capability can help raise their productivity overall.
Therefore, sometimes, it is good to pause, rethink the process from scratch and come up with a new approach. And Legal research is not immune to that.
The key is to bring agility to law firms by providing them a swiss knife in their pocket
Of course, EisphorIA uses advanced technology (NLP) and we have already explained in details here and here. But, the trickiest is how to serve this wonderful technology in the right way to truly enable productivity gains. We know, content wise, we don't have much more than other competitors but we are increasing the number of customers who like our approach of investigating and organizing the data and enabling collaboration among colleagues. Furthermore, they understand that instead of multiplying tools and subscriptions , they need to be able to centralize and organize the relevant information on one single platform equipped with the deepest investigation capabilities.
More and more data is digitized and becomes available online. The key is to bring agility to law firms by providing them a swiss knife in their pocket to ensure they can perform multiple investigations seamlessly. And our expertise of rapidly collecting data from multiple sources in different formats (pdf, word, email,….) combined with the ability to search efficiently and transversally across all the sources is clearly helping to lower the time spent in searching..
Whether these sources are public (case law, competition law decisions,…) or confidential (internal knowledge, due diligence, internal audits,…), we enable a consistent investigation experience. One that is fast, cost effective, and one that lights up collaboration with colleagues, co-counsels and customers.
We would be more than happy to further discuss/share our vision and we are of course always interested in building close collaboration with our customers to truly raise the technology maturity to a higher level!
Interested? Book some time with us.