The parallels between the commencement, and subsequent value, of automation in financial markets, and the potential to revolutionize legal practice, are an intense beacon to any who have made the transition and are beginning the planned transformation to newlaw. The point about efficient business management through automation, leading to greater time spend on "high touch" effort is well made. For those not familiar with high touch and low touch in business (and financial markets) terms, it is as it sounds (once you get past "fear of jargon" - FOJ or FoLS by asking) and listen to the language. The terms describe the contrast between lots of interaction with things (documents and processes - ideally digital, and people) and little or none. Also, the lesson that "bad data leads to bad decisions" will be hard learned by legal practices, unless listening to those who have been there before. But it should be quite a ride, and one to which we all look forward.
The buy-side are looking to manage their business more efficiently than ever before and spend more time on orders that require high touch input.