‘Huge potential’ lying dormant in legal innovation
Addressing the audience at GlobalX’s ‘A Shifting Legal Landscape’ event late last week, Mr Laundy urged law firms to embrace technological innovation.
“Clients and consumers increasingly demand more for less,” he said.
“Companies that invest in digitised platforms now will see the long-term benefits of intuitive technology, functionality and enhanced productivity for users.”’
Mr Laundy said that although Australia is ranked highly in ingenuity and innovation, it does poorly in terms of collaboration. He suggested that the outdated silo model is holding firms back from taking full advantage of new technologies.
“Australian businesses, particularly in the legal and conveyancing sectors, have traditionally operated in silos, but collaboration is essential if businesses want to stay relevant in an era of digital disruption,” he said.
“There’s huge potential for businesses to expand their offering through engaging with research institutions and getting PhD students to consult with industry professionals to enact change.”
One way to foster this flow of ideas is through partnerships between law firms, such as the pro bono seminar series developed collaboratively by Lander & Rogers, Henry Davis York and Colin Biggers & Paisley.
The partnership was announced late last year as a way for lawyers to share their expertise and contribute to the development of the Australian pro bono sector.