News You Can Use – June 2023
Legal technology is revolutionizing the way lawyers work at a rapid pace. In an industry plagued with slow tech adoption, lawyers now have access to powerful software solutions that streamline and automate many aspects of their work. For those who attended CLOC, it will come as no surprise to you that much of the conversation was around leveraging AI and LLMs and which roles inside a firm or legal department will be on the chopping block next.
Many are guessing the biggest changes will come in the world of managed review, as advents in AI around review can dramatically reduce the need for large cohorts of contract reviewers. Some suggest that CLM tools may become a thing of the past. Others say that paralegals and support staff will be transformed into prompt engineers. Conjecture aside, one thing is certain: if your legal tech stack does not include a platform leveraging LLMs, it likely will very soon.
Legal technology is reshaping our profession by enabling lawyers and legal professionals to work smarter, faster, and more effectively, ultimately improving client service and outcomes. And clients expect their lawyers to be utilizing the latest tech available. Why? Because they already do.
Read on for links to the research reference above and more, and learn how Lupl is being leveraged to elevate the client experience 👇🏼.
What's New in Lupl
Our team has been hard at work to improve your experience with Lupl, and make getting work done frictionless. Here are the highlights of what we shipped recently.
- 🔔 Notification Center upgrade. Stay connected with real-time updates for all notifications, eliminating the need to refresh the feed manually. Effortlessly filter and delve into the notifications that are significant to you, whether based on the subject matter or notification type.
- ✅ Tasks redesign. Lupl tasks keep getting better and better! Not only can you quickly add multiple tasks inline within the matter, assign them to team members, and attach documents. Now you can assign priorities to tasks as well!
- 🔗 iManage integration, expanded. Firms using iManage can now rename folders and documents in Lupl. For users using the iManage integration in Lupl, we've eliminated the need to rename those documents and folders inside your DMS - do it all from your Lupl matter and it will effortlessly sync with iManage!
- 🔍 Lupl Drive search improvements. Firms using Lupl Drive (our native storage) can now search the contents of a document from Lupl's Global Search feature. Looking for that one clause in a document across all of your matters? We've got you covered!
How customers (you) are using Lupl
Successful practitioners harness Lupl to elevate their practice, boosting efficiency, client satisfaction, and profitability for their law firms. Our Success team has compiled a list of 80+ use cases across almost all practices. We highlight a different use case each month.
Lupl can be used to develop and audit ESG compliance programs to ensure regulatory compliance, risk management, and reputation protection for clients.
This reduces risk, improves compliance management, improves efficiency & profitability, elevates the client experience, and positions the firm to win more work.
How it works
- Employ Lupl Matter Templates to standardize ESG compliance program development and auditing processes, accounting for regulatory requirements, firm best practices, and client preferences.
- Establish a secure workspace for managing the ESG compliance program development and auditing process from start to finish.
- Assign tasks and responsibilities to team members, and monitor progress in real-time using Lupl's task management features.
- Set automated reminders for important dates, deadlines, and events, such as reporting and internal review deadlines.
- Collaborate with clients and other parties in a central, secure workspace.
- Save the matter history automatically to the firm's Document Management System (DMS) for compliance and record-keeping purposes upon completion.
Have a use case you want to share? We would love to hear it. Check out our new Use Case Library for some inspiration!
IRL / URL
A collection of interesting finds across the web (URL) and a chance to meet with the Lupl team in real life (IRL).
- LexisNexis unveils new Lexis+ AI. Our take - Lexis+ AI uses LLMs (GPT-4 included) to explore legal research, create summaries of legal issues and generate drafts of various documents. The tool is available only to a select group of AM 50 law firms; legal professionals can sign up through LexisNexis' "AI Insider Program." Lexis AI aims to provide more accurate and comprehensive legal research and analysis, with features such as natural language processing, semantic search, and entity recognition. The tool is part of a growing trend in the legal industry towards using AI to improve efficiency and accuracy in legal work.
- In-house teams expect law firms to use legal analytics. Our take - A new survey conducted by Lex Machina shows that in-house teams increasingly expect law firms to use legal analytics tools - because they do. In-house teams are using legal analytics tools to gain insights into case outcomes, understand judge behavior, and identify potential risks and opportunities. They expect the law firms they work with to be able to provide metrics, such as their litigation win-loss record or how quickly they resolve cases (efficiency scoring). An industry slow to accept tech or change is now recognizing the benefits of building their firm's business and law practices with legal analytics.
- Roundup Of Legal Tech News from CLOC Institute. Our take - as to be expected, the main focus of CLOC this year in Las Vegas was AI. Many legal service providers unveiled integrations to their platforms with LLMs like ChatGPT or announced new partnerships within the industry. From eDiscovery to contract drafting, the legal tech industry is getting a (text-to-image) makeover that revolves around emerging tech, platform fatigue, and client demand.
- How to talk about A.I. like an insider. Our take - this month, all we can talk about is emerging AI tech in the legal space. We thought we would share this short article offering a comprehensive glossary of AI terms. It covers various terms and explanations related to AI, including key terminology such as machine learning, deep learning, neural networks, natural language processing, and computer vision. The glossary also includes terms related to AI applications, ethical considerations, and common misconceptions. If you want to familiarize yourself with AI terminology, look no further!
In our very first ILTA Product Briefing, India Preston, our Director of Platform Solutions, will demonstrate why Lupl is the go-to LPM solution for lawyers and legal professionals.
💻 Online | July 19, 2023 | 12-1 PM EST
Lupl is a proud partner of the Singapore Law Academy. Hear from subject matter experts about the state of legal today in Asia, the art of law firm management, and more. For participants who qualify, this is a SILE Accredited CPD Activity.
🇸🇬 Singapore | August 3-4, 2023
Lupl is thrilled to be exhibiting at ILTACON again this year at the Walt Disney Resort in Orlando, FL. Stop by Booth 200 (just to the left of the Pacific Hall entrance) and get a sneak peek at our latest features before they're rolled out to the public!
🇺🇸 Orlando | August 20-24, 2023