Conversely, the lawyer without access to these technologies will be at a significant competitive disadvantage.
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For example, a smart contract for travel insurance is presently being used by axa insurance company. Use cases finally are starting to emerge and one cannot help but look to the legal industry as one of the next adopters. Legal operations departments now have the technology to collect large volumes of data, allowing them to speak quantitatively about their department and measure productivity through lenses such as total legal cost, cost by matter or practice area, internal vs.
Advanced technologies built into the platform.
And proactively preparing for future surges of litigation,. It has to be coupled with, and in some cases preceded by, the more important elements of process and people. Among our profession's digital age challenges are the need to sensibly determine when we must either (1) force digital age technology to yield to such. Reporting, and expert analysis of legal technology with a focus on what legal departments, law firms, and tech companies need to know.
