425: Exploring the Legal Tech Ecosystem (w/Colin Levy)
Nov 27, 2023
auto_awesome
Author Colin Levy discusses the evolving legal tech ecosystem and its potential to transform the legal industry. Topics include the impact of AI, access to justice, generative AI, and innovative tools in legal tech.
Legal technology can make accessing legal information easier and cheaper, particularly through the use of generative AI tools.
Legal tech companies and professionals play a crucial role in bridging the gap between legal resources and those who need them, addressing access to justice issues.
Deep dives
The Growing Role of Legal Tech in the Law
The podcast episode features an interview with Colin Levy, author of the Legal Tech ecosystem, who discusses the impact of legal technology on the legal profession. Levy, a lawyer with a background in technology, shares his observations on the lack of technological advancements in the legal industry compared to other industries. He emphasizes that technology can make accessing legal information easier and cheaper, highlighting the role of generative AI tools in providing legal research and aiding with document automation. Levy also encourages law students to stay informed about legal tech tools and their potential impact on the legal profession, suggesting internships, speaking with professors, and exploring legal tech companies as ways to gain exposure to the field.
The Evolution of the Legal Tech Ecosystem
Levy explains how the legal tech ecosystem has developed over the last few decades, with technology and process changes driving the evolution. He emphasizes that technology alone is not the game-changer; it's how people use technology and the ways in which it is integrated into legal processes. He suggests that legal professionals should keep technology ahead of them and remain adaptable, rather than striving to keep up with the rapidly advancing tech landscape. Levy also highlights the increased efficiency and productivity demanded of legal departments, often resulting in the need to do more with fewer resources. In response, technology has emerged as a tool to help streamline processes and enhance productivity.
Legal Tech and Access to Justice
Levy discusses the potential of legal technology to address access to justice issues. He points out that legal tech can make accessing legal resources cheaper and faster, particularly for those in need. Tools such as generative AI solutions and online platforms enable individuals to access legal information, file forms, and gain knowledge about specific legal tasks. Levy emphasizes the importance of legal tech companies and innovative legal professionals in bridging the gap between legal resources and those who need them, making the legal system less convoluted and more accessible to all.
Preparing for the Changing Landscape of Entry-Level Jobs
Levy addresses concerns about the impact of legal tech on entry-level job opportunities. He explains that legal tech is reshaping the nature of these jobs rather than eliminating them. While some tasks previously performed by junior associates may be automated, new opportunities are emerging that require critical thinking skills and human judgment. Levy encourages law students to familiarize themselves with various legal tech tools, such as practice management systems, workflow management tools, and document automation software, emphasizing the importance of staying aware of technology's role in the legal industry. He suggests seeking internships, externships, and building relationships with professors to gain exposure and experience in the legal tech field.
Welcome back to the Law School Toolbox podcast! In today's episode, we're talking with Colin Levy -- author of the book The Legal Tech Ecosystem -- about what's new and exciting in the field of legal technology, and how AI might change the future of law practice.
In this episode we discuss:
Colin's background and path in the legal tech space
What does "the legal tech ecosystem" encompass and how has it developed over the last 20 years or so?
How can legal tech help lawyers "do more with less"?
How access to justice issues are being alleviated
The impact of generative AI on law firms
People, companies, and tools that are innovating the legal tech field
