Digital White Papers

61 WWW.ILTANET.ORG | ILTA WHITE PAPER KNOWLEDGE MANAGEMENT Modern KM Is Automatic: Keep the Humans, Just Automate the Knowledge to beer leverage proprietary knowledge through easier and quicker access, deployment and adaptation. Firms can use automation technology to embed knowledge and intelligence into lawyers' everyday activities and transactions. This is knowledge automation. Defining Knowledge Automation Every aspect of a law firm's interaction with clients depends on some form of knowledge, be it legal, relationship, process or organizational knowledge. Knowledge automation as a concept examines how firms can beer understand, manage and leverage these multiple kinds of knowledge by using smart technologies. Technologists tout as artificial intelligence (AI) is used for such tasks as ediscovery, contract review and legal research. Though skilled at data extraction and paern recognition, these technologies tend to be more artificial than intelligent. The truth is, no AI available for law firms can master a law firm's complex challenges without human input. And firms should not wish to remove the human element. Indeed, clients choose law firms precisely for their demonstrated knowledge and expertise. While technology brings enormous potential capabilities to law practice, lawyers must remain a part of it. This is where knowledge automation comes in. It recognizes that law firms are defined by various types of knowledge held within the firm and its people; automation provides a technological framework for capturing, managing and delivering know-how to lawyers and clients. The role of knowledge automation is not to replace lawyers, but to instead make obtaining access to, sharing and employing the firm's collective know-how easier so lawyers can work smarter, faster and beer. From Managing to Automating Knowledge managers can use knowledge automation to strategically benefit their firms in several ways. Advanced automation technologies enable firms to tightly integrate people, processes and systems to transform how they perform transactional work, address clients' needs, manage risk and solve evolving business challenges. Technology already has had a profound impact on firms, and the potential benefits are virtually limitless. Protect Against Leakage: Every time a lawyer leaves, the law firm risks losing tacit knowledge. As an entire generation of senior lawyers rapidly approaches retirement, law firms face massive knowledge loss that could translate into issues for their clients. An Altman Weil survey found that partners 60 years old or older are responsible for at least a quarter of law firm revenue at 63 percent of law firms. While 80 percent of lawyers believe they are delivering above average client service, only 40 percent of clients believe they receive it.

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