Another piece in the legal disruption discussion. The author claims that there is no technology that will come and disrupt everything (TRUE) but companie that do not act on changes will disappear (TRUE). So re-engineer your business while you can (TRUE).
The conclusion for law firms: ”The moral of the story is not to go out and find the next big thing before anyone else does, but to re-engineer your business now to accommodate what you already know is coming. We know what the next great innovations in legal service delivery are, even if we don’t know exactly how they are going to work or what they are going to look like. Now is the time to build a legal service delivery engine that can accommodate project management, automation, artificial intelligence, and extreme transparency to clients.”
”The sad truth of the Blockbuster tale is that despite their market dominance, and their vast resources, they had no way to adopt streaming video without completely undermining the rest of their business. Sometimes I wonder how many law firms are in the same position now.
What do you think about your business?