Many of us in the United States are hitting the road/airport this weekend to get in the last bit of Summer. For Texans like me, we’ll still have some hot weather for the next few weeks, but eventually it will cool down and remind us that Mid-September through Mid-May is really why we put up with the summer heat.

I am going to see my mother, so that means a quick 12-hour drive out and a 12-hour drive back, over a three-day weekend. But it will be worth it to see family. At least, that is what I’ve been saying to psych myself up for this road trip!! Wish me luck.

One of the articles that piqued my interest this week was about LawLLM, and the ability to focus Large Language Models on legal topics. While I think the article and the paper behind it lack from the benefit of having people in the legal industry guide the group of engineers and computer programmers behind the paper, there’s something there in the idea of the potential behind smaller, more focused LLMs. I still have in the back of my mind that Thomson Reuters’ acquisition of Safe Sign Technologies may show TR tipping its hand that it can’t place all its AI Eggs into an OpenAI basket. Maybe I’m reading too much into this acquisition, but it would seem like a smart play in the long run for a company like TR not to get locked into a Duopoly of GenAI information providers. Kind of like most of us are with the duopoly of Legal Information providers (h/t to my co-host for saying this at lunch yesterday.)

Here’s this week’s edition of What. Just. Happened? Remember, you can track these stories with the AI Lawyer Talking Tech podcast (Spotify or Apple) which covers legal tech news and summarizes stories on a daily basis.

LawLLM Revolutionizes Legal Research with AI
LawLLM, an open-source large language model, is transforming legal research by improving the accuracy and efficiency of tasks such as case retrieval, precedent recommendations, and legal judgment predictions. This AI tool underscores the growing role of advanced technologies in enhancing legal analytics.

Icertis Partners with Harvey and Evisort for Enhanced AI-Powered Contract Management
Icertis, a leader in contract lifecycle management, has formed strategic partnerships with legal AI companies Harvey and Evisort. These partnerships are set to enhance Icertis’ contract analytics capabilities by integrating AI-driven tools that offer increased speed, accuracy, and customization in contract management, providing clients with more flexibility and choice​.

Spellbook Releases ‘Spellbook Associate’ AI for Complex Legal Tasks
Spellbook, a legal technology company, has launched ‘Spellbook Associate,’ an AI application that mimics the role of an associate attorney by handling complex transactional workflows. This marks a significant advancement in legal AI, as it allows lawyers to automate routine tasks, freeing up time for more strategic activities.

Office & Dragons Enhances Document Automation with GenAI
Office & Dragons, a legal tech startup, has incorporated generative AI into its document automation platform. This innovation enables lawyers to automate a variety of document-related tasks, such as generation, editing, and redlining, without needing to code, thereby democratizing the automation process and improving efficiency across legal practices​.

Generative AI Transforms Legal Drafting with CoCounsel Drafting
Generative AI is making significant inroads in legal drafting, as demonstrated by CoCounsel Drafting. This AI-powered tool streamlines the drafting process by automating tasks like template selection and clause finding, allowing lawyers to focus on higher-value client services. The adoption of such tools is expected to become widespread by 2029.

AI: Law Firms Stuck Between “FUD and FOMO”
Law firms are navigating the challenges of integrating generative AI (Gen AI) technology. While some firms are optimistic about its potential, others are cautious due to concerns about accuracy and its current limitations in client work. The debate between fear and uncertainty (FUD) and fear of missing out (FOMO) continues as firms explore AI’s capabilities​.

Leading In The Age Of Gen AI: Systematic Integrity For In-House Corporate Lawyers
In-house corporate lawyers are increasingly adopting Generative AI (Gen AI) for creating original content. Olga V. Mack, a Fellow at CodeX, Stanford Center for Legal Informatics, emphasizes the importance of developing comprehensive manuals and checklists to ensure the ethical use of Gen AI, promoting trust and accountability in legal department.

Morae Partners with ContractPodAi for Gen AI Contract Drafting
Morae Global Corporation has announced a partnership with ContractPodAi to bring Generative AI-driven contract drafting to their clients. This collaboration integrates ContractPodAi’s “Leah,” a Gen AI legal assistant, with Morae’s “MorAI” suite of solutions, aiming to enhance efficiency and accuracy in corporate legal departments, compliance functions, and law firms globally​.

Enhancing Legal Practice with AI and Machine Learning: Applications and Benefits
Artificial intelligence and machine learning are transforming legal practices, from AI-powered legal research to predictive analytics and automated document review. These technologies are improving accuracy, reducing costs, and optimizing legal workflows, making them indispensable tools for modern legal professionals.

This week, we bring back our original TGIR podcast guest, Zena Applebaum. Zena is now the Senior Vice President of Market Development at Harbor, and we discuss the ongoing transformation driven by technological advancements and strategic shifts. Her insights provide a valuable perspective on the challenges and opportunities facing legal professionals as they navigate these changes.

