1. Law Firm Financial Index hits New Low,

Thomson Reuters reports a strong drop in demand for legal services amid ongoing economic uncertainty.  The Thomson Reuters Law Firm Financial Index plunged to an all-time low score at the close of 2022.

2. Deputy GCs Struggling to Become Legal Chiefs

A recent report shows how deputy GCs are not seeing the opportunities to become legal chiefs. Ninety-four percent of deputy general counsel say their current employer does not provide them with the opportunity to develop the skills they need to be elevated to the GC role, according to a new survey report from Axiom.

3. Legal Department Budget Cuts Are Universal

Roughly 98% of legal departments have seen their budgets cut as the result of the economic uncertainty, according to a recent survey.  A significant reason to start investing in tools/tech to help you be more efficient.

4. Experimentation Period Over: Law Firms Want Practical Tech That Solves Real Problems

With threats of an economic downturn looming, ROI and UX/UI are now two of the hottest buzzwords when it comes to law firm technology purchasing.

5. Beware of “Technological Myopia,” Richard Susskind Says About GPT-3.5

The swiftly changing technological landscape is poised to disrupt legal services and the business of law—but legal tech futurist and author of the Third Edition of “Tomorrow’s Lawyers” Richard Susskind noted that there are skills attorneys can brush up on today to prepare for what’s coming.  

6. Big Tech Is Battling for AI Supremacy. What Does That Mean for Legal?

Microsoft, Google and, now, Meta are all in what’s been called an “AI arms race” to come out ahead in the growing generative AI movement.

7. Why We Shouldn’t Talk About Regulating AI 

In an article for Legaltech News, partner Ted Claypoole discusses the issues that worry our society about algorithms and the importance of managing the specific actions creating risk.

8. Women of Legal Tech: ‘More Emphasis Should Be Placed on the Importance of Relationships

Jamie Weissglass, VP Client Solutions & Business Development at Consilio, discusses overcoming stereotypes as a woman in sales, why you might end up happier and more successful if your original plan doesn’t work out, and the importance of alternative fee arrangements and technology in law firm efficiency.

9. Legal Tech Market Gaps—Missing Features & Solutions

While the missing-feature fallacy has long been employed as an excuse for not investing in legal tech, there are, in fact, a number of features that are missing, and entire categories of tools that seem inexplicably immature, if not downright absent.

10. Women Who Recently Broke the Legal Tech Glass Ceiling

From legal tech coders in war-torn Ukraine to judges who have jumped through hoops to get where they are, women have made remarkable achievements in legal tech.

11. Brightflag Launches New Legal Invoice Validation Tool

The company said its AI-powered product for in-house teams instantly determines whether the information submitted by outside vendors is correct. One multinational tech company that uses the legal operations platform Brightflag receives roughly 1,000 invoices from outside law firms every month.

12. Alexandre Chéronnet,  Launches Altata

Alexandre Chéronnet, cofounder of the legaltech Predictrice, launches Altata, a law firm dedicated to tech companiesa law firm dedicated to tech companies.

13. LawTech Africa: Lawyers Advised To Use Technology To Manage Case Backlog.

Former judge David Wangutusi has advised young lawyers to come up with innovations that will help to speed up cases in court in order to de-congest prisons.

14. Belgian LegalTech Firm Raises $6.5m

Belgian legal tech Henchman has picked up another €6.5 million for its assisted contract drafting platform and now has a GPT-3 integration to further accelerate contract work.

15. Robin AI scoops $10.5 million for its “lawyer-in-the-loop” generative AI model.

Robin AI’s lawyer-in-the-loop model is accelerating preparation of legal contracts on behalf of SMEs.

16. Budget Challenges For Legal Professionals

IPRO Survey reveals budget constraints are expected to be the biggest challenge for legal professionals in 2023

17. SpotDraft Raises $26M

SpotDraft shows that contract lifecycle management remains profitable.

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