The future of law with Sysero: Five key trends shaping legal technology in 2024
As we prepare to step into 2024, the legal technology arena is poised for transformative changes that promise to continue to redefine the way legal professionals operate, collaborate, and deliver services. While technology propelled law firms to operate in new ways in 2023, the emergence of a new year will continue to see legal professionals adopt advancing technology to create a competitive advantage.
From cutting-edge advancements in workflow automation to the dynamic shift towards cloud-based solutions, we unveil the key trends that will influence the legal landscape in 2024 and beyond.
Greater Adoption of Automation
While 2023 proved to be a strong year for UK law firms, it was also a turbulent one. As we head into 2024, increasing cost pressures and high inflation continue to be a challenge for firms. As such, more firms will be pushed to embrace innovative technologies such as advanced automation to manage rising costs.
Not only do we expect to see greater adoption of automated solutions, we also expect to see it applied to a wider range of use cases within firms. For example, how Wedlake Bell leverages workflow automation for automated supply chain checks or how Spoor & Fisher Jersey unlocked automation to power more efficient trademark enquiry processes.
Continued Rise of Low-Code/No-Code Solutions
In the last year, the emergence of low-code/no-code solutions has proved to be a transformative force. These innovative platforms are empowering law firms to streamline and customise their processes with unprecedented speed and agility.
By minimising the need for extensive coding expertise, legal professionals can take the reins of application development, creating tailored solutions that meet the unique demands of their practice areas. Whether it’s automating routine tasks, developing client-centric portals, or optimising case management workflows, low-code/no-code solutions enable law firms to swiftly respond to changing requirements without sacrificing precision.
As we head into 2024, we anticipate this democratisation of technology to not only accelerate the pace of innovation within legal operations, but also help position those firms that adopt it at the forefront of a tech-enabled future, where adaptability is key, and efficiency is non-negotiable.
Extended Use of Cloud-Based Solutions
Law firms are moving to the cloud in droves, and it’s easy to see why. Cloud-based solutions provide unparalleled flexibility, enabling legal practitioners to work seamlessly from anywhere, fostering a new era of remote collaboration and flexibility. As law firms navigate the complexities of a digital age, the scalability, productivity, and accessibility of cloud-based solutions have become indispensable.
As move firms move to cloud-based technologies in 2024, IT leaders will need to prioritise data security. Fortunately, cloud-based technologies like Sysero already have integral data security elements built in, such as pseudonymisation, and can be integrated seamlessly with applications like iManage.
Enhanced Data Security
With cybercrime on the rise, data security is increasingly important within today’s law firms. In 2023, major law firms fell victim to cybersecurity ‘incidents’, and Britain and France’s cyber watchdog agencies warned that hackers are increasingly targeting law firms in an attempt to steal data that could tip the balance in legal cases. Heading into the new year, firms have the opportunity to better secure their data – and their reputations.
Cloud-based technologies like Sysero can go a long way toward ensuring data security and mitigating compliance risk. By embedding compliance into every day processes, digital workflows can be the key to minimising compliance risks and enforcing compliant behaviours. Plus, tools like Sysero also enable you to enforce data protection policies and securely store data using data security best practices, such as pseudonymisation and encryption.
Exploration of AI and Machine Learning
No legal technology trend list would be complete without a mention of AI and machine learning. Though incorporating AI into legal practice is no longer a new frontier, thanks to the emergence of tools such as OpenAI, we’re still a far cry from AI replacing lawyers and powering significant processes within the law firm.
According to recent research from PwC, 69% of Top 100 firms believe GenAI will have a positive impact on revenues. Despite this, 38% of Top 100 firms have not yet done anything with regards to this new technology.
Heading into 2024, we expect to see more firms explore the possibilities of AI, while embracing automation to solve the challenges of the immediate future.
The Year Ahead
The legal landscape is continually evolving and is certainly due for more change in the year ahead. There’s no doubt that technology will play a significant role in the law firm of 2024, and we expect it will be all about tapping into new ways to drive enhanced efficiency, deliver better client service and ensure tighter data security.
To talk about evolving your firm in 2024, get in touch with our team!