Zena talks about the integration of generative AI (Gen AI) into legal research tools, particularly at Thomson Reuters, where she previously worked. She emphasizes the challenges in managing expectations around AI’s capabilities while ensuring that the products deliver on their promises. The legal industry has high expectations for AI to simplify the time-consuming and complex nature of legal research. However, Applebaum highlights the need for balance, as legal research remains inherently challenging, and overpromising on AI’s potential could lead to dissatisfaction among users.

Zena was one of the first in the legal market to understand the role of competitive intelligence in shaping product development and market strategies. Applebaum reflects on her experience at Thomson Reuters, where she applied competitive intelligence not just to monitor competitors but to anticipate market dynamics and plan for the future. This approach allowed Thomson Reuters to stay ahead by avoiding surprises and making informed decisions that aligned with long-term goals. Her emphasis on listening to customer needs and understanding market trends underscores the importance of strategic foresight in the legal tech industry.

We also talk about Zena’s move over to Harbor, where she now focuses on market development. She explains that her move was motivated by the opportunity to impact a smaller, more agile company and leverage her legal domain expertise in a broader context. At Harbor, Applebaum aims to redefine the company’s value proposition and position it as a holistic service provider for the legal industry. This shift from a product-centric role to a more strategic, client-focused position highlights the evolving nature of legal services and the increasing demand for comprehensive solutions that address various aspects of legal practice.

Furthermore, the podcast explores the potential impact of AI on the legal landscape and Harbor’s role in helping law firms and legal departments adapt to these changes. Applebaum notes that while AI has not yet revolutionized the industry as quickly as some anticipated, it is gradually driving efficiency and reshaping how legal professionals approach their work. Harbor’s technology-agnostic approach allows it to assist firms in optimizing their tech stacks and preparing for the future, whether through AI, cloud migration, or other technological advancements. This adaptability positions Harbor as a key player in guiding firms through the ongoing digital transformation.

Zena shares her outlook on the future of the legal industry, particularly the growing sophistication of in-house legal departments and the increasing competition for legal talent. She predicts that as AI continues to enhance efficiency and drive changes in the industry, the demand for skilled legal professionals will rise. Law firms will need to adapt to these shifts by embracing new technologies and rethinking their strategies to remain competitive in a rapidly evolving market.

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Music: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jerry David DeCicca⁠⁠⁠⁠⁠⁠⁠⁠

Transcript

Continue Reading AI, Market Dynamics, and the Future of Legal Services with Harbor’s Zena Applebaum

Perhaps one of the things that we don’t think about when we are at conferences like ILTACon, is the amount of emails we get post-conference. Most of mine this week start with “sorry we didn’t connect at ILTACon, but here’s your opportunity to talk with me about the product you ignored and are probably regretting not seeing at ILTA last week.” Or something like that… I may be embellishing a bit.

There is still a lot of updates, mergers/acquisitions, and new product release information hitting the news this week, most of which was announced at ILTA. Some of the updates seem to be more of the big two legal information companies finding some point solutions to enhance their AI offerings. It’s my guess that we will see many more of these types of advancements in the coming weeks and months as companies work to fill in gaps in their offerings.

The one that caught my eye this week was Lexis’ launch of Protégé Legal AI Assistant which should leverage its Lexis Search Advantage Knowledge Management (KM) tool along with Lexis+ AI. We’ve been looking for a way to dig into our DMS (iManage/NetDocs) for a while now, and this may crack that door open a bit and let us see what happens with those results, and what security teams at law firms are going to say about using AI on the DMS.

Here’s this week’s edition of What. Just. Happened? Remember, you can track these daily with the AI Lawyer Talking Tech podcast (Spotify or Apple) which covers legal tech news and summarizes stories.

 

