Legal organizations are continually seeking ways to reduce their eDiscovery spend, manage eDiscovery processes more efficiently, and accurately forecast their legal budgets. Metrics play a significant role in achieving those goals.
Priori Legal, the leading legal marketplace for in-house legal teams, today announced it was honored as a recipient of the Buying Legal Council (BLC) Collaboration Award in conjunction with Hearst for its work on an outside counsel decision-enabling platform called Scout.
In 2021, Priori and Hearst began a collaboration to use Priori’s powerful search and granular data-surfacing ability from its flagship Marketplace product to help in-house legal teams access insights about their existing, trusted firm relationships. Hearst, Zimmer Biomet, Marsh McLennan, a Fortune 10 company and Orrick were the beta cohort for Scout.
A few months ago, we were mesmerised by DALL·E 2’s ability to generate realistic images and art based on short descriptions. Now the people behind DALL·E 2 have gone viral again with the launch of ChatGPT.
Both DALLE and ChatGPT highlight the advancements in generative AI. Compared to predictive AI, generative models have impressively fluent results, however, their quality is harder to assess. How do we know if a blog generated with ChatGPT is correct or if it’s accurate? Most of the output is fluent, and tangentially relevant, however these systems are inherently unreliable, making errors of both reasoning and fact.
While machine translation models are inherently predictive, where both accuracy and precision are expected, generative models like ChatGPT can open up new avenues for translators and the localization industry.
The cost of creating content will drop, which means that even more content will be created. This creates a need for linguistic services for revising, adapting, and certifying the AI output. The concept of Machine Translation Post Editing will expand into linguistic validation, cultural adaptation, tone adjustment, fact checking and bias removal.
Another application is generating shorter or longer examples of the translation to help with formatting in-context. It is clear that NMT models will be complemented by LLMs for improving fluency or offering value added services like content insight.
While ChatGPT isn’t quite there yet – it’s certainly raised interest in conversational AI and the possibilities around the technology. But, is it going to transform the translation industry? No – it still has a long way to go. And until then it’s important to remember that only a robust, secure, and adaptable NMT solution can be trusted if you’re looking to engage with global audiences.
Depending on where you look, a coming recession is either inevitable or just very likely. One thing is clear: Economic uncertainty will be a fact of life in 2023 and it will affect just about every industry, including legal services. Looking ahead, “new law” solutions that offer flexible resourcing, such as legal marketplaces, may help fill many of the gaps that companies will experience during this uncertain future.
To get a full picture of the current legal services market, you need to look back to the current economic downturn’s precursor, the Great Resignation, during which employees left the legal industry in record numbers. For law firms and corporate legal departments alike, the result has been vacancies that are taking too long to fill in the face of a workload that is as busy as ever, despite fewer resources to rely on.
So, what is the impact of the Great Resignation and economic downturn on the legal industry, and how will those trends fuel the rise of alternatives to the traditional law firm model? For many companies, one answer to the current predicament has been to turn to legal marketplaces, staffing firms or alternative legal service providers (ALSPs) to address their needs quickly and cost-effectively.
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Since May 2022, the Financial Times, one of the world’s leading news organizations—along with research partner and legal think-tank RSGI—has been examining how legal services providers are helping in-house lawyers increase the speed of business in their Accelerating Business Special Report. As part of this report, one of the solutions they highlighted is Scout, Priori’s new outside counsel decision-enabling platform.
The Financial Times explains the problem that technologies like Scout are solving: “In-house lawyers’ experience of dealing with complex problems and multiple processes should put them at the heart of new efforts to speed up business outcomes. Yet that happens all too rarely in practice—if anything, the legal department can often become an obstacle instead of smoothing the way.”
Organizations that invest in future fit localization — people, process, technology — report enormous ROI: massively expanded capacity and speed, simplified workflows, and higher customer engagement and market penetration.
This is the most intuitive and feature-driven version of Legal Files to date.
Legal Files Software, Inc. is excited to announce the launch of its latest release: Legal Files 12.0. This version of its legal case and matter management software includes an integration with DocuSign, new Outlook features and enhanced security to incorporate the latest technical innovations. Many design changes were added to ensure readability, clarity and efficiency.
Blue Car Technologies’ iManage Integration Solutions
Blue Car Technologies is a leader in innovative software solutions that improve day-to-day efficiency for law firms and corporate legal departments. We offer arrange of integration solutions specifically designed for iManage customers.
DocuSign and iManage Work Integration
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The market leading integration improves governance and traceability of the entire DocuSign signing experience and includes rich and flexible configuration options to match your organisation’s workflow.
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The solution provides an automatic 2-step archiving solution to meet your DMS Matter compliance requirements. It has a highly configurable workflow to apply, review and approve extension requests. Learn more.
BI Datahub
Our BI Datahub solution provides a streamlined integration between Microsoft Power BI and your other mission critical business applications such as iManage Work, connecting you directly to your data, uncovering predictive patterns, associations and trends across your organisation.
iManage Footer Control
Our iManage Footer Control solution enables our Desktop for Windows customers to efficiently organise documents with the Automatic Footer tool.
Minisoft ARCS3 and iManage Work Integration
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#Automation for the win!
Discover how contract lifecycle automation can streamline CLM processes with the help of leading contract lifecycle management software tools.
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