The Winter 2018 edition of Legal Tech Link, our quarterly update on all things legal tech, is now available online.
In our top story, we speak to Alex Smith, Innovation Manager and Head of Innovation Hub at Reed Smith, about how law firms can take a product-development approach to legal innovation.
Based in London, Smith heads up a physical and virtual program that is generating ideas and rethinking how the firm can design is legal service around clients’ needs. Smith manages Reed Smith’s Innovation Hub, a unique space for co-creation with clients using service design and innovation techniques. Previously, Smith was Innovation & New Product Lead at LexisNexis®.
Legal Tech Link met up with Smith during the Legal Geek Conference in London, where he spoke of the importance of using blended solutions for each legal task.
At LexisNexis, Smith worked on new product development and platform innovations that were tied to customer needs, so they were always talking to customers. At Reed Smith, he describes a new kind of role, in which he was asked, “What does innovation mean?” Smith said he realized the firm needed to spend more time with our clients and make the innovation revolve around co-creation and understanding, rather than about tech.
Of course, translating that initiative into something that lawyers will adopt isn’t easy. It required Smith to feel his way around the firm to determine the right dynamic with key influencers and stakeholder management.
Download the Winter 2018 issue of Legal Tech Link.
Also in this issue:
Legal Tech in Practice
We look at Legal Tech in Practice with Kate Bally, director of Thomson Reuters Practical Law’s Labor & Employment Service. Bally describes how legal tech worked within a company’s supply chain, smoothing out and hastening the flow of goods, payments and services from one end of the chain to the other.
Indeed, legal tech innovations such as artificial intelligences, blockchain, automated contracts and other new developments are remaking how companies buy and sell their goods, contract with vendors and manage the distribution and flow of products.
As Bally explains, it’s an evolution that is re-imagining the traditional supply chain.
We also feature in this issue, a Start-up Snapshot, focusing on Nick Brestoff of Instraspexion
Brestoff, is founder and CEO of Intraspexion, a legal tech start-up that uses artificial intelligence to help mitigate or prevent litigation. As Brestoff describes, Intraspexion addresses the painful problem that bedevils corporate legal departments: the frequency and cost of litigation.
Intraspexion provides an early warning of specific types of possible litigation to in-house legal staff, allowing them to pre-emptively conduct an investigation and advise executives and hopefully stop the problem before it gets out of hand.
Using “Deep Learning” (DL), a form of artificial intelligence, to search and sort for legal risk, the Intraspexion system learns the patterns of specific types of lawsuits from hundreds or thousands of examples of each type of case.
Events, Academics and Readings
Also within the Winter 2018 issue of Legal Tech Link is a calendar of upcoming legal tech-related events, including links to online registration; a listing of key readings, including links to white papers and reports around legal tech subjects that have everyone talking; and a focus on recent academic developments around legal tech, including how legal innovation may be changing the future of law schools.