Making the shift – The future of legal insights

12 Jul 2019

The AI Revolution is already here. It’s happening in all sectors; in law, finance, regulation, insurance, property, education, medicine, retail, hospitality and more. Our professional and personal lives will not be immune from the challenges and opportunities which AI has already brought and will continue to bring at a rapid rate. Change is inevitable and adjusting to it will be the constant. If re-imagining and re-inventing how we flex to this AI world is not on our agenda then business and life, as we know it, is going to get challenging.

You don’t have to look far to read about the thousands of LegalTech, LawTech, FinTech, RegTech, InsureTech, PropTech, EdTech, MedTech and XYZtech start-ups that have emerged around the world, and they promise to be better and faster than human professionals and their firms as we currently know them.

Make no mistake, we’re living through a technological renaissance. We’re on the cusp of a technological transformation in multiple professional services industries. Our way of working and delivering services and products to existing and new clients is changing faster than we anticipate due to the burgeoning Age of AI fostering widespread automation of human tasks and roles. AI is already outperforming some professionals on various tasks and our clients are aware of this. Accordingly, client and prospective client expectations and behaviours are shifting. The shift has already begun. We’re experiencing it here at Juta, and no doubt you are feeling it too.

We believe it is critical in this Digital Age and nascent AI Age that businesses constantly innovate and adapt to emerging trends. For example, our client expectations that human professionals ought to be augmented with advanced technology to deliver enhanced performance, productivity, speed, accuracy and insights, require us at Juta to deliver improved service expertise and product quality.

The AI revolution is happening in legal research, information and learning too. Albeit we’re perceived as a traditional legal publishing and research company we recognise that to serve and help our existing and new clients succeed now and, in the future, requires an immediate paradigm shift. No matter how daunting or challenging the prospect and reality of embracing AI was, and is, we’re already on the journey.

We’re making ‘the shift’.

It used to be said that “Content is King”. Now the cry is “Data is King”. Actually, we believe that “Insights are King” and is the key to surviving and thriving. Chrissie Lightfoot, a renowned global legal futurist and CEO of Robot Lawyer Lisa delivered a powerful and thought-provoking talk earlier this year in Cape Town as she predicted “Expertise will be King”; meaning the combined might of human and machine expertise working together. We get it… and we are on the journey of delivering it to our clients.

For attorneys and advocates to remain “trusted advisors” in the AI Age , digitised content must deliver trusted insights which in turn enhance human expertise and fosters trust and loyalty from attorney clients.

No doubt you may also be (perceived as) a ‘traditional’ law firm, attorney, advocate or corporate. If so, are you ready for this new world? Are you prepared for the direct and latent competition that you might not see yet? Are you equipped with the tools and skills, technical and human, that will help differentiate you and your business in the eyes of your clients and their clients? Are you wondering how to make your first step and how to truly adapt?

(This article is provided for informational purposes only and not for the purpose of providing legal advice. For more information on the topic, please contact the author/s or the relevant provider.)
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