From AI-powered doc review to smart contract signing software; which law firms are the most technologically advanced?
The legal sector’s appetite for all things tech shows little signs of waining. From global outfits to regional players, law firms continue to seek out the latest innovative solutions in a bid to boost efficiency and gain a competitive edge over their market rivals.
In an attempt to separate the tech buff from the marketing fluff, we asked over 2,000 rookies from nearly 100 of the country’s leading corporate law firms to rate their firm’s legal tech capabilities, as part of our annual Trainee and Junior Lawyer Survey.
Respondents offered us the inside track on their firm’s legal tech using a scale of one to ten, with one being described as ‘very basic’ and the top score of ten defined as ‘extremely advanced’.
We’ve tallied up the scores and below is the shortlist, listed alphabetically, for the firms that scored A*s for tech:
As part of this year’s survey, we received hundreds of anonymous comments from juniors who told us about their firm’s tech set-up — or lack of it.
Here are a select few comments from some of the firms listed above.
How advanced is your firms legal tech?
“We are proactive in adopting new technologies (for example, Workshare Transact, AI software for due diligence, and for e-signings) and support each other in learning how to use these.”
“There are many new products available including AI tools to help with legal due diligence which has been very useful for trainees.”
“As a trainee I regularly use contract companion software/online transaction management software and there is a push for checklists and trackers to be in live-time across teams/countries.”
“We have excellent legal tech. We have developed a number of different software over the last few years which are really efficient for carrying out tasks, for example, specially created questionnaires that once completed populate a draft based on the answers you have given.”
“They are really committed to being at the forefront when it comes to legal tech and it shows within the firm with the resources we have available. You are also really encouraged to come forward with any ideas you have to improve the way we work.”
The winning law firm in this category will be announced at The Legal Cheek Awards 2021, sponsored by BARBRI, on Thursday 25 March 2021.