  • Thomson Reuters Acquires Safe Sign Technologies
    Thomson Reuters, a leader in legal information and technology, has acquired UK-based Safe Sign Technologies, a startup specializing in legal-specific large language models (LLMs). This acquisition aims to bolster Thomson Reuters’ CoCounsel AI Assistant, enhancing their AI capabilities in delivering advanced legal technology solutions tailored to specific legal tasks and ensuring legally permissible data usage​.
  • Spellbook Launches Gen AI Agent for Legal Projects
    Spellbook has introduced a new generative AI agent, “Associate,” specifically designed to handle complex legal tasks such as drafting financing documents and contract reviews. This innovation is set to help smaller law firms compete with larger ones by automating routine tasks, allowing lawyers to focus on more strategic activities.
  • LexisNexis Clarifies AI Integration with Document Management Systems
    LexisNexis has clarified how its Protégé Legal AI Assistant integrates with law firms’ Document Management Systems (DMS). This integration provides firms with greater control over data access and enhances data security while leveraging the benefits of AI to improve legal workflows​
  • Legal Technology Hub Discusses Their Acquisition of Legal Tech Consultants
    Legal Technology Hub has expanded its capabilities by acquiring Legal Tech Consultants. This merger strengthens the combined entity’s ability to provide comprehensive solutions for legal tech vendors and law firms, enhancing guidance and support for early-stage startups and large law firms alike​.
  • Moonlit Secures Funding After Spinning Out from Deloitte
    Amsterdam-based legal research platform Moonlit, which recently spun out from Deloitte, has secured funding from Curiosity VC. Moonlit aims to enhance its AI-driven platform that streamlines cross-border legal research, addressing the need for efficient and accessible legal research across EU member states​.
  • USC Gould School of Law Launches AI Specialization
    The Gould School of Law at the University of Southern California has introduced a certificate specialization in Law and Artificial Intelligence. This program will equip students with the knowledge to navigate legal issues surrounding AI, such as privacy, intellectual property, and ethics, reflecting the growing intersection of AI and law​.
  • Aderant Launches viAllocate for Work Allocation Challenges
    Aderant has launched viAllocate, a solution designed to tackle work allocation challenges in law firms. The platform optimizes lawyer availability and skill tracking, improving the allocation of resources and enhancing associate development, ultimately maximizing billable hours​.
  • Amazon-Backed Anthropic Faces Copyright Legal Challenges
    Anthropic, an AI startup backed by Amazon, is embroiled in legal battles over the use of copyrighted materials in training its AI models. The outcomes of these cases could set precedents for AI development and intellectual property rights​.
  • Legal Aid and AI Help Bridge the Justice Gap
    AI is playing a crucial role in transforming legal aid in the U.S., helping to close the “justice gap” for low-income Americans. AI-powered tools are streamlining case management, document preparation, and volunteer recruitment, enabling legal aid organizations to serve more clients efficiently.

This week, we talk about an exciting development in the legal technology industry: the acquisition of Legal Tech Consultants by Legal Technology Hub. We bring in the key players involved in this strategic move, including Nikki Shaver, Jeroen Plink, and Cheryl Wilson Griffin. The trio share their insights into the motivations behind the acquisition and their future plans. This acquisition not only marks a significant milestone for both companies but also promises to bring innovative solutions to the legal tech market.

Nikki Shaver, co-founder and CEO of Legal Technology Hub, explained that the acquisition was driven by the natural synergy between the two companies. Legal Tech Consultants, led by Cheryl Wilson Griffin, had long been admired for its advisory work with early-stage startups, which complemented Legal Technology Hub’s existing focus on more mature companies. As the conversations between the two teams deepened, it became clear that combining their efforts would create a more comprehensive offering in the market. The integration of Cheryl’s expertise and client base into Legal Technology Hub aligns with the latter’s long-term strategic goals of expanding its reach and influence in the legal tech industry.

Jeroen Plink, co-founder and COO of Legal Technology Hub, emphasized the practical benefits of the acquisition. By merging Cheryl’s consulting services with Legal Technology Hub’s existing offerings, they can now provide even more robust support to vendors and law firms alike. The combined experience of the team, which spans over 60 years in the legal tech space, allows them to offer unparalleled insights and guidance. This depth of knowledge is particularly valuable in helping legal tech vendors navigate the complex buying cycles of law firms and in-house legal departments, ultimately improving the overall legal tech ecosystem.

Cheryl Wilson Griffin, the founder of Legal Tech Consultants, expressed her excitement about joining forces with Legal Technology Hub. She highlighted the unique blend of expertise that each member brings to the table, creating what she described as a “super dream team.” Cheryl’s experience as a legal tech buyer and consultant allows her to provide invaluable insights to startups, particularly in preparing them to meet the rigorous demands of large law firms. Her focus on building out resources for mid-sized firms and startups is seen as a key area of growth, particularly in developing content that helps these companies better understand the market and improve their offerings.

The conversation also touched on the cultural fit between the teams, which both Nikki and Cheryl noted as crucial to the success of the acquisition. They had built strong relationships over time, ensuring that their visions and working styles aligned before moving forward. This careful approach has made the integration process seamless, allowing them to hit the ground running. The team is already looking ahead to new initiatives, including potentially productizing some of their consulting services and exploring the development of an accelerator or incubator for legal tech startups.

This acquisition of Legal Tech Consultants by Legal Technology Hub represents a significant step forward in the legal tech industry. The combined expertise of Nikki Shaver, Jeroen Plink, and Cheryl Wilson Griffin promises to deliver innovative solutions and strategic guidance to both vendors and law firms. As they continue to expand their offerings and build on their strengths, the legal tech community can expect to see exciting developments from this newly formed powerhouse in the industry.

