In an era where digital transformation is fast-pacing international trades, it won’t be wrong to say that the legal industry is also experiencing a continuous exponential growth in terms of clientele and business outcomes. To accommodate this growth, these days legal companies are adopting advanced technologies with open arms. From legacy business operations being replaced with light-weight software solutions, to the onset of innovative in-house law departments, to millennial lawyers incorporating and utilizing Artificial Intelligence (AI) for driving significant value, the limits of the legal vertical are being pushed forward significantly.
A myriad of AI-fueled automation tools are disrupting the delivery of legal services. Leveraging AI, solution providers have deployed chatbots that advise clients in states of despair and have automated all the aspects in the field of legal services. Owing to the reliability and versatility of AI-based products, legal companies are now able to mitigate risks, improve practice efficiency, and reduce cost and time.
Going hand in hand with AI in re-inventing the legal space is big data analytics. Encompassing the combined capabilities of descriptive, predictive, and prescriptive analysis of legal data, the modern big data analytics technologies are powered by numerous techniques including natural language processing to mine value from legal data and help companies predict the outcome of cases, forecast litigation costs, estimate the value of cases, and make crucial decisions regarding cases even before going to trial.
To help enterprises choose the best solution provider, APAC CIO Outlook brings forth a competitive list of the best solution providers in the legal tech arena. Our distinguished panel that comprises prominent CEOs, CIOs, VCs, and analysts, along with APAC CIO Outlook’s editorial board has assessed several legal tech solution providers and shortlisted the ones that are distinct.
We present the 10 Most Promising Legal Tech Solution Providers—2018.