The American Association of Law Libraries is seeking nominations for the 2024 Product of the year award. Both members and vendors can submit nominations.

This award honors new commercial information products that enhance or improve existing law library services or procedures or innovative products which improve access to legal information, the legal research process, or procedures for technical processing of library materials.

A “new” product is defined as one which has been in the library-related marketplace for two years or less. New products may include, but are not limited to, computer hardware and/or software, educational or bibliographic material, or other products or devices that aid or improve library workflow, research, or intellectual access. Products that have been reintroduced in a new format or with substantial changes are eligible.

The world before and after Generative AI If you are scratching your head and trying to Continue Reading Nominate Your Favorite Products for AALL’s Product of the Year Award

I have lived through legal technology revolutions before. The conversion of legal research from print to online moved though law firms like slow rolling train.  Lexis, the first commercial online  legal research product launched in 1970. Many firms did not fully embrace online research and abandon print until the pandemic drove the profession to remote work, nearly 50 years later. Analytics in legal research provided dramatic new insights into the behavior of judges, courts, attorneys and clients. It took less than ten years following the launch of Lex Machina in 2013 for legal analytics to move from esoteric to essential. The promise  of, if not the practice  with  Generative AI swept like a wildfire through the legal information market. When ChatGPT launched it took only five days to reach a million users and by January 2023 (2 months later) it had a 100 million users. Enter the “hype cycle.”

While OpenAi dominated the commercial market, Casetext, which had early access to GTP 4 dominated legal industry news headlines in 2023. Read the full post at Legal Tech HubContinue Reading Standing on the threshold of change: 2023 in review (A somewhat irreverent review of the AI hysteria That Swept Through the Legal Industry)

As the 2024 budget planning season ramps up, we all look to both internal and external intelligence to support renewal, cancellation and acquisition decisions.

In August many of my readers participated in the annual Start/Stop survey which was open during the month of August 2023. I partnered with Harbor to conduct the survey and present the results On Thursday, September 14, 2023, at the third annual Legal Information + Knowledge Services Conference (LINKS)— a full day of virtual thought leadership conference.

As in the past, this survey was intended to  gather feedback on both products and projects which readers started or stopped during the past year or plan to start or stop in the near future. For this years survey I added new questions related to the emergence of generative AI. Thirty-tree organizations participated in the survey (93% were law firms)

Some overall trends – Generative AI trending up. Analytics Market Shaking out.

Generative AI although legal publishers have been embedding and utilizing AI in their products for decades, the emergence of large language models (LLMs) has captured the market in a rather feverish way. There are firms out on the bleeding edge, but most are  holding back and struggling to create an AI policy and select from the ever expanding galaxy of products. Vendors are plunging ahead with AI offerings.

The most dramatic “shape shifting” market event was Thomson Reuters acquisition of Casetext, less than a year after the launch of WESTLAW Precision. The move was clearly designed to catapult TR  over competitors, who are developing  muti-modallarge language models  based AI products internally.Continue Reading The 2023 Start/Stop Survey: CoCounsel Best New Product, Analytics Segment Shakeout.

Legal Tech Mergers continue despite the uncertain economy. The recent acquisitions of Fastcase and Casetext inspired me to “take the temperature” of legal information marketplace. Thomson Reuters acquisition of Casetext for the breathtaking $650M was completed on August 17, 2023

The Survey I gave information professionals the opportunity to provide feedback on legal information mergers

Thomson Reuters’  deal to purchase  Casetext has driven the legal tech hype cycle to a fever pitch. Don’t get me wrong. I am a big fan of Casetext. I have been an admirer for over a decade. More than once, I have watched them not just beat the market, but redirect the market and invent whole new categories of legal research products. I have spent a lot of time over the past few years musing about innovation,  new product categories and market advantage.

When Casetext created the “brief analysis” tool CARA, it was three years before even one of the largest legal information companies launched a brief analyzer and it was four years before all three,; Thomson Reuters, LexisNexis and Bloomberg Law, had a brief analyzer on the market.

Note: vLex (Fastcase) launched the Vincent “brief checker” in the international market in 2018., two years after the launch of CARA. The above graphic was focused on the U. S. market.

