Reposted from the October 2017 issue of Practice Innovations with permission from Jean O’Grady, Senior Director of Research, Information & Knowledge Management Services at DLA Piper. Her blog is available at https://www.deweybstrategic.com/.
This past July, The American Lawyer published its first rebranded annual Survey of Law Firm Knowledge Management, Library, and Research Professionals. It focused on the rise of the chief knowledge officer (CKO). The main article is titled, “Law Librarian? Try Chief Knowledge Officer.” Another article is called, “From Providing Data to Providing Insight.” Both articles focused on the emergence of information professionals as CKOs.
Knowledge professionals assess a complex ecosystem of emerging tools that offer artificial intelligence and analytics. The market is full of new products that offer law firms “magic bullet” solutions which promise to deliver a competitive advantage, streamlined workflow, or game-changing insights. They are on the front line of a workflow-and-intelligence revolution, and bring their experience and expertise to the challenge of marrying external and internal content with algorithms and curated data. New knowledge and intelligence responsibilities include competitive intelligence, legal project management, lateral partner due diligence, pricing, and pitching, as well as the development of client facing solutions. Traditional responsibilities include knowledge database management, portal development, and enterprise search.
If law firms expect to thrive in this hyper-competitive legal market, the person responsible for matching products and data to business problems should have a seat at the strategy table. The American Lawyer article suggests the obvious conclusion: those firms without a CKO will be at a disadvantage. Continue reading