Future of Legal Technology for Businesses Virtual Summit

Overview

Legal Technology combines the legal industry and software development to provide innovative solutions that automatically increase conversion rates for law and legal technology firms. It uses new technologies, from artificial intelligence to blockchain technology, to help deliver better and more efficient legal services, manage regulatory burdens, and make compliance more effective and efficient.

In the past, the technology that law firms used to support business management, accounting, billing, document storage, and retrieval was referred to as "legal technology." However, since around 2011, the term has expanded to include solutions that provide easy access to justice for the public, sometimes without an attorney, and connect the public with lawyers through legal channels. In 2019, the industry generated $17 billion globally. The tech and legit startup markets are expected to grow at a compound annual growth rate (CAGR) of 28% and generate revenue of $2.5 billion by 2025. As of 2017, the number of legal technology patents had increased by 484% worldwide. Therefore, that legitimate tech mastery will only benefit you for the foreseeable future.

With this, Group Futurista offers the latest episode of its virtual summit, "The Future of Legal Technology for Business," to highlight the importance of this topic.