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Strategies for gathering and harnessing knowledge have existed in
law firms for decades. However, knowledge management suddenly found
itself in the spotlight as a result of the COVID-19 pandemic.
Enforced remote working reduced opportunities for knowledge sharing
between colleagues and this gap was filled with knowledge databases
and experienced knowledge lawyers. Now that hybrid and virtual
workforces are here to stay, these new working practices have
combined with technological developments, enhanced demand, and the
transformation of how to access knowledge to drive the advancement
of knowledge management into a new era. Knowledge Management in Law
Firms: Challenges and Opportunities Post-Pandemic is the essential
guide to the evolution of law firm knowledge management. It covers
how to revisit your strategy in light of recent and future changes,
the expansion of knowledge management to encompass legal tech and
innovation, the rise of the importance of data, strategies for
overcoming the challenges hybrid and virtual working pose to
knowledge management, managing knowledge teams, and much more.
Chapters are written by an international group of KM experts from a
range of organisations and leading law firms, including DLA Piper,
Linklaters, and Dentons. Pandemic experiences and lessons learnt
are shared as well as ways to approach the future. Knowledge is at
the heart of the legal profession, and this book provides guidance
on how to prepare for and thrive in the knowledge management
practices of the future, overcoming the obstacles and embracing the
opportunities that have arisen from or been accelerated by the
pandemic. Through demonstrating how effective knowledge management
can help firms exceed client expectations, differentiate themselves
in the competitive market, and, ultimately, improve their bottom
line, this title will be of interest to knowledge management
professionals including professional support lawyers, law firm
leaders, partners and fee earners, and, outside of law firms,
in-house lawyers and consultants.
The discipline of knowledge management (KM) continues to evolve
along with our ability to record larger and more varied kinds of
information than ever before. Since its inception in the 1990s, it
has passed through several stages, quickly becoming a credible
field, and now an integral part of major businesses worldwide. Now,
many have started to argue that KM is undergoing resurgence,
possibly even transforming into KM 3.0, thanks to developments in
artificial intelligence (AI). And, while AI has been around for
many years, it has become a buzzword in the industry as questions
loom over what it could mean for the labor market of the future.
Adoption has been relatively slow in the legal profession, owing in
part to its conservative nature, individual-focused training and no
real incentive to overhaul the hourly billing model1. When in-house
legal teams can exceed 1,000 people, sharing and reusing knowledge
can easily become inefficient, with counsel often needlessly paying
for the same research twice. Global intelligence software leader
Comintelli estimates that $8.5 billion per year is lost between
Fortune 500 companies alone on poor KM2, up from $31.5 billion in
20043, suggesting a recent rise in the number of firms embracing
the concept. Despite this, there are still challenges posed to the
legal world, and sharing insight is more vital than ever, not only
within companies but between them. Innovations in Legal KM explores
the endeavors of various legal firms - the problems they have
faced, and the solutions they have developed - to improve their KM
processes, and, ultimately, their bottom line.
An Accumulation Of My Works From Several Years Ago.
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