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Music: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jerry David DeCicca⁠⁠⁠⁠⁠⁠⁠⁠

Contact Information:

Legal Technology Hub Website

Getting home last night (actually early this morning) from #ILTACON24, I had a chance to finally catch my breath. I flew into Nashville early on Monday to catch the keynote, Hannah Fry explain that the single most human word that differentiates us from the machines is “POOP.” This made the 13-year-old boy in me very happy. 

Perhaps the best shirt I saw at ILTACON was worn by Jessi Adler, that showed the battery levels of attendees from Day 1 to Day 4 (in reality, ILTACON is 5 days, but I guess Sunday doesn’t count??) Needless to say, Day 4 battery levels are almost fully depleted.

 

It was great to meet up with old friends, new friends, previous podcast guests, talk with vendors about what they are doing these days (hint: a lot of it is Gen AI, but let’s keep that a secret.) After six-years of doing The Geek in Review Podcast, it is not unusual for me to have a conversation with someone, and five-minutes into the conversation suddenly remember that this person was on the podcast, and we both kind of forgot. I think that says more about my memory than it does about the quality of the podcast. At least, that’s the story I’m going with.

Even with all the happenings at ILTACON, there was a lot going on this week in the legal tech world. Actually, some of these events were happening because of ILTACON. So, here’s a weekly update of stories that caught my attention from my other podcast, the daily legal tech AI Lawyer Talking Tech. -GL

  • Training AI to Mentor Like a Partner: Insights from Dr. Megan Ma: Dr. Ma discusses the transformative potential of AI in the legal field, highlighting how her projects aim to democratize access to legal tools and resources. She also explored the ethical implications of AI, emphasizing the need for transparency and accountability in the development of legal tech solutions. Dr. Ma’s insights offer a compelling look at the intersection of law and technology, making her appearance a must-listen for those interested in the future of the legal profession.
  • K&L Gates Advises Leonardo.ai on Sale to Canva: K&L Gates played a key role in advising generative AI company Leonardo.ai during its acquisition by Canva. This deal underscores the growing importance of AI-driven creativity tools and Canva’s strategic move to integrate advanced AI into its platform​.
  • DISCO’s New CEO Focuses on Growth and AI Innovation: Eric Friedrichsen, the new CEO of legal tech firm DISCO, is steering the company toward growth by addressing cultural challenges, improving revenue, and introducing innovative AI products like Cecilia Auto Review, which enhances document review in e-discovery​.
  • Berkeley Law Launches AI-Focused Advanced Law Degree: The University of California, Berkeley Law School has introduced a groundbreaking Master’s of Laws program centered on artificial intelligence. This program, set to launch in 2025, is designed to equip legal professionals with the skills necessary to navigate AI’s growing impact on the legal industry.
  • LexisNexis Introduces Protégé Legal AI Assistant: LexisNexis announced the release of its third-generation AI capability, the Protégé Legal AI Assistant. This tool personalizes the AI experience for legal professionals by integrating past user behavior and firm data, aiming to become the go-to AI assistant in the legal industry​.
  • LexTalk World Conference 2024: The LexTalk World Conference brought together experts in law and technology to explore advancements in legal tech and digital transformation. The event emphasized knowledge sharing and collaboration, highlighting the evolving landscape of legal services​.
  • Aderant Showcases New AI Solutions at ILTACON 2024: At ILTACON 2024, Aderant unveiled several new AI-powered tools, including the Stridyn cloud platform and viAllocate for optimizing lawyer staffing. These innovations demonstrate Aderant’s commitment to advancing AI in legal tech and enhancing operational efficiency​.
  • Google Trains Its Employees To Shield Emails And Other Documents From Review: A federal court’s ruling against Google for maintaining a monopoly in online search could have far-reaching implications for the legal tech industry, especially in terms of how digital platforms operate and the innovation of legal research tools​.
  • UniCourt Unveils AI-Powered Litigation Data Platform at ILTACON 2024: UniCourt unveiled its new AI-powered litigation data platform at ILTACON 2024. This platform is designed to provide legal professionals with advanced tools to analyze and manage litigation data more effectively. By leveraging AI, UniCourt’s platform offers enhanced capabilities for identifying trends, predicting outcomes, and streamlining the legal research process, aiming to improve decision-making and operational efficiency in legal practices.
  • From code to conduct: ethical considerations for AI in legal practice | Reuters: A new code of conduct addressing the ethical considerations of using artificial intelligence (AI) in legal practice has been introduced, reflecting growing concerns about the responsible deployment of AI tools in the legal industry. The code emphasizes the importance of transparency, accountability, and fairness when integrating AI into legal workflows, and provides guidelines to help legal professionals navigate potential ethical dilemmas.

