How Technology Is Disrupting and Reshaping the Legal Industry
When it comes to the legal profession, the intersection of the job and technology is much like all other professions. The adaptation to technology has been slow, almost as slow as the law itself is, but none the less, advances have been made in recent times.
The legal industry has undergone many technological advances that have made the jobs of lawyers of all shapes and sizes far easier and more streamlined.
Without further ado, let’s dive into learning about the technological advancements that are shaping the legal industry today!
How Technology Is Changing the Legal Industry
There are a few different types of technological advances that have allowed lawyers to streamline their work.
The advances have allowed practices like this law firm to become the best in personal injury law.
The first involves the usage of technology to conduct research on legal issues.
Technology Allows Lawyers to Make Decisions With Confidence
The first way the legal industry has been shaken up is with the increasing usage and proliferation of legal databases.
Companies such as Thompson Reuters and Lexis are prominent in the legal field and are known for their power too.
These companies provide tools such as Westlaw and Lexis Advance. These tools essentially open up the entire world of legal knowledge in a single search bar. Attorneys can use this technology to research relevant case law on a topic in mere minutes. This allows them to research statutes and cases related to those statutes.
Essentially, these tools make it possible for a lawyer to now do in mere minutes in what used to take hours. What’s more, the accuracy as to which a lawyer can predict a specific outcome in a case is enhanced in knowing they have looked at all the relevant legal matter.
The same companies are also making strides in trying to help lawyers handle things before they ever see a courtroom. Did you know that over 95% of legal cases are settled or dismissed before trial?
Companies such as Lexis now have technological tools called settlement analyzers. These tools help an attorney figure out what a potential case could be worth.
This is accomplished by compiling a database of settlements from all across the country.
These settlements are categorized based on the specific circumstances of the supposed injury.
So, say you had an injury dealing with a car accident. In that case, the tool would analyze cases similar to your own to determine a probable settlement amount.
This type of technology decreases litigation overall, which is a good thing. Courts in America are overwhelmed as it is, and every case that can reasonably be handled out of court is in the best interest of all parties involved.
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The legal industry has undertaken various technological advances and isn’t likely to slow down anytime soon. If you enjoyed this piece, you’ll be sure to enjoy the rest of our blog.
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