The legal technology sector has promised the world but not always lived up to expectations, say in-house counsel.
According to a report published by LexisNexis this month, ‘Legal Technology: Looking past the hype’, one in five general counsel were able to point to a piece of recently installed technology that had low or zero usage (see 'Legal technology: looking past the hype' in this week's issue of NLJ).
‘Inevitably, some buyers have backed losing technologies and/or have not seen the returns expected,’ the report says.
‘Certainly, tools have been implemented that have not been a good fit and uptake of installed technologies has often been less than expected. Therefore, rather than a strong acceleration, there is a sense of inertia. Driven by a combination of uncertainty, unmet expectations and even early onset tech “fatigue”, inhouse counsel are increasingly waiting for the hype curve to pass.’
The report, based on a survey of 130 general counsel from some of the largest legal teams in the UK, including 20 in-depth interviews, sets out examples and practical recommendations. It uncovers bewilderment about the array of technologies on offer. Some 60% of respondents lacked understanding about the most suitable technology for their technology.
Many rely on their law firms for enlightenment. Threequarters expect law firms to use technology and pass on the benefits, and 45% expect their law firm to advise them on which technology to use.
Meanwhile, the buzz around artificial intelligence (AI) has been driving a wave of innovation in legal services. However, discussions of AI ‘tend to be hyperbolic and focus on concepts like “robot lawyers”’ which fail to match up to what’s available, says Jeff Pfeifer, vice president of product management for LexisNexis.
