It is easy to get dragged onto the legal tech hype train. It is sometimes easy, while riding this train, to forget the very real practical issues that legal tech addresses. We at LexPredict often proselytize about the expanding role of legal tech, but we also put our money where our mouth is.
And we send co-founder and CSO Dan Katz all over the world to discover and track the latest developments.
Legal Innovation and Technology in Budapest
The global legal community is embracing the proliferation of legal technology. In many ways, European countries are at the forefront of technological innovation, and Hungary is no exception. The Legal Innovation and Technology event in Budapest last week showcased a small but growing interest in applying technology tools to the practice of law. Dan was invited to speak about using AI to analyze large data sets and predict legal outcomes. This is one of the best, most concrete examples of where AI and machine learning can make an impact in legal. Analyzing large corpora of cases, or SEC filings, or company data, is one of the few areas where the hype and the reality closely align.
Legal Tech Congress
Last Friday, Dan left Budapest and traveled across the continent to Brussels. He gave the keynote speech at the Legal Tech Congress, hosted by the Council of Bars and Law Societies of Europe (CCBE). The Legal Tech Congress addressed major technological innovations, like AI and ML, blockchain, and the Internet of Things (IoT).
In Brussels, Dan joined an international group of speakers on legal tech. Dan highlighted where these technologies really stand. He discussed the practical applications of legal tech that currently exist, where these tools are going, and how to get off the hype train.
There is no question that legal tech is truly global. There are innumerable possibilities for the global legal community to apply new and emerging digital technologies to law practice. And while conferences and conventions often buy in to the hype, law firms, legal departments, and LPOs all know that the right tech tool can vastly improve the way their organization operates.
About the CCBE
The Council of Bars and Law Societies of Europe (CCBE), founded in 1960, is an international non-profit association which has been, since its creation, at the forefront of advancing the views of European lawyers and defending the legal principles upon which democracy and the rule of law are based. Through its membership, the CCBE represents more than 1 million European lawyers. Their membership includes the bars and law societies of 45 countries from the European Union, the European Economic Area, and wider Europe.
The CCBE represents European bars and law societies in their common interests before European and other international institutions. It regularly acts as a liaison between its members and the European institutions, international organizations, and other legal organizations around the world.
LexPredict is an enterprise legal technology and consulting firm. Our consulting teams specialize in legal analytics, legal data science and training, risk management, and legal data strategy consulting. We work with corporate legal departments and law firms to empower better organizational decision-making by improving processes, technology, and the ways people interact with both. We develop software and data tools, and also offer execution and education services.
LexPredict has a number of software and data products, including LexSemble, ContraxSuite, CounselTracker, and LexReserve. These products assist organizations with early case assessment and decision trees, contract analytics and workflows, outside counsel spend management, and case valuation. LexPredict also offers advisory and capital services for legal tech startups through its LexGen Ventures arm.