Speaking ahead of Lawyers Weekly’s inaugural Future Forum, James O’Loghlin, host of The New Inventors, said in a period of unprecedented upheaval like the legal profession is facing now, maintaining a clear focus on what could be done more efficiently is of paramount importance.
“For a long time the legal profession operated pretty much the same way. There was change, but it was gradual and manageable,” he said.
“Now, change is permanent and rapid. Clients' expectations are increasing, new technologies and outsourcing [are creating] new opportunities.
“Even if you are doing things as well as you can today, that probably isn’t going to be good enough in few years’ time. We all need to examine what we do and think of ways of doing it better.”
Mr O’Loghlin said it’s crucial for legal professionals to constantly experiment with innovative strategies, noting that this pays off in spades.
“There is only one benefit to having an innovation strategy and that is to improve the way an organisation operates,” he said.
“Innovation always begins the same way – with someone having an idea. Unfortunately, people often don’t think that having new ideas to improve the way that their organisation runs is part of their job.
“An innovation strategy should focus on harvesting new ideas from everyone in an organisation, and then efficiently growing, assessing and trialling those ideas to find the ones that are going to make or save the firm money.”
Mr O’Loghlin suggested that law firms are often their own worst enemies when it comes to implementing innovation strategies.