Recap: #LegalTechChat Twitter Chat with Lex Mundi's Gordon Vala-Webb
June 19, 2019
Following a successful Twitter chat with NetDocuments and Artificial Lawyer last month, Diligen's fifth #LegalTechChat Twitter Chat focused on Legal Innovation: "Is ‘legal innovation’ an oxymoron? Making the case for change". Our host of the chat, Senior Advisor for Lex Mundi Gordon Vala-Webb ( @BuildSmarterOrg), led the discussion with legal professionals across the world.
Here's a snippet from our favourite responses. If you're interested in joining the next #LegalTechChat, follow us at @diligensoftware for updates.
Q1: Is it easier to innovate within a law firm network environment than if you are a firm on your own?
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@LexMundi is a “high-touch” network with more of the best #lawyers (21,000+), in 100 countries, with 160 members. It is a “many flowers bloom” approach: smart people, in multiple markets, innovating & - crucially . . . #LegalTechChat
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I think the most important thing is having a mindset that values innovation and is open to change. I suppose the likelihood of finding thought leaders that can inspire along those lines is more likely in a larger group - but it is not a prerequisite.
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I think answer depends on how closely firms in network work together and what the problem is they are jointly trying to solve. Then it comes down to resources + cooperation. And scale + multiple perspectives as pros vs. potentially high coordination cost as con. #LegalTechChat
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Q2: Everyone talks about being innovative – how can you tell if you really are?
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First, all organizations are already at least a bit innovative (if only incrementally) #LegalTechChat
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And there are lots and lots of “#innovation models” you could use to tell if you are (Google search gives 0.5 million results – 94,000 of which are pdfs https://google.com/search?q=%22innovation+model%22&rlz=1C1CHBF_enUS761CA762&oq=%22innovation+model%22&aqs=chrome..69i57j0l5.3656j0j7&sourceid=chrome&ie=UTF-8…#LegalTechChat
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Innovation is relative to your market. Most things have been done by someone else somewhere. Doing something that most (80%?) of those around you haven't done is #innovative
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You’ve had to iterate or pivot bc something didn’t quite work out. Aka: you’ve made a “mistake”. Without mistakes there can be no innovation.
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Q3: Are the biggest innovation barriers inside or outside of organizations?
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Q3: Are the biggest innovation barriers inside or outside of organizations? #LegalTechChat
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The trick (1) is that there is a lot of “noise” and it can be hard to hear the “signal” (2) and, as Yogi Berra said, “It's tough to make predictions, especially about the future” #LegalTechChat
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The only barriers are inside. The outside world (clients, competitors, new science / tech etc.) is trying to tell your organization something if you listen to it. #LegalTechChat
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Agreed - the market will drive (or not) the change (absent the occasional brilliant, strategic, leader #legaltechchat
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Biggest barriers are inside especially fear of perceived failure. What will people think? We need to ask instead what will people learn? Let’s value learning more than fear.
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Inside, hands down. It is very difficult to change the direction of a car when you are a passenger.
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Q4: What is the rate of change going to be over the next 2 to 3 years? Do we need transformation or is steady improvement ok?
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We are about to hit an inflection point in the change curve; so, to be where the market will be, firms / departments need to do more. here are the signs I see: https://linkedin.com/pulse/slippery-curve-ahead-law-firms-gordon-vala-webb/…#LegalTechChat
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Exponential change rarely looks exponential in the present, but it's happening whether we realize it or not. #LegalTechChat
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I think rate of change moving forward will be same as what we've seen. I'd love transformation but expect steady improvement. Legal market moves only as fast as large client demand - and their bark > bite. Anecdote to date suggests most settle for incremental. #LegalTechChat
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@ronfriedmann the good news is that steady improvement can result in real transformation. Just not instantly. #LegalTechChat
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Revolution v evolution? They are the same thing. first Industrial revolution took about 60 years. Innovation is just not standing still. #LegalTechChat
— Crispin Passmore (@CrispinPassmore) June 13, 2019
Q5: Are there countries or regions where firms and legal departments are more innovative? Why the difference?
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As has been mentioned - I did a recent post “The Geography of Legal Innovation: firms, people, tech” using three data sets: @DanLinna’s Innovation Index; @EricJYChin’s work with @StanfordLaw w ‘s Codex TechIndex; & @LinkedIn job title search https://linkedin.com/pulse/geography-legal-innovation-firms-people-tech-gordon-vala-webb/…#LegalTechChat
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A5: Besides Singapore, I really couldn't say as I've focused most of my efforts in the US, UK, Canada and some out of India. Basically, English-speaking countries. As such, I look forward to the commentary from others. #LegalTechChat
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We need more data on this. I know @InnoJustice and others are doing great work outside of the UK & Australia. I would love to see more analysis on regional legal innovation #LegalTechChat
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Q6: Which firms are innovating? How? Tag them in your response.
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Example: @BurnessPaullLLP (@LexMundi member firm Scotland) using @nalytics for big data https://x.com/nalytics/status/1082215461230706688?s=20…#LegalTechChat
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We have a lot of firms that have been innovating by moving their documents (and thus workflows) to the cloud in recent months! Our most recent customer is a #LATAM firm, Aguilar Castillo Love; and @GrayReedLaw was just implemented recently!
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Our client roster, for starters. #LegalTechChat
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A great deal of the innovation I am familiar with comes from solos and small firms. #LegalTechChat
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@Thorntons_Law - use of data science in modelling outcomes and pricing in conjunction with @DataLabScotland perhaps? Or using @amiqus to remove lots of the pain of AML? I would also argue every #boring document automation and case man project is potent when adopted successfully
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