Oz Benamram - Böcker

As law firms continually push to stay relevant in the information age, certain functions and roles will change drastically – possibly none more so than a firm’s information functions and librarians. Information services are now more important than ever, and are more closely linked and integrated with all other functions of the firm.This means, however, that many information departments and roles will need to undergo a considerable metamorphosis in order to realise their full potential. From integration with other functions of the firm (such as Business Development and Knowledge Management), to gathering intelligence to leverage a competitive advantage – library teams, with the correct application, are set to become critical in forging a firm’s digital pathway to increased success.

The discipline of knowledge management (KM) continues to evolve along with our ability to record larger and more varied kinds of information than ever before. Since its inception in the 1990s, it has passed through several stages, quickly becoming a credible field, and now an integral part of major businesses worldwide. Now, many have started to argue that KM is undergoing resurgence, possibly even transforming into KM 3.0, thanks to developments in artificial intelligence (AI). And, while AI has been around for many years, it has become a buzzword in the industry as questions loom over what it could mean for the labor market of the future. Adoption has been relatively slow in the legal profession, owing in part to its conservative nature, individual-focused training and no real incentive to overhaul the hourly billing model1. When in-house legal teams can exceed 1,000 people, sharing and reusing knowledge can easily become inefficient, with counsel often needlessly paying for the same research twice. Global intelligence software leader Comintelli estimates that $8.5 billion per year is lost between Fortune 500 companies alone on poor KM2, up from $31.5 billion in 20043, suggesting a recent rise in the number of firms embracing the concept. Despite this, there are still challenges posed to the legal world, and sharing insight is more vital than ever, not only within companies but between them. Innovations in Legal KM explores the endeavors of various legal firms - the problems they have faced, and the solutions they have developed - to improve their KM processes, and, ultimately, their bottom line.