As we wrap up our journey through the legal tech landscape of the past year, it’s clear that 2023 will be a year to remember. Generative AI has not only provided lawyers with powerful tools to enhance their practices, but it has also sparked unbridled interest in technology at levels never before seen in our industry. Simultaneously, advancements in billing software have brought much-needed efficiency and transparency to financial transactions in legal practice.
The legal profession, often criticized for its reluctance to embrace change, witnessed an unprecedented shift in attitudes, largely as a result of the generative artificial intelligence revolution. These generative AI tools, ranging from sophisticated contract review and lifecycle management to intelligent legal assistants, are redefining how work gets accomplished in law firms.
Concurrently, the evolution of legal billing solutions has changed the invoice collections game. Time tracking, billing and online payments software have streamlined the arduous task of law firm billing, ensuring lawyers are compensated quickly and efficiently while also bridging the access to justice gap by offering legal clients increasing payment flexibility and convenience.
Looking ahead to 2024, there’s an exciting path ahead offering forward-thinking lawyers access to cutting-edge tools that will enable their firms to succeed and thrive in a rapidly evolving legal technology landscape.
Source: ABA Journal
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