Link: IBM Report on "Media's Mean Streets". This IBM report paints a portrait of disruption about to be visited upon the media industry. While most observers of the legal industry might find little, if any, parallels, I am not among those. The enabling technologies and devices that will wreak havoc on the media industry will also have transformational effects on other industries, including the legal industry. Why? Because the changes signaled by the report are manifested by changes in consumer behaviors, what they expect and what they will pay attention to.
These same consumers will eventually, many of them, be in the market for legal services. Consider how they are likely to respond to firms that are not prepared to communicate with them in the manner to which they are accustomed. Can't happen you say because the legal industry is so much different than other industries? It is precisely this cavalier attitude that will prevent many incumbents (i.e. big law) from "seizing the day." They will be slow to act as the ground around them starts to shift, creating opportunities for some "new kids on block."
Stay tuned...
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