Why All LegalTech Roads “Point” to a Platform Strategy
Ben Stoneham · 2020
LegalTech promises the same universal benefits, but on the face of it struggles to deliver the same experience as its consumer cousins. This chapter touches on the “point solution” market; the growing cry for interconnectivity and platforms; the pursuit of artificial intelligence (AI); and provides useful context and pointers along the way. Inherent in the term “digital operations” is the smart use of data and interoperability between components of our business. History tells us that pressure from customers focused on enterprise-wide digital operations capability may well be a key driver in forcing change. Platforms drive interoperability and standardized data between point solutions, eventually not just across legal, but the whole enterprise. Legal technology uses AI and machine learning capability today to parse large quantities of data and highlight or extract specified terms - in essence its primary function is currently “search”.