 

This week on The Geek in Review, we discuss the future of legal technology with Dr. Megan Ma, a distinguished research fellow and Associate Director of the Stanford Program in Law, Science, and Technology at the Stanford Center for Legal Informatics, also known as Codex. Dr. Ma’s groundbreaking work in integrating generative AI into legal applications takes center stage as she shares her insights on translating legal knowledge into code and the implications of human-machine collaboration in the legal field.

Dr. Ma discusses her unique background in law and linguistics, emphasizing the challenges of translating legal language into deterministic computer code. Her fascination with language and its nuances has inspired her research at Codex, where she explores how legal concepts can be effectively communicated through technology. She recounts her academic journey, explaining how her multilingual skills and interest in natural language processing have shaped her approach to developing legal tech solutions.

At Codex, the mission is to empower the legal system through innovative technology. Dr. Ma describes Codex as a collaborative hub, where experts from various fields work together to address inefficiencies and pain points in the legal system. She highlights the center’s commitment to human-centered design, ensuring that their technological advancements are co-created with relevant stakeholders. This approach ensures that the tools and solutions developed at Codex are practical and beneficial for both lawyers and clients.

One of the standout initiatives at Codex is their mentorship model, designed to mirror the traditional mentorship found in law firms. Dr. Ma explains how they use AI to create legal personas based on the redline practices of experienced partners. This innovative approach allows junior associates to receive focused guidance, helping them improve their skills and knowledge in a more efficient and impactful manner. By integrating AI into the mentorship process, Codex aims to bridge the gap between theoretical legal education and practical experience.

Dr. Ma introduces the concept of agentic workflows, where AI agents make autonomous decisions based on specified goals rather than predefined tasks. This dynamic interaction is particularly useful in legal negotiations, where unforeseen circumstances often arise. The negotiation model developed by Codex includes features like client rooms, expert consultations, and various levels of difficulty to simulate real-world scenarios. This hands-on training tool is designed to help young lawyers navigate complex negotiations and improve their problem-solving skills.

In the Crystal Ball segment, Dr. Ma shares her vision for the future of legal technology. She emphasizes the importance of developing tools that tap into the legal brain, focusing on the process behind legal decisions rather than just the end product. By capturing the experiential knowledge of seasoned lawyers, Codex aims to create more effective and intuitive AI tools that can support the legal profession in new and innovative ways. Dr. Ma’s insights highlight the potential for AI to transform the legal field, making it more efficient, accessible, and responsive to the needs of both practitioners and clients.

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Music: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jerry David DeCicca⁠⁠⁠⁠⁠⁠⁠⁠

Transcript

Continue Reading Training AI to Mentor Like a Partner: Insights from Dr. Megan Ma

If you’re like me, your in-box (and SPAM filter) were packed with ILTA messages to come visit vendors at booth #XXX. It is amazing how many vendors and legal tech folks who are going to be there and vying for your attention next week. I have to say that my calendar is packed, and that’s before I even find good educational sessions to attend. If you are going to be there and you want to see me, you better get on the calendar today. 😉

Lots of action in the legal tech industry this week. The Stanford CODEX/Flatiron M&A Simulator is one that we are monitoring, and trying out. We had Flatiron’s Conrad Everhard on the Geek in Review this week, and (spoiler) we have Dr. Megan Ma from CODEX on the show next week talking about this AI training tool. If you are looking for something practical, you should definitely check this tool out.

Here’s a few articles that caught my eye this week. See you in Nashville! – GL

 

