In the dynamic realm of legal technology, staying ahead of the curve is not just a goal—it’s a necessity. ILTACON 2023 brought together the legal tech community to unravel the latest industry trends, tools, and strategies. This year’s conference highlighted emerging trends in data structuring, artificial intelligence, and resource availability.
1. APIs’ Increasing Relevance: Centralization & Connectivity
As the number of software tools continues to skyrocket, so does platform fatigue. To address the issue of sifting through decentralized information across multiple platforms, API’s have risen in popularity as a solution. For example, during the “API Solution Showcase,” attendees learned about three successful firm API projects. One example leveraged Bloomberg Law’s case information while another mapped and imported docket data from Westlaw Litigation Analytics. Another example described how Litera’s Foundation Firm Intelligence Software leveraged Courtroom Insight’s legal professional data. By centralizing information, these integrations demonstrate how APIs create more streamlined and efficient research processes. Based on API’s emphasis at ILTACON, we expect to see increased firm adoption of APIs in the future.
2. Technical Resources: Increased Necessity
The proliferation of new technologies and data sources offers many new opportunities for law firms and legal professionals. However, many firms lack the technical resources necessary to leverage these new opportunities. Whether the IT group is overwhelmed with other projects or the firm lacks the specific talent necessary to implement new tools, several sessions at ILTACON highlighted that it is increasingly obvious that firms need help. Although many vendors are unprepared to offer direct assistance, an increasing number of consultants and solution providers are stepping in to fill the gap. This trend should continue as law firm clients demand that lawyers place greater importance on integrating new data and technologies into their practice.
3. Artificial Intelligence: Continuing a Slow and Steady Ascent
It wouldn’t be a 2023 legal industry conference without the buzz of generative AI and its implications for the legal industry. At ILTACON, here were several AI product launches as well as sessions that discussed how law firms can better prepare for integrating AI into their firm’s practice. In headlining news, Thomson Reuters officially announced its acquisition of Casetext. In other sessions, such as “Why the Time is Now; a Central Repository for all Your Firm Data!” and “Why Taxonomies Still Matter in the World of AI,” thought leaders emphasized that organized and structured firm data will pay significant dividends later on, when AI technologies are officially implemented. Despite AI’s relatively slow adoption in the industry, artificial intelligence is here to stay.
