Top Five Legal Tech Developments for 2023

by | Jan 16, 2023

Technology continues to change the legal industry. At the same time, many law firms are at risk of falling behind. According to Law.com, the June 2022 Attorney Technology Satisfaction report found that around 60% of attorneys are not satisfied with their law firm’s use of legal technology. When implemented properly, tech can make legal practice more efficient and more effective.

At Rize Technologies, we are proud to be a leading provider of information technology (IT) services for law firms. Our team is committed to ensuring that lawyers and law firms have the knowledge, tools, and resources that they need to thrive in today’s hyper-competitive environment. In this article, you will find an overview of the top five legal tech developments for 2023.

 

1. Continued Adoption and Implementation of All Things Digital 

The legal industry is no stranger to the shift toward digitalization—and it is a trend that is set to continue in 2023. While the trend has been many years in the making, the COVID-19 pandemic results in many law firms and legal organizations accelerating their digital adoption to maintain operations and continue serving clients remotely. Further adoption and implementation of all things digital are expected to continue in 2023—with more and more legal processes and procedures becoming digitized, including document management and e-filing. The shift towards digitalization promises many benefits, including increased efficiency, cost savings, and improved accessibility for clients.

 

2. Automation of Administrative Work

Administrative work is essential. At the same time, it can bring enormous frustration. Indeed, Thomson Reuters reports that many lawyers, especially solo practitioners and small firm attorneys, cite administrative work as one of the primary sources of stress. These tasks can be time-consuming and often repetitive. Technology offers real promise in this area. Indeed, legal technology is expected to have a major impact in 2023 is the automation of administrative tasks. Automation technologies such as natural language processing (NLP) and machine learning (ML) are expected to be widely adopted in order to automate these tasks, freeing up time and resources for more complex and strategic work. Additionally, automation will increase accuracy and consistency, reducing the risk of errors and omissions.

 

3. Enhanced Cybersecurity Protection 

Technology is not without its drawbacks. A major source of stress for many lawyers and law firm managers is cyber security. According to research from McKinsey & Company, annual global cybersecurity losses may reach well into the trillions of dollars. The legal industry is a target for hackers. It is imperative that all lawyers and law firms have access to reliable cybersecurity services.

Tech is helping law firms, legal organizations, and legal departments enhance their cybersecurity protection to keep client data safe and secure. New developments in cybersecurity include advanced technologies such as artificial intelligence (AI) and machine learning (ML) to detect and prevent cyber threats in real time. Law firms, legal departments, and legal organizations that fall behind on cybersecurity technology are at an increasingly serious risk of a damaging data breach.

 

4. Embedded and Improving Data Analytics

Law firms that are not data-driven are at serious risk of being left behind by the competition. Data analytics is another area where legal technology is expected to have a major impact in 2023. As more and more legal data becomes available in digital form, the potential for data analytics to provide valuable insights and improve decision-making becomes greater. Law firms and legal organizations should increasingly be prepared to adopt data analytics tools and techniques in order to gain insights into their clients, cases, and operations. For example, data analytics is especially vital when it comes to things like client acquisition and digital marketing. More advanced data analytics are expected to be embedded into legal processes and workflows, allowing for real-time decision-making and improved efficiency.

 

5. Artificial Intelligence (AI) and AI-Inspired Products/Services 

Finally, 2023 may be the year when artificial intelligence (AI) and AI-inspired products and services truly hit the mainstream commercial market. TechTarget defines AI broadly as the “simulation of human intelligence processes by machines, especially computer systems.” What exactly that means in practice is a fierce area of debate. That being said, there is no question that AI and AI-inspired technologies are going to play a big role going forward—and sooner than many people realize.

According to TechCrunch, many new AI-related products and services are set to be released in 2023. For example, AI-inspired products and services such as virtual legal assistants and chatbots are expected to become more prevalent, providing clients with quick and easy access to legal advice and information. AI could also help to automate certain tasks or make them more efficient—this could include everything from administrative work to legal research to the drafting of key documents. AI-related legal technologies could have a big impact on the industry in 2023 and beyond.

 

Rize Technologies is a Leader in Tech for Law Firms

At Rize Technologies, we have been a leading provider of managed IT services for lawyers and law firms for more than two decades. Partnering with the best legal tech companies, we go above and beyond to ensure that our clients receive cost-effective, solutions-driven support. Contact us today to learn more about how our legal technology team can help.

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