August - 2019CONSTRUCTIONTECHREVIEW.COM8INVESTING IN INNOVATION: WHY LAW FIRMS MUST STAY AHEAD OF THE CURVE ON TECHIN MYOPINIONBy Tony McKenna, Director of IT, Gowling WLGTechnology has long since passed being a `nice to have' but is a core foundation of any business operation, with the legal sector being no exception. The founder of Apple, Steve Jobs, said, "Innovation distinguishes between a leader and a follower." As solutions to longstanding problems increasingly transform how modern businesses operate, the fine line between leading and fol-lowing has the potential to widen in a legal sector riding a wave of innovation.Though no new phenomenon, legal tech is undoubtedly trending, putting the sector at an evolutionary crossroads as a result. As legal start-ups begin to bear fruit for a new generation of providers, the capabilities of `Lawtech' is shifting thinking within industry. Law firms can no longer rely solely on market reputation or length of service as the defining features of their offering. Artificial Intelligence (AI) technologies affording both efficiency and accuracy in an economy of scale, at a time of political uncertainty affecting UK markets, are altering the balance. Though the robots have not taken over quite yet, what is clear is that legal tech is here to stay.but what are the driving factors in this shift towards lawtech?Client expectations. To continue to be an attractive prospect, businesses of all types must evolve. Market forces are determining that firms be as dynamic and forward thinking as those they act for, where failure to do so puts them at risk as margins shorten and competition increases. For law firms acting for those market leaders defining technological change within their own industries, the bar Tony McKenna
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