With so much written about legal technology and innovation, including all the hype of artificial intelligence, machine learning, blockchain and the like, law firms can feel lost in a sea of infinite possibilities without a clear captain at the helm. In fact, despite all the innovation talk, only a third of law firms have tasked someone specifically with the job of innovation.
This is among some interesting findings from Aderant’s 2018 Business of Law and Technology survey of 138 business and legal professionals at law firms around the world.
Not surprisingly, larger law firms with potentially more resources are leading the way with innovations. While roughly 30% of firms have a dedicated person for innovation, large firms of 500+ lawyers were more than 2 times as likely to have someone dedicated to the task of innovation, compared to any other category of smaller firms.