The hot topic this year was how new technologies, like ChatGPT, are poised to disrupt the way legal work is done. Some lawyers are scrambling to adapt while others are already using this latest iteration of AI to automate tasks such as drafting legal documents and conducting legal research. Chatbots are also being used to provide legal advice and customer service, but the full impact and ethical concerns around these technologies are still unknown. One thing is clear, they will have a significant impact on the legal profession.
The shift in how legal services are divided in the industry, driven at first by the COVID-19 pandemic, continues to shape how corporate legal departments, law firms, and alternative legal service providers (ALSPs) all play a role.
In addition to the rise of new technologies, the legal industry is also facing a number of other challenges. The increasing complexity of the law and the growing volume of data are making it difficult for lawyers to keep up.
ALSPs continue to be well-positioned to meet the growing demand for legal services. They have the technology and expertise to handle high-volume work, and they are often more cost-effective than traditional law firms. But as new legal technologies and AI-driven solutions continue to be developed, corporate legal teams and law firms will be able to do more of this work in-house.
The convergence of legal, compliance, and security challenges is creating new opportunities for collaboration between the various stakeholders in the legal industry. As organizations face a multitude of regulatory and compliance challenges, they will need to rely on the expertise of legal professionals from all areas of practice.
This blurring of the lines between different practices means that legal professionals will need to be more versatile and adaptable, with the ability to handle a variety of tasks, from data analysis to document production to litigation support.
With all of this swirling around the halls of the Midtown Hilton, Hanzo was right there in the middle of things, giving demos of our newly announced Dynamic Mapping for Microsoft Teams and AI-Driven Spotlight+ search capabilities. We also reconnected with old and new friends alike in the legal tech community by sponsoring the ACEDS cocktail hour and co-hosting a dinner with partner, IBM.
Let's take a look at the week in review!
All and all, it was an interesting and productive week, and we’re looking forward to continued innovation throughout 2023 and beyond.
Hanzo helps global enterprises manage and reduce legal risk wherever work gets done. Our vision is to provide enterprises with a single source of truth for their complex communications data. Hanzo solutions capture investigations, litigation, and compliance data from wherever employees collaborate — efficiently tackling the massive volume and unique complexities that emerging data sources present. Hanzo's software empowers defensible preservation, targeted collection, and efficient review of dynamic content. Hanzo is SOC 2® Type 2 certified, demonstrating its commitment to data security and serving large corporations worldwide. Learn more at hanzo.co and follow updates on Twitter: @gethanzo or on LinkedIn.