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What Does the Big 4’s Legal Tech Push Mean for Law Firms?
By Frank Ready, Legaltech News, February 26, 2019
This post has been viewed 2,759 times.
This post has been viewed 2,759 times.
As the Big 4 accounting companies are starting to invest more heavily in legal tech, will law firms need to stay on their toes to remain relevant?
The race to legal tech is certainly picking up speed. News broke earlier this week that the accounting firm of EY had inked a deal to begin using AI contract review platform Luminance inside of its global legal network, making it the third of the Big 4 accounting firms to adopt the legal machine learning platform.
“With three of the Big Four accountancy firms now using Luminance, we are witnessing a seismic shift in the legal landscape as law firms need to innovate to keep pace,” said Emily Foges, CEO of Luminance.
He considers the legal managed services aspect of EY’s business to be different from the track taken by traditional law firms, which Grossmann characterized as operating in the “high-end legal advice” domain.
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