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I've consulted for companies trying to get a good go to market plan for the legal sector. The sector is bonkers and the incentives are terrible. Most tech adop
by ABCLAW 8y ago
I've consulted for companies trying to get a good go to market plan for the legal sector.
The sector is bonkers and the incentives are terrible. Most tech adoption is in the low-margin high-volume sectors, where 'good enough' products are dominant. Superior execution in this segment could lead to big wins. In the low-volume high-margin sector, many firms have proprietary workflows/inhouse staff dealing with their KM needs.
That said, there's a few cute 'novel' approaches in new generation TAR and AI assisted [Insert mass document type sorting/classifying/digesting]. Beyond that I think the big developments aren't going to be in the area of 'can technology do something fundamentally new'. They'll be enabling tools to allow new business models. Think 'data-science consulting, reporting and expert witness testimony for legal discovery databases'.
I also think that overall, professional development tools are underdeveloped, but young lawyers are undercapitalized and the core value bottleneck in low-volume work is the client intake pipeline, not getting good people to do the work.
Edit: Added a missing word.