Updated: Mar 4, 2020
A.I. can significantly reduce time and money spent on unbillable hours working on marketing, client relationships, business growth and development. As well as your personal relationships.
Lawyers Wear Many Hats
IT Expert, Finance, Business Strategist, Legal Practitioner, Project Manager, Client Relationship, Human Resources Director, Managing Director and Marketing Guru.
Small Law Firms Face Stiff Competition
There are nearly 100,000 lawyers and notaries in Canada
Small law firms make up a bulk of this segment
More than 17,000 Canadian law firms have 1 to 10 lawyers
Fewer than 100 firms with 50 lawyers or more
Federation of Law Societies of Canada (FLSC) https://flsc.ca/
Large Firms Have it Easier
Large law firms are able to leverage their human resources in order to manage the different aspects of running a law firm. Small firms do not have this luxury.
With so much competition and departments to manage solos and lawyers from small firms are required to put in many hours of non-billable time to maintain a successful business.
A.I. The Great Equalizer
With regular innovations and improvements coming out in the law field; small law firms who embrace new technologies quickly will have a competitive edge over their main competitors as well as being technically on par with larger firms.
With A.I. lawyers can be assisted with many jobs:
social media engagement
Applications are being developed and improved to help lawyers quickly find relevant information, organize it and make more informed case, marketing, and business decisions.
An Investment in Success
With platforms and applications that are leveraging A.I. for marketing such as the two giants of data collection Google and Facebook. You are able to leverage their data for lead nurturing and sales to find relevant audiences, gaining you a better cost per acquisition; accomplishing a better return on your investment.
Their resources can be leveraged as a tool to help gain valuable insights, uncover new sources for finding clients as well as helping your audience share your information creating an excellent source of referrals.
It Only Gets Better
It isn’t always a native intelligence or talent or dedication that makes the difference between achieving great success and mediocrity or even failure. The difference often times comes down to what he or she knows and how that person makes use of that knowledge.
As more and more data are collected the application becomes smarter further increasing your click-through rates with more relevant audiences.
The convenience and benefits of adapting A.I. in small law firms are huge.