Recently, I caught myself asking the same question of everyone I met professionally, whether at conferences or while initiating conversations. Equally, I have been asked the same question by almost everyone: How are you using AI in your work ? And the answers have been informative. In this post, I want to explore this question, focusing on the applications, solutions and systems used for regular day-to-day operations in organizations, rather than the underlying LLMs powering these applications. Before AI, there were already different solutions Before ChatGPT made its debut (sort of), there were already different solutions designed for specific requirements. And that made sense too. In-house legal teams have different requirements from law firms. CLM and spend management systems for in-house teams serve different purposes from contract drafting, reviewing and billing systems used by law firms. Interestingly, matter management across different practices within a law firm also has ...
Law firms, regardless of their size and revenue, already had basic business teams - accounts and IT and may be administrative. With the increase in awareness about running law firm as a business, the law firms are increasingly taking corporate style avatars with specific business teams managing specific functions. Finance manages finance controls including investments in technology, HR manages people and performances, Business Development and Market Communications managing publications, branding, PR, and Innovation manages technology. Then who is managing Practice? Practice Management is not new and certainly doesn't replace these teams or their functions. Practice Management does not generally own client origination. Its contribution to growth is different - understanding how the practice is performing and providing the operational information that helps Partners steer the law firm's business and make better growth decisions. At its broadest definition, law firm Pract...