Baker McKenzie today announced a global innovation program to address changing client needs, new industry dynamics, and the broader role of digitization across the economy according to a report in Legal Support Network.
They write
A newly formed Innovation Committee will report to the Firm’s Executive Committee and ensure a Firm-wide approach to innovation is incorporated into every aspect of the business’s global operations.
The Innovation Committee will be led by EC member, Erik Scheer and Global Director of Operations, Jason Marty.
This transformation process is being brought to life with the help of Peer Insight, the Washington, DC-based consultancy known for applying Design Thinking to services and business models. The collaboration will see the world’s most international law firm work with an admired boutique consultancy to create and deploy a global innovation operating model. The scope includes initial projects to reinvent multiple practice areas and take bold steps to address long-term business changes.
Applying Design Thinking to client service will challenge the legal industry’s traditional capabilities-focused approach. Baker McKenzie’s innovation program will extend well beyond introducing new technology or other solutions and will start from and hinge around client challenges.
The Firm’s innovation framework is divided into multiple areas for investment, including:
Machine learning
Applying current Artificial Intelligence tools for due diligence, contracts, e-discovery and any practice for which such technologies can ensure market-leading efficiency. The Firm has deployed Relativity as its global e-Discovery platform to provide a common platform for clients worldwide and is in the process of doing the same for machine-learning based due diligence software to dramatically reduce lawyer time on transactions.
Services transformation
Using the methods from Design Thinking to re-shape all aspects of the Firm’s client services and the business models necessary to support them. Work with Peer Insight has begun on a ground-up review of a headline practice, focused around new ways to meet big common challenges faced by clients.
Technology investments
Longer-term investments in advanced technologies and data management to prepare for significant changes these will bring to the industry. A task force has already met with VCs, start-ups, and industry players and will be driving an investment strategy in emerging technology.
“Our Firm has a proud history of innovation. We need to create an environment where fresh ideas are encouraged and established ways of doing work are challenged.” Paul Rawlinson, global chair of Baker McKenzie
Comprised of partners across a range of Practice Groups, the Committee of global and multi-jurisdictional Innovation ‘Architects’ will bring ideas together and deliver tangible solutions for the Firm’s clients and people. The team will ensure that innovation remains top of the agenda as a key component of the Firm’s long-term strategy.
Erik Scheer, Executive Committee member, explains: “Baker McKenzie has been at the forefront of innovation within the legal sector since our founding in 1949. We were the original global law firm, in fact for many years the only global law firm, the pioneers at entering new markets and disrupting traditional legal markets.
“And today, Innovation is top of our agenda. Why? Because it matters to our clients and because we believe the legal sector is ripe for change. Being a good lawyer is no longer enough. These are uncertain times for our global clients, in an increasingly complex world, in an industry facing disruption.
“We need to re-design how we deliver legal advice in a way that makes sense for our clients. Our Innovation framework enables us to do exactly that.”
