INSIGHTS

Advanced application of legal technology is changing what it means to be a lawyer. Crowd & Co is using technology to drive #futurelaw. Here we keep you updated with our thoughts on this fascinating industry, and some tips on how to thrive in it.

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Using Industry 4.0 to benefit yourself [and your clients]

In our recent blog The Smart Factory: Welcome to Industry 4.0 we discussed the Fourth Industrial Revolution, that being digital technology of previously unimagined power, scope and accuracy. It continues to revolutionise agriculture, industry, manufacturing, business, the professions and all aspects of communication and personal interaction.

So how can we use Industry 4.0 to benefit ourselves, our clients and more generally, the industry?

1. For Betterment
Every business person, from tradie to technician, barista to barrister seeks to provide better service, product and pricing for customers and clients. Everyone wants better personal communication with others. Digitalisation of technology, devices, systems and software offers all this and more, including:

  • Reliable, direct, global communication on a range of devices and smartphones e.g. messaging and chatbots
  • Speed, agility and machine learning critical to implement ideas and complete tasks promptly e.g. using artificial intelligence to review contracts
  • Immediate access to unlimited research, information, ideas, opinions and data bases e.g. automated reports and analysis
  • Ability to consult or cross-reference with peers, mentors, associates, customers and clients e.g. using online communities to collaborate
  • Using algorithms to increase efficiencies e.g. access to data and insights to better manage your legal spend

2. To Gain Efficiencies
Critical to the operation of any type of business is the need for efficiencies. This means monitoring your firm’s operations and systems. Digitalisation of technology has allowed quick, accurate, reliable and portable systems, devices or apps to do this. Digital technologies can:

  • Manage diary, files, time and costs for greater efficiency
  • Identify and alert you to problems or delays in product or services
  • Monitor stock, whether supply side, retail or office consumables
  • Offer you Apps for reminders, appointments, moods, plagiarism, meditation, takeaway food – you name it, it’s available

3. To Get in the Cloud
The bane of any business or profession is records storage. It can be costly, time consuming, space demanding drudgery. Some of us might remember filing clerks, librarians, file or case managers. More might remember facsimiles and micro-fiche. Today the paperless office is at our fingertips. Storage is on data file, on disc, on back-up or using cloud technology. Minimal cost, no effort, instantly retrievable. Digitalisation of this one aspect makes it all worthwhile.

4. To Move Forward into the Future
It's time to think about the advantages of implementing a strategy to move forward with digitalisation. Some advantages include:

  • An easier, secure, reliable, less stressful and more profitable workplace
  • Improved staff relations, job creation, training and skills – all shared
  • Flexible working environments offering you better work/life balance, increased employee satisfaction
  • More time for thinking, self-improvement, relaxation and social engagement

Your future is digital - grab it with both hands and don’t look back.

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