As director of practice services at Baker & Hostetler LLP, Katherine Lowry reports to the CIO and provides strategic leadership and governance of the firm’s information technology deliverables and services to five core practice areas. While her role oversees knowledge management, training, and integration of business applications, business process improvement solutions, and the delivery of information and research services, it also includes management of the newest legal innovation group, IncuBaker, focused on the integration of three major advancements: blockchain technology, artificial intelligence, and advanced analytics. Katherine obtained her bachelor’s degree in Political Science from Stetson University and her law degree from the University of Dayton School of Law.
The below article “Combining Innovation & Technology for Real Change” by Katherine Lowry was reposted with permission from AALL Spectrum, Volume 23, Number 3 (January/February 2019), pgs. 30-32.
Setting the Foundation
Technology is often referred to as an innovation, but most agree that just buying technology, such as new AI-enabled software, may only serve as a Band-Aid to a problem or make matters worse. Real innovation happens when the underlying processes are examined and transformative new ways of solving a problem or creating a new service are identified. Either way, selecting technology as a solution comes later in the process.
Innovation appears to be all the rage these days, but many already believe it is an overused term. Arguably, many are getting lost in the semantics. The real question is whether the legal industry is a legacy industry so addicted to the benefits of its legacy
that it inhibits its ability to innovate and adapt. In examining the role of innovation, there is no better place to start than to reflect on the teachings of economist Joseph Schumpeter. He promoted the term “creative destruction” to describe a theory of economic innovation in which technology and innovation replace older means of production/services—one where innovation can replace or completely displace
existing companies or entire markets. Thus, either innovate on a daily basis or run the risk of becoming obsolete. In his book Capitalism, Socialism, and Democracy, Schumpeter declares:
The opening up of new markets, foreign or domestic, and the organizational development from craft shop and factory to such concerns as U.S. Steel illustrate the same process of industrial mutation … that incessantly revolutionizes the economic
structure from within, incessantly destroying the old one, incessantly creating a new one. This process of Creative Destruction is the essential fact about capitalism.
Schumpeter placed a heavy emphasis on entrepreneurs and their ability to create a new good or service, a new production technique, or open a completely new market. Entrepreneurs are a main catalyst for change that causes the most disruption by modifying our current process for delivering goods and services or by creating entirely new services. Change is constant under the creative destruction model and culture is a main component to change. Both are viewed as being critical to economic growth. Continue reading