Menu
Log in

WHY LAW FIRMS NEED A STRONG DATA STRATEGY: THE AI-DRIVEN FUTURE

August 23, 2023 12:25 PM | Michele Bisceglie (Administrator)

Author: David G. Kamien, CEO & Founder of Mind-Alliance Systems & Founding Member, LSSO SSSME Board*

The relentless advance of technology, including artificial intelligence (AI), is not news. Yet, amid this revolution, a fundamental cornerstone still remains – data.

Your firm's IT systems and content subscriptions house a gold mine of information, but problems such as inconsistent client names or misaligned metadata terms get in the way of optimally using this data. Without organized data, even the most advanced AI is rendered ineffective, adhering to the principle of garbage in, garbage out.

Large language models (LLMs) and the Generative AI they power can quickly process, analyze and even generate human-like text from massive datasets. Imagine combining this AI with consistently named data thanks to the SALI ontology – an open-source standard ensuring that data across various platforms speaks the same language, enabling seamless integrations and insights.

**The Power of Clean Data** 

Mind-Alliance Systems estimates that law firms with consistent, clean data will enjoy a 70% faster response time to market shifts and a 45% increase in operational efficiency. This could mean swifter case resolution, more precise legal strategies, super-powered business development, and enhanced client satisfaction.

 **Navigating Ahead**

The path to harnessing the future lies in our structured, 12-week accelerated project. It will enable your firm to craft a prototype that  is powered by well-organized, coherent data and by advanced AI to glean faster, better insights from your most valuable information. 

Potential use cases include:

  • Searching for the right lawyers to staff a project based on structured and unstructured data stored in a knowledge graph and accessed via an AI chatbot

  • Filtering through your client base to strategically focus marketing and BD efforts on clients with the greatest revenue growth potential

  • Writing thought leadership alerts and articles efficiently by tapping into background reference data and ensuring that they resonate with target readers 

By refining your data management strategy with our assistance, your firm –

  • Adapts more quickly to client needs,

  • Enables attorneys and administrative personnel to focus on higher value work, and

  • Positions itself as a beacon of innovation in the legal tech realm.

You have the power to dramatically transform your firm's operations, client relations, and industry reputation.

 **Your Next Step**

The journey might seem daunting, but the rewards are invaluable. Connect with experts who can guide your firm’s internal dialogue about your firm's data strategy and reliable AI applications. 

The future beckons. With the right tools and strategy, your firm can lead the way. 

*LSSO is privileged to have access to – and be supported by – numerous legal sales and service subject matter experts (SSSMEs). As a benefit to our members and the legal community at large, we have invited several of these industry-leading professionals to band together as a SSSME Board, which will regularly offer relevant and timely news, trends, strategies, and thought leadership on best practices as well as practical examples of what works…and what doesn’t.

LSSO | RainDance Sponsors & Partners

©2024 Legal Sales and Service Organization, PO Box 1572 Manchester, MA 01944