Presentation from (Executive Director, Strategy) Bree Moody's presentation at the recent Lawyer's Weekly Future Forum.

1. L A W Y E R S W E E K L Y F U T U R E F O R U M
LAWYERS WEEKLY FUTURE FORUM
A N A L Y T I C S & B I G D A T A I N L A W
Bree Moody
Executive Director, Commercial & Strategy

2. L A W Y E R S W E E K L Y F U T U R E F O R U M
2016 LEGAL TECHNOLOGY SURVEY
Partner Firm /
Incorporated,
39%
Chamber / List,
25%
Corporation /
In-house Legal
Dept., 13%
Independent,
10%
Government,
6%
Not for Profit
Organisation,
3%
Other, 2% University or
Law School,
2%
7 5 0 A U T R A L I A N R E S P O N D E N T S F R O M A L L L E G A L
S E C TO RS .

3. L A W Y E R S W E E K L Y F U T U R E F O R U M
39%
27%
25%
4%
3%
1%
Security
Mobility
Cloud computing
Big data / Data analytics
Artificial intelligence
Virtualization
Technology with the Most Impact to the Legal Industry

4. L A W Y E R S W E E K L Y F U T U R E F O R U M
53% 52%
42%
38%
21% 21%
19%
14% 14%
9% 8%
5% 5%
2%
Calculators Document
mark-up /
annotation
tools
Document
management
tools
Matter
management
software
Client portals Document
assembly tools
Collaborative
workspaces
Document
review tools
eg. auto
citation check
Project
management
software
Dictation with
automated
transcripts
Market
intelligence
solutions eg.
share market,
property
market etc.
Data analysis
tools
Decision
support tools
Others, please
specify
Workflow Productivity and Efficiency Tools Currently Used

5. L A W Y E R S W E E K L Y F U T U R E F O R U M
54%
50%
42%
37% 36% 35% 33% 33%
26% 26%
22%
18%
9%
1%
Document
review tools
eg. auto
citation
check
Dictation
with
automated
transcripts
Document
assembly
tools
Data analysis
tools
Decision
support tools
Document
management
tools
Document
mark-up /
annotation
tools
Collaborative
workspaces
Matter
management
software
Project
management
software
Client portals Market
intelligence
solutions eg.
share
market,
property
market etc.
Calculators Others,
please
specify
Workflow Productivity and Efficiency Tools Would Like to Use

6. L A W Y E R S W E E K L Y F U T U R E F O R U M
LAW FIRM SELECTION PROCESS
BUSINESS DEVELOPMENT
EFFICIENCIES THROUGH AUTOMATION
A N A L Y T I C S & B I G D A T A I N L A W

7. L A W Y E R S W E E K L Y F U T U R E F O R U M
HOW DO CLIENTS FIND YOU?
L AW F I R M S E L E C T I O N P R O C E S S

8. L A W Y E R S W E E K L Y F U T U R E F O R U M
0 2 4 6 8 10 12
Invitations to Events/Meals/Entertaining
Social Media
Website/Marketing/Advertising
Branding as a Full Service Firm
Published Content by Counsel
Personal Contact by Counsel
Referrals from Colleagues
Demonstrated Understanding of Industry
INFLUENCERS ON LAW FIRM CHOICE

9. L A W Y E R S W E E K L Y F U T U R E F O R U M
• Legal analytics are now being used to select and manage law firm panels
and case preparation.
• Case data is enabling a view on parties, lawyers, law firms, judiciary,
findings, damages awarded and jurisdiction.)
• Insights from data can help to make predictions about how parties may
behave.
• Leading to compelling strategic planning on case presentation and
confidence in law firm hires.
LEGAL ANALYTICS
U S E O F D ATA TO M A K E Q UA N T I TAT I V E
P R E D I C T I O N S R E L E VA N T TO B OT H T H E B U S I N E S S
A N D P R A C T I C E O F L AW.

10. L A W Y E R S W E E K L Y F U T U R E F O R U M
• Find the most experienced and cost efficient counsel; and
• Build a panel of cost conscious litigators with the proven skill,
expertise and judgement to win matters.
US CASE STUDY: YAHOO
YA H O O ’ S O B J E C T I V E :

11. L A W Y E R S W E E K L Y F U T U R E F O R U M
• Top 100 ASX Company
• $9b turn over per annum
• 100+ in-house lawyers
• External legal spend $30m per annum
AUSTRALIAN CASE STUDY: COMPANY X
C O M PA N Y X P R O F I L E :

12. L A W Y E R S W E E K L Y F U T U R E F O R U M
AUSTRALIAN CASE STUDY: COMPANY X
S H A N M U K E R J E E
P R O D U C T S T R AT E G Y M A N A G E R APAC

13. L A W Y E R S W E E K L Y F U T U R E F O R U M
HOW DO YOU FIND CLIENTS?
TA R G E T I N G A N D E N G A G I N G C L I E N T S

14. L A W Y E R S W E E K L Y F U T U R E F O R U M
BUSINESS DEVELOPMENT
A N A LY T I C A L S O L U T I O N S C A N H E L P L A W F I R M L E A D E R S
M A N A G E B Y F A C T R A T H E R T H A N B Y I N S T I N C T
Savvy firms are using analytical tools to identify:
• Lifetime value (LTV) assessments
• Identification of cross-sell opportunities
• Segmentation of clients

15. L A W Y E R S W E E K L Y F U T U R E F O R U M
VIRTUALISTION OF LEGAL SERVICES
R I S E O F N E W L AW T E C H C O M PA N I E S
“We consider ourselves a tech company that provides legal
services. We use behavioral profiling to simulate clients
communication preferences and never meet our clients face to face”
Katie Richards Founder Virtual Legal

16. L A W Y E R S W E E K L Y F U T U R E F O R U M
D O MORE . D O B E TT E R .
TRANSFORM YOUR FIRM

17. L A W Y E R S W E E K L Y F U T U R E F O R U M
HOW WILL YOUR FIRM CHANGE
• Practitioners will have more time for the higher value
tasks.
• Heavy manual labour tasks will be automated and enable
higher quality and quantity outputs.
• Your firm will have greater insight from existing data
sources, cutting down on the amount of labour involved in
certain traditional research tasks, as well as broadening
the horizon of ‘research’ by allowing access to data that
was previously too obscure/ too buried.
W H AT W I L L Y O U R F I R M L O O K L I K E I N 2 0 2 0 ?

18. L A W Y E R S W E E K L Y F U T U R E F O R U M
D O C U M E N T M A N A G E M E N T
TO O L S : A M O N G T H E M O S T
U S E D I N T H E W O R K F O R C E
• 47% use document mark-up annotations
tools
• 39% use document management tools
• 15% use document assembly tools
• 28% use technology for matter
management
TECHNOLOGY REPLACES DRAFTING

19. L A W Y E R S W E E K L Y F U T U R E F O R U M
EFFICIENCY THROUGH AUTOMATION
G L E N N C O O K S L E Y
P R O D U C T S T R AT E G Y M A N A G E R APAC

20. L A W Y E R S W E E K L Y F U T U R E F O R U M
QUESTIONS?