The Docket
- Kimberley Orcullo
- Nov 4, 2024
- 2 min read
BRINGING YOU THE LATEST IN LEGALTECH NEWS
TLTF & Friends in the News
‼️ Infodash goes back to back - announcing both Dykema and Fisher Phillips partnered with Infodash to power their firm-wide intranet solutions, enhancing flexibility, integrations, and support for SharePoint Online and Microsoft 365.
🎉 Congrats to the entire Monadd team on their selection to pitch at TechCrunch Disrupt - if you’ll be there, stop by and say hello!
✍️ Spellbook is steadily streamlining the drafting process, announcing an exciting integration with Thomson Reuters, so lawyers can draw on Practical Law’s expert-created legal content.
News from the World of Law
Meta and 50+ companies urge EU AI regulatory reform, warning inconsistent rules stifle innovation and risk global competitiveness.
Clio's report reveals AI usage among legal professionals jumped to 79% in 2024, from just 19% in 2023!
TikTok's recent redaction error reveals that, despite technological advancements, some lawyers still face challenges in securely handling confidential information.
DoNotPay was fined $193,000 by the FTC for misleading "Robot Lawyer" claims and must warn users about product limitations.
Billing rates for top firms may reach nearly $3,000 hourly, with current rates at $2,400-$2,875 for senior partners.
A survey found that due to generative AI, 58% of in-house lawyers expect reduced reliance on outside providers for routine tasks.
Cleary Gottlieb uses generative AI to improve efficiency in legal tasks, establishing ClearyX to provide specialized AI services.
Luminance’s Legal-Grade™ AI reduced contract review time by over 60%, improving efficiency and compliance for its legal team and organization.
By the end of 2024, 78% of law firms will accept online payments, with 44% collecting over $3,000 monthly, according to the MyCase and LawPay report.
Wolters Kluwer's survey shows a shortfall in ESG preparation, with 68% of respondents seeing increased demand for ESG legal expertise, but less than a third of law firms feel prepared to address market demand.
Listen
Ted Theodoropoulos, Infodash’s CEO, discusses ILTACON 2024, generative AI, legal career advice, and Infodash's future in hybrid work. (29 mins)
Caitlin "Cat" Moon, the Director of Innovation Design at Vanderbilt Law School, discusses generative AI's impact on the legal profession and fostering technological adoption among attorneys. (56 mins)
Tanner’s Other Page Turners
Robinhood rolled out presidential election event contracts, highlighting their efforts to “unlock a new asset class,” despite some arguing this appears as a gambling mechanism.
Old movies may be back in style, as repertory and revival films see an uptick in popularity.
Apple Intelligence has arrived for certain iPhone, iPad and Mac devices, with more major Intelligence features set to release throughout 2025.
See more about TLTF’s Portfolio Companies
About The LegalTech Fund We invest in companies transforming the world of law. This newsletter is put together by the team at The LegalTech Fund. Follow us on LinkedIn.
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