We appear to be entering the era of 5th generation law (analogue, 1st gen technology, new business models, digital and now AI). We are now seeing the explosive growth of ChatGPT4 and Generative AI. ChatGPT is already one of the fastest adopted technologies of all time with the take up being 100 million users within two months and around 1.2 billion users by March 2023.
Read MoreAt the risk of stating the obvious Microsoft 365 is gaining huge momentum. It now has in excess of 345 million users. The last reported turnover for Microsoft for the 12 months ending 31 December 2022 is $204.094 billion with $139.110 billion gross profit. As many are discovering it also has huge capability: the Power Platform, embedded AI, Yammer, Digital Dictation, Power BI but to mention a few.
Read More31st Dec 2022 marked 1013 days since lockdown was announced. Little did we know that lockdown would only be the start of several years of macro-economic events.
Read MoreAnd so we may be on the cusp of a recession.
Recent stats are indicating that we may not be there yet. They are showing more optimism with inflation being more under control but even the most upbeat of us would struggle to deny the overall direction of travel. A recent eminent economist put it well: “From an economic perspective the UK has a tough 18 months ahead”.
Read More2023 could be destined to become the most interesting year for Legal Tech.
In the UK it feels like lock down is a distant memory. By the 31st December 2022 it will have been over one thousand day since lock down was announced. Professional Services firms, despite some initial turbulence have both survived and thrived.
Read MoreI recently found myself speaking to a builder. They were feeding back on the way that the current economy was affecting them but also on a recent experience with lawyers. There were the inevitable jokes about who was most expensive and cost overruns, but some more interesting themes emerged too.
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