Legal technology is helping lawyers streamline their practices and grow faster than ever before. This article covers the benefits of cloud-native solutions, artificial intelligence, smart contracts, and social media for law firms.
Technology is rapidly changing, providing new opportunities for legal professionals to grow and scale their firms. There is much to learn from cloud-native solutions, artificial intelligence, smart contracts, and social media. While the terms may sound foreign, they are easier to conceptualize than you might think. This blog post will walk you through the latest legal technology solutions and trends.
In simple terms, cloud-based solutions improve scalability, flexibility, and reliability. The cloud is a software you can access through the internet from any device. Data is stored remotely in a secure environment.
One of the primary benefits of the cloud is that it allows for the cost-effective storage of documents. You can easily access your files at any time from your devices. The cloud allows you more flexibility when looking over paperwork on the go and avoids the possibility of misplacing files.
You can scale the amount of storage as needed to grow with your law firm. The cloud is also very reliable because it's easy to migrate the servers if a failure occurs. Since more legal work has gone remote, cloud-native solutions have become increasingly popular tools for lawyers to manage documents securely online.
Artificial intelligence is a term used to describe when computer systems perform tasks that once required human intervention. AI uses computer science to mimic human intelligence for problem-solving. The Intaker chatbot is an example of how AI can serve lawyers.
Intaker uses machine learning to create a customizable and personalized user experience. Lawyers can record themselves talking to make a connection with website visitors instantly. From there, AI handles the script walking leads through the intake process.
Artificial intelligence benefits the legal industry in other ways, including reviewing contracts, predicting legal outcomes, and recommending judicial decisions. For example, the legal technology company Lawgeex is a contract review automation platform. QuickCheck is another intelligent document analysis program that helps you improve authority and pinpoint weaknesses.
While there has been some concern surrounding AI taking human jobs, its purpose is to complement lawyers, not replace them. It is a tool that allows lawyers to work more efficiently and scale their law firms faster.
Smart contracts are a new phenomenon that could cut out the middle man, aka the lawyer, in some cases. They utilize blockchain technology, where transaction records are securely stored relating to cryptocurrency. Smart contracts are executed in this software.
A person could purchase a template contract in cryptocurrency and immediately access the document. A popular real-world example is using smart contracts when renting out a home. Landlords and tenants generally sign a rental agreement, and now this process can be digitized.
Smart contracts are still in the early stages of development. They are ideal for simple agreements that don't require much customization. While it may seem intimidating that they are cutting out the middleman, there will still be plenty of work for legal professionals.
Clients who want to use digital contracts for more custom use cases will still need to seek an attorney. Smart contracts are efficient and secure for simple agreements but can't compete with a lawyer for advanced issues.
Another legal technology trend is the increased use of social media as a marketing tool. While TikTok may have started as a popular app for teenagers, it is used widely by professionals now. Lawyers across the globe use TikTok to reach a target audience and generate leads. Examples of viral lawyers include Anthony Barbuto, Ugo Lord, and Kathleen Martinez.
Even if TikTok isn't your platform of choice, using Twitter, Instagram, LinkedIn, or Facebook can all benefit your practice. Choosing one or two platforms to focus on will allow you to build credibility online without burning yourself out. Social media is the perfect way to showcase your law firm's personality and make a positive impression on future clients.
Create informational content that provides value and answers commonly asked questions. By doing so, you can build up an online presence and gain followers. Down the line, if your followers need a lawyer, you will be at the top of their minds.
Lawyers have been slow to take advantage of social media. There is still room to make a name for yourself. Especially if you specialize in a specific practice area and stay consistent with posting.
Read the blog post, STRATEGIC REFERRAL MARKETING FOR LAWYERS, to learn how to leverage social media as a lead generation tool. Our blog post, COMPLETE GUIDE TO DIGITAL MARKETING FOR LAWYERS, discusses choosing the right platform for your business.
Technology can be a vital tool in the success of your law firm. Cloud-native solutions make remote work and file management more accessible than ever. Artificial intelligence helps secure more leads and perfect your cases.
With smart contracts, take the basic work off your plate to focus on more significant projects. Lastly, social media allows you to market to a global audience in a way that was never accessible to previous generations.
By embracing digital transformation and legal tech, you can scale your business and outperform the competition. Research legal technology providers and decide which is suitable for your law firm.
Depending on where you are t in the process of digitizing your law firm, you may have different goals. It can be as simple as using more social networks or adopting an AI-powered tool. As always, please reach out with any questions.