What does it mean to disrupt law? What part of the education or practice or bigger industry issue needs disruption? Would that be similar to talking about disrupting the "Big 4" in audit, or disrupting hedge funds, consulting, brokers or other professional services?
As an outsider, I'm trying to understand what parts of the industry and the profession are calling for a disruption which is in the interest law firms, lawyers and their clients.
If you really want to disrupt the legal profession, someone else needs to do the buying other than inhouse lawyers. They grew up in the traditional law firm system, they are accustomed to it and they respect it. They are loathe to change their buying habits. The last great disruption happened in the Great Financial Crisis of 2009, when the GCs were instructed by CEOs, CFOs and COOs to reduce legal spending NOW to a bare minimum. The change in buying behavior was immediately reflected by a change in selling behavior. Without those corresponding changes, disruption -- REAL disruption -- is unlikely to occur, AI or no.
Thanks for this! It reminds me of an interview I recently listened to on the podcast Tech on Reg. The host, Dara, was chatting with LexFusion co-founder Joe Borstein about...well, a lot of this. I recommend giving it a listen! https://provoke.fm/pick-up-the-pace-already-speeding-laws-adoption-of-innovative-tech/
What does it mean to disrupt law? What part of the education or practice or bigger industry issue needs disruption? Would that be similar to talking about disrupting the "Big 4" in audit, or disrupting hedge funds, consulting, brokers or other professional services?
As an outsider, I'm trying to understand what parts of the industry and the profession are calling for a disruption which is in the interest law firms, lawyers and their clients.
If you really want to disrupt the legal profession, someone else needs to do the buying other than inhouse lawyers. They grew up in the traditional law firm system, they are accustomed to it and they respect it. They are loathe to change their buying habits. The last great disruption happened in the Great Financial Crisis of 2009, when the GCs were instructed by CEOs, CFOs and COOs to reduce legal spending NOW to a bare minimum. The change in buying behavior was immediately reflected by a change in selling behavior. Without those corresponding changes, disruption -- REAL disruption -- is unlikely to occur, AI or no.