2019 has been an amazing year for legal tech. More and more legal service providers are beginning to walk the walk rather than just talking the talk. Furthermore, capital is finally flowing into the industry like never before. In other words, these are exciting times to run a legal tech blog.
Over the past year, Legal Tech Weekly has been conducting its own research and published more than 50 articles on legal tech and legal innovation. In this final text of 2019, we have gathered those insights and condensed them into a single coherent analysis of the status quo of legal tech and legal innovation. Since it's so long and comprehensive, we have decided to publish it as an eBook that you will find here in our Library or in the Library of Legal Business World.
We have identified three main challenges that have been essential to the latest years' development: 1. A change in consumer demand. 2. Increased competition from alternative legal service providers. 3. Maturation of disruptive modern technologies.
But instead of just giving up, we have decided to focus on the positive stories, on the avantgarde of legal innovation and the pioneers of legal tech. So in response to the before-mentioned challenges, we have also investigated some of the most interesting initiatives and solutions that the legal industry develops to cope with change. Among them are: 1. Improved tech literacy. 2. Alternative business models. 3. Engagement in the surrounding ecosystems.
We hope you will enjoy the read. Otherwise, Legal Tech Weekly will be back with more articles about legal innovation in 2020.
Editor at Legal Tech Weekly