It was not long ago when e-mails were a new technology and predictions for their importance in not only the world of business but law seemed over exaggerated. Now, 25 years on, they have become an essential part to our everyday lives and especially for law firms who are trying to deal with cases remotely on a day-to-day basis.
So the question is… what will be the new ‘e-mail’ for law firms in the future? Well the answers are coming out Israel.
The LawTech sector in Israel is one which is not only thriving but also evolving with the current demands of the global law industry. Whether it be through adapting to remote working, automated document drafting, online court systems or predicting disputes, all are examples of some of the technology that Israel has to offer in the legal system. The continued digitization of the law industry is a process that many other industries have gone through in the past, but it is one which law firms will benefit greatly from. The future will likely see lawyers and technology companies working closely together to deal with the highly intense industry in a more efficient manner. Artificial intelligence and machine-learning seem like ‘buzz-words’ in the field of innovation, however the cross-sector reference they bring among spreads across a multitude of industries, None more so than for the legal sector. Which is why we’re likely to see lawyers become more familiarized with A.I., machine-learning and predictive technology for example, as they are expected to become key aspects of the future system of law.
Here are some of the most successful and innovative technologies coming out of Israel currently, and ones that are growing in traction as we move towards a more digitalized age:
- LawGeex is an AI-powered contract review platform that enables businesses to automatically review and approve contracts. They enable legal teams to expedite review turnaround, ensure legal compliance, and increase overall operational efficiency based on the general counsel’s pre-defined checklist.
- Cligal Tech is an application designed to assist lawyers in performing administrative legal tasks, such as preparing legal documents for submission to courts or arbitrators, redacting sensitive or confidential information from documents, enabling speedy execution of legal documents by the client or third parties, creating eBinders following equity financing or M&A closings, and others.
- COPA is a file sharing and sensitive document management platform designed to address critical communications pain points. COPA helps reduce the risk of human errors, providing exceptional protection and collaboration capabilities without compromising on usability. Their technology really helps law firms to manage files more productively and to minimize any mistakes being made in the process.
- LegalUp is a platform that enables law firms and businesses to generate automated, dynamic legal documents using their own content. LegalUp’s software provides a tool for lawyers to develop accurate documents based on the firm’s patterns and knowledge.
- LawGic, although currently with an unreleased product, is developing an SaaS solution aimed at providing advanced digital tools for the legal industry. The company’s first solution, Dox.Expert, was designed to save law firms time and money while increasing efficiency, billable hours, employees’ wellbeing, and general sustainability. With Dox.Expert, legal professionals can create documents including bundles, court files, complex letters, agreements, and tender booklets. Dox.Expert also organizes files and converts them to PDFs, which are indexed, numbered, and sectioned.
- SettlewiZe have developed a platform for resolving disputes using the wisdom of the community. SettlewiZe’s platform is aimed at resolving disputes between suppliers and consumers in cross-border eCommerce, members of communities, and disputes that couldn’t be resolved by customer service.
These types of technologies show the range of legal tech features that Israel has to offer and how technology in this space is evolving with the growth of digital demand. Who knows what the latest technology will be in another 25 years’ time, but we should be ready to get used to digital law being a major piece of the sector’s landscape for years to come.
For further information, please contact your local Israel Economic Mission.