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Is Legal Tech a Growing Industry?

Lawmatics

The market size of legal tech is ballooning , underscoring the demand for innovative legal software and its growth potential. Legal technology is reshaping client engagement, business operations, and delivery of legal services. What is the Legal Tech Industry? Is Legal Tech a Growing Industry?

Exhibits 148
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Legal Industry on the Brink: Generative AI Ushers in a New Era

Complex Discovery

According to the Thomson Reuters Institute report titled “2024 Generative AI in Professional Services,” this innovation is poised to revolutionize legal services by transforming research methodologies, drafting processes, and client interactions.

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Five Communication Skills Every Legal Professional Must Possess

CaseFox

To be a successful lawyer, one must exhibit impressive skills, from analytical and critical thinking to communication and negotiation skills. Analytical and critical thinking, communication, research, negotiation, and time management skills are all essential for lawyers to provide effective legal services to their clients.

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TGIR Ep. 228 – Cat Moon and Mark Williams Launch the New Vanderbilt AI Law Lab (VAILL)

3 Geeks and a Law Blog

Vanderbilt Law School recently launched an exciting new initiative called the Vanderbilt AI Legal Lab (VAILL) to explore how artificial intelligence can transform legal services and access to justice. We have our human centered mission to harness AI to expand access to legal services, and legal knowledge.

Education 116
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Legaltech 2019 – I Finally Made It

Advocate's Studio

The conference started with a State of the Industry address offering a more global view of the legal industry, addressing firms, in house legal departments and the newer entrant in the space – Alternative Legal Service Providers. Definitely some good information that I anticipate may help me in my in-house setting.

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Christian Lang on Governing the Rise of LLMs: How LEGA Provides a Safe Space for Law Firms to Use AI (TGIR Ep. 206)

3 Geeks and a Law Blog

He also discusses the difficulty in training new lawyers as LLMs make some tasks too easy, the coming market efficiencies in legal services, and the strategic curation of knowledge that will still require human judgment. And the market for legal services is dramatically underserved.

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Complete Look: ComplexDiscovery’s 2024-2029 eDiscovery Market Size Mashup

Complex Discovery

Software Segment Growth The software segment of the eDiscovery market is forecasted to exhibit significant growth, achieving a CAGR of approximately 9.43% from 2024 to 2029. Beginning at $6.08 billion in 2024 , software spending is projected to reach $9.54 billion by 2029. Spending in ROW markets is forecasted to rise from $5.07