  • Gravity Stack Embraces Generative AI
    Gravity Stack, a legal tech and consulting group affiliated with Reed Smith, has fully embraced generative artificial intelligence (AI). The company is advising clients on AI implementation, utilizing technologies like Perplexity AI and OpenAI’s SearchGPT. Gravity Stack’s shift towards AI highlights the legal industry’s increasing reliance on advanced technologies to improve productivity and adaptability in legal processes​.
  • Flatiron Launches GenAI M&A Training Simulator
    Stanford Law School’s Codex and Flatiron Law Group have introduced a groundbreaking AI-driven M&A negotiation simulator. This tool allows legal professionals to practice negotiations with AI agents representing opposing parties. The simulator aims to bridge the gap between academic training and real-world legal practice, making it a significant advancement in legal education​
  • Elon Musk Sues OpenAI Over Mission Deviation
    Elon Musk has filed a lawsuit against OpenAI and its CEO, Sam Altman, alleging that the organization deviated from its original non-profit mission by shifting towards for-profit activities. This lawsuit underscores the growing tensions in the AI industry as companies balance innovation with ethical considerations​.
  • EU AI Act: A New Era of AI Regulation
    The European Union has published its comprehensive AI Act, marking the first global regulation of its kind. The Act categorizes AI systems based on risk and imposes strict requirements on high-risk systems. This regulation will significantly impact AI development and deployment, especially for companies operating within or targeting the EU market​.
  • Illinois Amends Biometric Information Privacy Act
    Illinois has enacted an amendment to its strict Biometric Information Privacy Act (BIPA), limiting the number of violations an individual can claim. This change is expected to reduce the potential for massive damage awards in BIPA class actions, marking a significant shift in biometric privacy law​.
  • American Bar Association Issues AI Ethics Guidelines
    The American Bar Association (ABA) has released new guidelines for lawyers using generative AI tools. The guidelines emphasize the importance of competence, confidentiality, and transparency when using AI in legal practice. This marks a critical step in ensuring the ethical use of AI in the legal profession​.
  • Microsoft vs. Delta: IT Infrastructure Dispute
    In a legal dispute following a global technology outage, Microsoft has accused Delta Air Lines of failing to modernize its IT infrastructure, contributing to the extended disruption. This case highlights the challenges companies face when relying on legacy systems and the potential legal repercussions​.
  • Stanford’s AI-Powered Legal Training Simulator
    Stanford Law School’s Codex, in partnership with Flatiron Law Group, has launched an AI-powered M&A training simulator. This innovative tool allows legal professionals to practice negotiations in a simulated environment, offering real-time feedback and enhancing legal training through AI​.
  • Texas AG Settles $1.4 Billion Facial Recognition Suit with Meta
    The Texas Attorney General’s office has reached a $1.4 billion settlement with Meta over the unauthorized use of facial recognition technology. This case signals increased enforcement of privacy laws and highlights the legal risks associated with biometric data​.
  • Legal Tech Innovator David Cambria Joins Epiq
    David Cambria, known as the “Godfather of Legal Operations,” has joined Epiq as Managing Director of the Legal Business Advisory Practice. Cambria’s move to Epiq underscores the growing importance of legal operations in modern legal practice​.
  • EU AI Office Calls for Participants to Draft AI Code of Practice
    The European Union Artificial Intelligence Office is seeking participants to help draft the AI Code of Practice as mandated by the AI Act. This code will guide AI developers in complying with new regulations, ensuring that AI deployment in the EU adheres to ethical and legal standards​.
  • Google Analytics 4 for Law Firms
    Google Analytics 4 (GA4) has become a vital tool for law firms, offering insights into website performance with an event-based data model that tracks user interactions more accurately. This allows firms to make data-driven decisions, optimize user experiences, and improve client acquisition strategies .
  • EmotionTrac Prioritizes Human Expertise in AI Strategy
    EmotionTrac, a legal AI startup, emphasizes human oversight in its technology. While the company uses AI for tasks like emotion-tracking and jury analysis, it believes that the limitations of large language models (LLMs) like ChatGPT necessitate careful human involvement, particularly in ensuring accuracy and reliability in legal contexts .

This week, we sit down with Conrad Everhard, founding partner of Flatiron LLP, a pioneering law firm that has revolutionized M&A services with their innovative flat fee model. Conrad shares the fascinating origin story of Flatiron, its unique approach to legal services, and the challenges and successes they’ve encountered along the way.

Everhard recounts the inception of Flatiron LLP, co-founded with Mark Haddad and Lenny Nuara, former big law partners, who sought to modernize legal services post-financial crisis. Despite their elite backgrounds, reentering the private law firm space proved challenging due to their detachment from Big Law for a few years. Driven by their frustrations with Big Law’s resistance to change and the convergence of factors such as acceptance of virtual models and access to senior labor, they took the bold step of founding Flatiron. This new model law firm leverages technology and client-focused solutions to disrupt traditional legal services.

When it comes to Flatiron’s groundbreaking flat fee M&A services, Conrad explains that the motivation behind this disruptive approach was to bring more transparency, predictability, and cost-efficiency to the fee structure. Over several years, Flatiron has honed a model that relies on low overhead, innovative labor deployment, and technological advancements. They operate on a general contractor model, utilizing a network of expert contractors on a project basis, which allows them to offer high-quality services at a lower and more predictable cost compared to Big Law.

Conrad highlights Flatiron’s development of “Deal Driver,” a workstream efficiency platform that streamlines the M&A process. Initially created as an internal tool, Deal Driver organizes and manages data through each phase of a deal, incorporating AI and human intelligence to enhance efficiency. This platform has not only improved their internal processes but has also gained popularity among clients, leading to its spin-off as a proprietary platform. The success of Deal Driver underscores Flatiron’s commitment to innovation and client satisfaction.

Flatiron’s unique labor pool taps into senior associates and counsel with elite firm backgrounds who, for various reasons, seek alternative work environments. Flatiron offers better pay and a more flexible, engaging work culture, attracting highly skilled professionals. Conrad emphasizes the importance of their “coolness factor” in recruitment and client acquisition, noting their collaborations with Stanford Codex and the positive reception from private equity clients who appreciate their efficiency and data management capabilities.

