Reposted with permission from AALL Spectrum, Volume 27, Number 1 (September/October 2022), pgs 14-16.
By Katherine M. Lowry, Director of Practice Services & Head of Incubaker, BakerHostetler
Reimagining the way legal services are provided at BakerHostetler.
If necessity is the mother of invention, then technology is a clear call to action for law firms to innovate. Innovation can take many forms. Here, let’s compare the distinction between optimizing processes inside of law firms and the rise of captive (in-house) alternative legal services providers (ALSPs)— often dubbed New Law. The latter is defined as the building of new legal service delivery models that provide a high degree of client value through process redesign, leveraged technology, and better use of data.
BakerHostetler’s Formation of IncuBaker™
My captive ALSP experience stems from co-founding IncuBaker as a legal tech research and development (R&D) team in 2015. By 2018, it evolved into a thriving legal tech consulting team—a captive ALSP. In the early stages, years before forming the team, we gathered data across a variety of industries and identified the tangible impact of emerging technology as an impending tidal wave of change headed straight for the legal industry. As we sought opportunities to engage with and evaluate technology vendors, we quickly identified a common theme: the importance of machine learning and using algorithms to predict outcomes across areas like research, contracts, client churn, and business development initiatives. Exploring solutions built on machine learning and building tactical expertise was key to us. We wanted to provide substantive and factual evidence on how technology was shaping the legal landscape. We aimed to be the voice of reason in the market—not simply another publicity-seeking company.Continue reading