January 2024

Today LexisNexis Legal & Professional, released results from a survey of senior leadership at top U.S. law firms and legal professionals at Fortune 1000 companies. The survey   2024 Investing in Legal Innovation Survey: The Rise of GenAI at Top Firms & Corporations  explores  the business impact of generative AI technology on the legal industry.

I can’t recall any prior technology that has simultaneously trigged both of breathless enthusiasm and panicked resistance . While the technology shows game changing promise, there are significant ethical, client relations, security and intellectual property concerns which still need to be addressed. The C-Suite survey charts the issues of concern where are impeding adoption of GenAI.

Rapid Uptake and Generative AI investmentsContinue Reading LexisNexis Report: What Every C Suite Leader Needs to Know about Legal AI

Courtroom Insight has announced the  launch of  a comprehensive Lawyer Directory. Courtroom Insight has been aggregating data on professionals (lawyers, arbitrators, judges and experts) as well as a suite of partnership alliances. According to the press release, “this unique, specialized offering expands on Courtroom Insight’s existing model for delivering legal professional insights by aggregating private…

Lawyers always want to be at least one insight ahead of their clients. Law firm librarians, marketing and knowledge professionals have been tackling the challenges of business intelligence with a continuously evolving marketplace of tools for aggregation and analytics. It was only a matter of time before someone designed a news and insights platform that…

 LexisNexis® Legal & Professional  Lexis+ AI is a  a generative AI solution driven by LexisNexis’ proprietary search engine and authoritative content. Lexis+ AI   delivers results based on the LexisNexis’ proprietary content which assures that results include “verifiable, citable authority. This follows the 2023 launch of  Lexis+ AI in the United States.

Lexis+ AI technology offers conversational search, insightful summarisation, intelligent legal drafting capabilities and document upload capabilities, all supported by state-of-the-art encryption and privacy technology to keep sensitive data secure.

Conversational search simplifies the complex and time-consuming legal research journey, providing a search experience for diverse legal questions with citations, facilitating lawyers’ ability to complete research effectively and efficiently.

Enhanced summarization provides a custom summary of legal documents to speed up and guide insightful analysis.Continue Reading LexisNexis Launches Commercial Preview of Lexis+ AI in U.K. and Canada

Today, Thomson Reuters, and the Center on Ethics and the Legal Profession at Georgetown Law has released the 2024 Report on the State of the US Legal Market.

The report opens with the sobering tale of the collapse of Pan American Airways because leaders stuck with an old strategy and failed to pivot as more nimble competitors emerged and an oil embargo changed the economics of international travel. We have seen this executive paralysis and  failure to  recognize the emergence of a market disruptor repeatedl: Kodak, Blockbuster, Swiss watchmakers … the theme documented in Clayton Christensen’s book  “The Innovator’s Dilemma.”  

The report continues the warning by noting how several fundamental shifts in the market threaten to upend traditional law firm business models, most notably the emergence of Generative AI. Law firms continue to inflate the rates balloon and clients wield market power in demanding higher discounts to deflate the increases.

Shifting market factors include:Continue Reading Thomson Reuters 2024 Report on the State of the Legal Market — Cloudy With a Chance of Disruption?