Legal’s ‘missing middle’ problem — and how to solve it according to LexisNexis
Where does your firm store its matter metadata, and the data that drives your client reporting? It’s a pressing challenge for many large law firms, observes Andrew Lindsay, general manager at LexisNexis Enterprise Solutions, and one that modern technology can now solve much more effectively than in the past.
Clients have always demanded good management information (MI). In this post-pandemic world, expectations have continued to increase and a demand for 24/7 visibility of matters is the norm. But, if data isn’t stored in a central repository, how can it be reported on effectively, exploited by AI, or its security be confirmed?
It is obvious that legal businesses will lose out if they don’t make their data reusable. Lindsay says: “The key to future success is to repurpose data so that it drives innovation and new ways of efficient working.” For example, generative artificial intelligence (genAI) is the technology set to provide future insights and opportunities, yet it requires the data collected and available; especially sensitive material that must meet the increasingly strict demands of clients and legislation, to be stored and handled in a secure and standardised way.
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