In the crystal ball segment, Conrad speculates on the future of the legal industry. He predicts that traditional Big Law firms may eventually adopt more innovative models, possibly through spin-offs or off-brand ventures, to stay competitive. Additionally, he foresees alternative legal service providers and sandbox experiments in places like Utah and Arizona challenging the traditional legal market. Despite the potential for disruption, Conrad remains confident in Flatiron’s model, emphasizing the green field of opportunities ahead and their readiness to adapt and innovate continuously.

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Email: geekinreviewpodcast@gmail.com
Music: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jerry David DeCicca⁠⁠⁠⁠⁠⁠⁠⁠⁠

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Conrad Everhard on LinkedIn: ⁠Conrad Everhard⁠
Email: ⁠ceverhard@flatiron.legal⁠
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TRANSCRIPT

Continue Reading Inside Flatiron’s Flat-Rate M&A Model with Conrad Everhard

This was one of those weeks where I had to decide whether to scroll through a few hundred/thousand emails, or just declare email bankruptcy after spending the previous week in Chicago at the AALL Conference. I won’t say exactly what I did… but, I will say it was the faster of the two decisions. ILTACon is coming up next, so be prepared for another OOO message from me while I meet up with a few thousand of my closest friends in Nashville.

Over the past couple of weeks, we’ve seen a lot of legal tech companies raising more capital, with Harvey suddenly becoming a unicorn. But well-known names like Clio and Harvey weren’t the only ones tapping the funding pool.

There was also a lot of activity with government regulations going on this week. Courts and governments were making decisions on the risk that companies face if they use AI in their hiring practices, as well as more decisions on the ability to obtain patent rights on inventions that were created with the use of AI.

As we roll into a new month, it would be strange if Litera didn’t acquire yet another company, wouldn’t it? We also learn that companies like Paxton AI are hitting high scores of accuracies on the Stanford Legal Hallucination Benchmark, and WK is launching new tax products leveraging AI capabilities. And Harvey heads to Japan.

Here are a few of the stories that caught my attention. Remember, you can find these stories and more on the daily AI Lawyer Talking Tech podcast.

Have a good weekend everyone! – GL

  • Litera Acquires FileTrail: Litera, a global leader in legal technology solutions, has recently acquired FileTrail, a leader in information governance and records management. This acquisition expands Litera’s governance offerings, providing a comprehensive Governance, Risk, and Compliance (GRC) solution for law firms and corporations.
  • Definely Receives Innovate UK Grant: Definely, a UK legal tech startup, received a £585,000 grant from Innovate UK to develop new GenAI products for simplifying the legal document review process. This funding will allow Definely to invest in AI-powered technology solutions, enhancing efficiency in navigating legal documents for legal professionals​.
  • Paxton AI Achieves High Benchmark Accuracy: Legal AI company Paxton AI has achieved a remarkable 93.82% accuracy on the Stanford Legal Hallucination Benchmark, demonstrating the reliability of its AI tools for legal research and analysis. This advancement addresses concerns about AI accuracy and promotes responsible use in the legal field.
  • Hotshot Expands GenAI Training for Legal Professionals: At ILTACON, Hotshot showcased its foundational GenAI training for legal professionals. The platform offers over 300 courses covering legal, tech, and business skills, aiming to bridge the knowledge gap on generative AI and its impact on law practice​​.
  • Harvey Partners with Mori Hamada & Matsumoto: In a groundbreaking move, Harvey has partnered with Mori Hamada & Matsumoto, Japan’s leading law firm, to bring AI-enabled legal solutions to the country. This partnership marks a significant step for Harvey as it expands into the Asia-Pacific region, demonstrating the increasing demand for AI solutions in the legal sector.
  • Wolters Kluwer Enhances Legal Research with GenAI: Wolters Kluwer is harnessing generative AI for enhanced tax and legal research. AI-powered tools analyze vast amounts of data, providing legal professionals with insights and predictions, improving efficiency and accessibility in legal research​​.
  • Meta Settles Texas Facial Recognition Lawsuit: Meta has agreed to pay a record $1.4 billion to settle a class-action lawsuit alleging the company violated state privacy laws through its use of facial recognition technology. This settlement represents a significant victory for privacy advocates and highlights the growing concerns over the use of such technology​​.
  • Germany’s AI Inventor Decision: Germany’s highest court has ruled that artificial intelligence cannot hold the title of inventor on patents. The Federal Court of Justice upheld the principle that only humans can be recognized as inventors, despite the growing debate over the role of AI in innovation. This decision has significant implications for the future of AI-generated inventions and patent applications​
  • Robin AI Raises Over $40 Million: Robin AI has raised over $40 million in funding, developing a Legal AI Assistant that can cut contract review time by 85%. The company’s technology, integrated with Anthropic’s Claude LLM, provides AI-suggested edits and support for drafting and negotiating agreements, setting a new standard in legal AI applications​​.
  • DecoverAI Secures $2 Million: DecoverAI, a legal tech startup, has secured $2 million in funding for its AI system designed to automate tasks in legal disputes. This technology aims to enhance productivity, increase accuracy, and uncover valuable insights, revolutionizing the legal industry by providing attorneys with the power of large language models​​.
  • First Street Raises $46 Million: First Street, a provider of climate risk data, secured $46 million in an oversubscribed Series A and Series A-1 funding round. This investment will accelerate the launch of First Street’s software solution for assessing physical climate risks and expand its operations internationally.
  • Federal Court Rules on AI Hiring Bias: A federal court has ruled that AI vendors can be held liable for hiring bias in their tools. This decision stems from a lawsuit against WorkDay, an AI-powered hiring platform accused of discriminating against applicants based on race, age, and disability. The ruling emphasizes the growing importance of AI bias testing and evaluation to prevent unintended discrimination in the workplace​​.
  • EU AI Act Tightens Grip on High-Risk AI Systems: The EU AI Act, effective August 1, 2024, imposes stricter regulations on high-risk AI systems used or developed by U.S. companies operating in the European Union. The act classifies AI systems into four risk categories, with the highest level requiring compliance with extensive obligations. U.S. companies must implement measures to mitigate risks, promote transparency, and enhance accuracy and security​​.

