LawVision's AI Strategy for Law Firm Leaders Newsletter Volume 1 Issue 7

AI Strategy for Law Firm Leaders

September 28, 2023 | Volume 1, Issue 7 | 🕐 5 Minute Read

Welcome to LawVision's AI Strategy Newsletter, a key component of our AI Strategy Exchange program. This newsletter is crafted to be succinct and focused, highlighting what we believe to be the most essential readings on AI strategy. We then contextualize these ideas within the legal sphere, tailoring our insights specifically for law firm leaders.

🗨️ Please share your thoughts with us and feel free to share this content with others!

💡 Must Read

Reskilling in the Age of AI

Source: Harvard Business Review

LawVision's Take

You must start educating your lawyers now about AI and its connection to the practice. This Harvard Business Review article highlights five critical talent-related paradigm shifts applicable to law firm leaders in the AI era:

Prioritize reskilling as a strategic necessity to keep up with the evolving legal landscape.
Adopt a federated model, where all leaders and lawyers share responsibility for reskilling efforts within their teams.
Embrace reskilling as a change-management initiative, fostering a continuous learning culture and supporting lawyers in adapting to new roles.
Communicate the value and purpose of reskilling to motivate employees, providing the necessary resources and support.
Collaborate with other law firms, industry organizations, and educational institutions to enhance reskilling programs. These shifts are crucial for law firm leaders to navigate the changing demands of the AI era successfully.

👓 Deeper Read

Generative AI Exists Because of the Transformer

Source: Financial Times

LawVision's Take

It might be helpful for leaders in law firms to have a grasp of the basic concepts of generative AI to stay well-informed. The Financial Times has shared an insightful visual story, presenting generative AI in a picture-book format that’s both enlightening and enjoyable. If you have 15 minutes to spare, browsing through it could offer a clearer view of today’s generative AI environment.

🔔 Interesting News

With Innovation All the Rage, Seyfarth Leans on History of Lab Work

Source: ALM (log in required)

LawVision's Take

Seyfarth Shaw is intensifying its focus on innovation and technology to streamline legal processes and meet the growing demand for efficiency in the legal industry. The firm employs AI and automation for internal processes and develops tools like automated contract templates to benefit clients. Seyfarth’s innovation teams, SeyfarthLean and Seyfarth Labs, are working on projects such as real-time COVID-19 resource trackers and intake tools to aid the transition to electric vehicles. The firm stresses the importance of combining technology with a deep understanding of client needs to add significant value. The adoption of tech has led to concerns about job security, highlighting the need for open dialogue and effective change management.

For law firm leaders, this article underscores the imperative of embracing innovation to stay competitive and meet evolving client demands. It offers insights into balancing technology adoption with effective change management and emphasizes the enhanced value achieved by aligning technology with a deep understanding of client needs and human psychology. The article guides leveraging technology and innovation in legal service delivery while maintaining employee trust and morale.

🎓 Industry-Leading Learning

90-Day AI Strategy Immersion Program

for Management & Partners

Identify and address critical challenges arising from AI, your market position, and implications for the practice.

In the evolving landscape of the legal industry, the integration of artificial intelligence (AI) is no longer just an innovation. It’s a strategic necessity. With the myriad of benefits AI offers – from improved productivity to data-driven decision-making – law firms are presented with the opportunity to transform their practices.

The journey to AI adoption is intricate, demanding a clear strategy, an understanding of the technology, and a vision for its application.

This program is meticulously designed to guide law firms through a transformative journey. Leveraging our state-of-the-art legal AI platform, Callidus AI, the experience is immersive, delving deep into the world of AI, offering a macro and micro perspective tailored to the legal profession. Engage in hands-on sessions exploring real-world scenarios, fostering strategic thinking, and probing into practice use cases.

By the end of the 90-day program, your firm will be well equipped to embrace more advanced AI applications and strategic initiatives.

Receive Program Details including a FREE AI Strategy Execution Blueprint

Click Here