A new survey conducted by Ari Kaplan Advisors, ahead of the launch of the Business of Law Institute at the New York Law School, has uncovered a significant knowledge gap surrounding legal technology within the legal profession. According to the survey, U.S. lawyers are primarily focused on cybersecurity and eDiscovery issues, yet remain largely uninformed about the more strategic aspects of legal tech, such as AI and automation.
A concerning trend emerging from the survey shows that many lawyers, especially older generations, view legal technology as something predominantly for younger lawyers. One respondent noted that “the people who can unlock the value proposition of legal tech are those coming out of law school or new lawyers who understand the technology.” This generational divide raises concerns, as law firms can’t afford to wait for younger associates to reach leadership roles in order to shape future tech strategies.
Many law firms are also concentrating on cybersecurity as a priority, with 64% of survey participants suggesting that coursework or certification on cybersecurity would enhance career prospects. However, experts argue that the most effective strategy for reducing cyber risks lies in simple actions, like maintaining good email hygiene, rather than investing in extensive training.
Moreover, lawyers seem overly focused on eDiscovery technologies, which, although valuable, have been in use for many years. The survey indicates a somewhat outdated approach in legal tech thinking, with lawyers overlooking more impactful technologies, such as AI, that could transform legal practice.
Interestingly, AI, including predictive coding and contract analytics, has garnered some attention, with 29% of respondents expressing interest in further education on the subject. This marks a step forward, as AI-related discussions in the legal field were virtually nonexistent just a few years ago. Nevertheless, much of this interest seems tied to improving eDiscovery processes rather than exploring broader applications across different practice areas, like mergers and acquisitions due diligence.
According to Ari Kaplan, the skewed focus of the survey results reflects a lack of familiarity with the practical applications of AI among many legal professionals, which contrasts with the more well-known issues of cybersecurity and eDiscovery. While these topics may feel more familiar and safe for senior partners, they do not offer a significant competitive advantage for law firms. Instead, areas like AI-driven automation of legal processes could yield more strategic benefits, increasing productivity, efficiency, and providing new insights for clients.
The challenge for law firms is clear: Without a clear understanding of the broader applications of legal tech, firms risk missing out on strategic opportunities that could significantly enhance their market position. The survey results suggest that law firm leaders need to act swiftly to close these knowledge gaps and future-proof their businesses.
In response to these challenges, the Business of Law Institute at the New York Law School is poised to play a pivotal role in advancing legal tech education and fostering strategic thinking within the profession. The Institute’s launch promises to address these gaps, helping lawyers stay ahead in an increasingly tech-driven legal landscape.
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