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Price of Technology

The legal technology market is booming! Investments in legal technology, by some estimates, were valued at over one billion dollars in both 2018 and 2019, resulting in an explosion of new legal technology products. In our roles as legal technologists, evaluators of legal technologies and ultimately, purchasers of legal technology, we have seen hundreds of new and emerging legal products that promise “digital transformation.”

In this crowded and competitive field, the primary sign of success of a product is its rapid use and adoption. However, something so obvious as lawyer adoption remains elusive and is a popular topic of debate amongst law firms and vendors alike. One recent article suggests law firms still struggle with adoption of its existing tools let alone new ones.

Typically, lack of adoption is commonly attributed to lawyers who are loath to change their traditional ways of working and reluctant to adopt new technology. Is it that lawyers are hesitant to adopt new technologies? Or, is it the proliferation of so many, new, constantly changing, and overly complex products that makes broad adoption by attorneys a remote possibility?

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