The U.K. is ‘Geeking Out’ Over Legal Tech
Legal tech growth continues to accelerate in the U.K., as evidenced by not just the number of folks attending this year’s LegalGeek event in London, but also by the latest tally of investor dollars being injected into European legal tech startups. The figure has more than doubled over the past 12 months to $78 million (or £$61 million).
Fueling this growth is an apparent surge of engagement from within the U.K. legal community itself who are generating demand and embracing products aimed at helping lawyers do their jobs more efficiently and cost-effectively. Indeed, Jimmy Vestbirk’s LegalGeek conference is quickly becoming one of the industry’s most talked about events. Here are a few buzz-worthy moments that capture this year’s London event perfectly:
Richard Parnham summarized the event kickoff pretty well, tweeting this seven-second video clip:
Key themes of this year’s event included: client centricity; user/client experience; implementing tailored solutions; and collaboration (both cross-sector and between firms), Chrissie Wolf, founder of the U.K.’s Law and Broader, shared on LinkedIn.
Everyone is (still) talking about and wants to know about AI. The conversation around the implications of artificial intelligence is shifting from concerns about jobs being taken away to the irreplaceable value human lawyers bring to the profession. Don’t want to be replaced by a robot? Don’t act like one.
Dan Broderick, CEO and co-founder of BlackBoiler, shared thought-provoking insights from Simon Davis of the Law Society of England and Wales:
Lawyers need to ask, “What part of the service does not need a deep understanding of the client? These are the services that will be replaced by robots and should be replaced by robots. …How to listen, how to get the client from A to B, how to devise strategic solutions, how to get into the sole of a client — a robot can’t do these things.”
Overall, the buzz around new advancements appear palpable, as Derek Southall, CEO of Hyperscale Group Limited and founding director of the Intuity Alliance, expressed his delight on LinkedIn around the conversations happening at LegalGeek:
Kira Systems’ Noah Waisberg got physical on stage, bringing LegalGeek London to a “smashing” finish.
“Would you rather extract your organization's most important insights from your contracts and documents with a noodle or an axe? Noah Waisberg demonstrates the importance of choosing the right tool for the job. Organizations need to delve deeper into their contractual data to glean valuable business insights that resides within...food for thought!” posted Vinay Nair, CMO of Kira Systems.
And finally, Nicola Shaver from Paul Hastings, asked Legal Tech Growth’s Ben Chiriboga about that one thing we all want to know.
Ben, Ben! What is it, what’s the one thing that can truly effect change? He told us, and I will tell you, #lawtwitter - it’s stories. The power of storytelling to release dopamine and oxytocin and generate emotion ... and cause change. Great talk @benchiriboga13 #legalgeek pic.twitter.com/OnApf0TLCg— Nicola Shaver (@Nicola_Shaver) October 16, 2019
We couldn’t agree more. Until next year!