You Are A Lawyer: Take Risks and Change Careers in Law
Business:Careers
Change management in the legal industry is increasingly important as the industry recognizes the need for innovation and embraces technology. This podcast transcript provides insights into the role of change management in the legal industry and how it can drive positive transformation.
Maya Markovich was part of an advanced team that conducted change readiness assessments and developed implementation plans for big tech platforms. This work went beyond simply installing technology and providing user guides. It involved creating the muscle memory and buy-in necessary for long-term change adoption. At the time, Maya had no idea this expertise would be relevant to the legal industry.
"So the legal industry, you know, hasn't changed much for hundreds of years," explains Maya Markovich on the You Are A Lawyer podcast.However, Maya Markovich eventually realized they wanted a broader social impact and went to law school. While working in law, they were always drawn to working with technology and the benefits it could bring to both clients and attorneys. They saw the potential to reduce the drudgery of early years of practice and improve efficiency. Eventually, they transitioned to the legal tech side and stopped practicing law.
In this episode, we discuss:
Law and tech intersect for social impact in various ways. The podcast transcript highlights the importance of leveraging technology to address access to justice issues and make legal services more affordable and accessible to all.
The legal industry has traditionally been slow to embrace technology innovation. The industry has relied on traditional methods and practices for centuries with little change or advancement. However, there has been a significant shift towards embracing technology and innovation within the legal sector in recent years.
"Lawyers are just, you know, they're reluctant to change and the legal industry itself is reluctant to change for a lot of different reasons, but change is coming," shares Maya Markovich on the You Are A Lawyer podcast.ADVERTISER:
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One example of this shift is the emergence of NextLaw Labs, a tech-focused industry innovation catalyst founded by Dentons, the world's largest law firm. NextLaw Labs aims to drive transformation within the legal industry by investing in and evaluating legal tech startups and working with Dentons' clients on their internal innovation initiatives. This initiative recognizes the need for change and aims to position Dentons at the forefront of the evolving legal landscape.
The legal industry has been historically resistant to change for several reasons. Firstly, there is a lack of client-centricity, with the industry often failing to prioritize the needs and expectations of clients. Additionally, the legal sector has been slow to adopt technology, lagging behind other industries in utilizing technology to improve efficiency and deliver better client services.
"No one goes to law school to sit in a windowless room and do doc review," explained Maya Markovich on the You Are A Lawyer podcast.However, the landscape is changing rapidly. In just a few years, the number of legal tech companies has grown exponentially, from 75 in 2015 to close to 2000 today. These companies offer various solutions, from court filing and e-discovery tools to regulatory monitoring and client request intake platforms. This explosion of legal tech products demonstrates the increasing interest and demand for innovative solutions within the legal industry.
Moreover, institutional investors are starting to take notice of the potential in the legal tech market. Previously, legal tech was often overlooked or misunderstood by investors. However, as the industry continues to evolve and the demand for technology solutions grows, investors recognize the opportunity for growth and profitability in this sector.
The legal industry is known for resisting change, and many lawyers and law firms remain reluctant to adopt new technologies. This reluctance can be attributed to various factors, including a fear of job displacement, concerns about data security and privacy, and a lack of understanding or awareness of available technology solutions.
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