Here’s how they introduce the piece.
Over the last decade, technology has transformed knowledge management within the legal industry. But even during this digital evolution, the goal of the knowledge management function remains the same. One of the most succinct statements of this goal is from Google saying that the aim of knowledge management is “…to organize the world’s information and make it universally accessible and useful.” No small task considering that in 2016 about 90% of the digital data ever to exist in the world has been created in the two previous years and only 1% of that data has been analyzed, according to McKinsey & Company.
Luckily, law firm knowledge managers aren’t responsible for organizing all the information in the world, but even when narrowed to a single law firm, the job can be daunting. This is why applying artificial intelligence (AI) to this monumental task seems to be the natural next step. The thought of AI might be intimidating or seem like a far-future solution, but as technology continues to develop, it also becomes more accessible than ever.
To explore the AI and KM pairing, Adam Eastell, the chief legal and strategy officer at Eigen Technologies, joined Sally Roberts, a client success consultant at HighQ, to host a webinar, “How to use AI to scale knowledge management.”
Why is knowledge management important?
In the age of the internet, where answers to most questions are a mere web search away, the benefits of knowledge management within a law firm should not be a surprise to anyone.
With better access to knowledge, your firm improves:
- Efficiency in using existing knowledge rather than starting research from scratch
- Delegation to lawyers who can easily find checklists and established documentation to free up partners to focus on higher-value work
- Quality and consistency of work product delivered to clients, developing client loyalty
- Lawyer knowledge as KM keeps the firm up to date with the most current information
- Risk management allowing lawyers to refer to previous matters quickly and efficiently to identify potential risk for clients