This week, we discuss the evolving landscape of professional development and training within the legal industry. With a special focus on innovative methods and technological advancements, this episode features insights from three distinguished guests: Adam Stofsky, CEO at Briefly, Ian Nelson, Co-Founder of Hotshot, and Caitlin Vaughn, Managing Director of Learning and Professional Development at Goodwin. Together, they explore how modern training programs are being reshaped to meet the demands of a rapidly changing legal environment.

Staying Relevant in Rapidly Changing Times
Adam Stofsky discusses the challenges and strategies for keeping legal training content fresh and relevant. Briefly’s custom content creation, which addresses real-time issues faced by legal teams, ensures that the material is always up-to-date. Stofsky highlights the importance of integrating modern tools like AI to enhance training efficiency without losing the human touch. The conversation transitions into how technology like AI and tools such as Descript are transforming content creation, allowing for more efficient and scalable training solutions.

Practical Skills and Training Innovation
Ian Nelson emphasizes the importance of practical skills over theoretical knowledge in legal training. He shares Hotshot’s approach to delivering hands-on, practical training that prepares lawyers for real-world scenarios. Feedback from users indicates a high demand for practical training that directly supports their daily tasks. Nelson also touches on the strategic importance of training programs, noting how firms are increasingly integrating such programs into their overall professional development plans.

Goodwin’s Comprehensive Training Program
Caitlin Vaughn presents an in-depth look at Goodwin’s first-year associate training program, a full-time, eight-week initiative that combines technical and professional skills development. Vaughn explains how the program blends live sessions, asynchronous learning, and interactive components to create a holistic training experience. This innovative approach not only prepares new associates for their roles but also fosters a culture of continuous learning. Vaughn also discusses the integration of laterals, focusing on personalized training plans to address individual needs and ensure smooth transitions.

Future Challenges and Opportunities
In the crystal ball segment, the guests share their insights on the future of legal training. They discuss the challenges of managing rapid changes in law, technology, and training methodologies. The consensus is that while there are significant challenges, there are also immense opportunities to innovate and improve the effectiveness of legal training. Customization, quality content, and effective pacing are highlighted as key factors for successful training programs in the future.

The discussions underscore the importance of innovative, practical, and engaging training solutions that keep pace with the evolving demands of the legal profession. As the legal landscape continues to change, firms that embrace these advancements will be better positioned to equip their lawyers with the skills they need to succeed.

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Contact Us: 

Twitter: ⁠⁠⁠⁠⁠@gebauerm⁠⁠⁠⁠⁠, or ⁠⁠⁠⁠⁠@glambert⁠⁠⁠⁠⁠
Email: geekinreviewpodcast@gmail.com
Music: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jerry David DeCicca⁠⁠⁠⁠⁠⁠⁠⁠

Contact Information:

Adam Stofsky: Adam@brieflynow.com | Briefly | LinkedIn: Adam Stofsky
Ian Nelson: Ian@hotshotlegal.com | Hotshot | LinkedIn: Ian Nelson
Caitlin Vaughn: LinkedIn: Caitlin Vaughn

Transcript:

Continue Reading The Evolving Role of Training and Professional Development in the Legal Industry