We are living in an age of unprecedented disruption. Once-lucrative revenue models, like billable hours, are under siege. Market structures and distribution channels that have been stable for decades are crumbling before our eyes. The demise of brands such as Kodak, Borders and Blockbuster leaves us with little doubt – shift is happening and no business is immune. So is the legal industry at risk? Here are 4 major shifts that are happening right now that may be threatening the legal sector as we know it: 1. The Age of Automation We are entering the age of automation and there are few industries that are immune. Consider the impact of driverless cars for example: What will it mean for where we’ll live and how we’ll work? Some industries that are flourishing, like pay parking stations for instance, we may not even see in 15-20 years’ time. In 20-30 years’ time car ownership and the daily commute to the office may be something that is not mainstream and this will have an impact on many aspects of how we do business. The biggest shift for legal professionals to be aware of in this space is the impact of blockchain technology. Blockchain is taking a lot of the routine research and discovery functions of paralegals for instance and replacing it with an algorithm. So some of the entry-level roles for lawyers will change in the next few years in a big way and we’re already seeing the beginning of that. 2. Empowered … Continue reading →