Similarly, with Compose, Casetext introduced “parallel search” and a new category of concept searching was born. Or as Casetext co-founder Pablo Arredondo likes to exclaim “parallel search freed lawyers from the prison of the keyword.” This time The market responded in less than two years. LexisNexis launched “Fact and issue Finder” which leveraged extractive AI technology built on a highly tailored version of Google’s BERT to present insights to researchers.   Westlaw responded with Westlaw Precision built with a large editorial team to help with machine learning. The response time in the market is growing shorter.

Industry Insiders’ Perspectives I have spoken to several legal tech industry insiders and the consensus seems to be that within 6  to 12 months, Thomson Reuters competitors Lexis, Bloomberg Law, and vLex (formerly Fastcase)  are likely to have developed capabilities which can compete with CoCounsel. No one is starting from scratch. According to Ed Walters, Chief Strategy Officer at vLex, “we already have global AI products in the labs. We don’t release vaporware, but these products are coming no matter who owns Casetext.”Continue Reading Thomson Reuters $650M Bet on Casetext CoCounsel. Did They Buy Market Dominance or Just Time?

Bloomberg Law has announced the launch of Bloomberg Law Contract Solutions,  a new AI enabled contract workflow for In-House Counsel. The product is designed to help lawyers streamline drafting and negotiation with tools for profiling, searching and extracting clauses.  The product was designed in consultation with corporate legal teams.

 Live Virtual Event Bloomberg Law Contract Solutions will be introduced at a live virtual event on Thursday, May 11 at 1:00 p.m. ET, accessible at http://onb-law.com/xYZk50OfKjg.

Bloomberg Law Contract Solutions Features:

  • A securecentralized repository, including a database of automatically extracted clauses to deliver an organized single source of truth that can be filtered, sorted, and searched across – with little to no data entry.
  • Seamless integration with Microsoft Word, allowing users to access their contract repository and clause library directly from their document, providing a fast and easy starting point for drafting and revising contracts.
  • Advanced analysis tools, accelerating the review of draft agreements and allow users to efficiently identify and incorporate preferred language to ensure favorable terms.
  • AI-powered extraction of key contractual terms, providing greater visibility into final agreements to help identify and flag potential risks and obligations.

Bloomberg Law has previously leveraged AI and machine learning in a variety of workflow solutions including Points of Law  for litigation research and its transactional intelligence tool Draft Analyzer which provides benchmarking and analysis of deal documents.. Bloomberg Law Contract Solutions builds on this pioneering legacy, leveraging proprietary semantic search and natural language processing (NLP) technology to deliver advanced search engine and contract analysis features.



Continue Reading Bloomberg Law Contract Solutions Offers AI Enabled Drafting for In House Counsel -Launch Even May 11th

ALM, the “grand-daddy” of legal reporting and intelligence has launched state court coverage in Law.com Radar. Law.com Radar delivers a clean customizable stream of breaking legal news and competitive insights.

Today’s release includes more than 100 courts in California, New York, New Jersey, Florida, Illinois, Pennsylvania, Massachusetts, Texas and Maryland. Additional state courts will be introduced over the coming weeks and months, providing Law.com Radar users with new litigation alerts from key jurisdictions across the U.S. Most important of all the news comes with a link tot he full complaint which can be retrieved in” “one click.”

The Radar product provides litigation surveillance in commercially important state courts which are more challenging to monitor than federal courts, since there is no single reporting system for state courts. Radar covers courts that require the manual collection of documents. The Radar alerts include AI generated summaries which speed the accuracy and timeliness of delivery.

The  latest release supplements Law.com Radar’s existing coverage of federal district courts and Delaware’s Court of Chancery as well as its publication of corporate deal updates. Last July ALM released Law.com Rader Trend Detection  capabilities. 

New Alerting Features include daily case reports by jurisdiction. These new litigation  alerts that can be configured around courts, practice areas, topics, industry segments, law firms, parties or free text searches. And contain a link to the full complaint!

Continue Reading ALM Launches New Law.com Radar State Caselaw Surveillance Features