Fringe Legal

Abhijat Saraswat
Fringe Legal

The Fringe Legal Podcast is a collection of conversations with legal innovators on how to put ideas into practice. Each episode is a discussion with a change-maker who shares their ideas, insights, and lessons from their journey.

  1. 2월 14일

    Law Firm Revenue Management with Ayora.ai - The $36 Billion Opportunity

    In this episode of the Fringe Legal podcast, host Ab interviews Stefan Ciesla, the co-founder and CEO of Ayora ai, a startup that focuses on helping law firms manage their revenues and improve the revenue management skills of fee earners such as attorneys and lawyers. Steven discusses the problem Ayora is solving in the legal industry and the role of lawyers as revenue managers. He explains that fee earners often have to make revenue management decisions throughout a matter's lifecycle, but they may not have the necessary skills or focus on revenue management. Ayora's smart lockup assistant helps fee earners by scanning a firm's data related to matters and providing recommendations on monitoring scope, estimates, budgets, resourcing, outside counsel guidelines, and billing. The assistant pre-drafts emails and provides relevant information to make the decision-making process easier and more efficient. Steven also addresses the challenge of balancing AI and machine learning with human control and building trust in the recommendations made. He emphasizes that Ayora prioritizes transparency and user consent and never takes any action without the attorney's knowledge. Key takeaways: Fee earners in law firms, such as attorneys and lawyers, often need to make revenue management decisions throughout a matter's lifecycle but may not have the necessary skills or focus on revenue management.Ayora's smart lockup assistant helps fee earners monitor scope, estimates, budgets, resourcing, outside counsel guidelines, and billing, providing recommendations and pre-drafting emails to make decision-making easier and more efficient.Ayora prioritizes transparency and user consent, ensuring that attorneys have control over the recommendations made by the system.Uncommon learning The legal industry may be missing out on billions of dollars of additional value due to suboptimal revenue management decisions. Podcast show notes 00:02 Introduction to the Fringe Legal Podcast 00:29 Guest Introduction: Stefan Ciesla, Co-founder and CEO of Ayora 00:58 Steven's Background and Ayora's Founding Team 02:07 The Unique Blend of Ayora's Founding Team 02:55 Understanding Ayora's Mission and Purpose 04:24 The Role of Lawyers as Revenue Managers 04:43 The Impact of Decision-Making on Revenue Management 08:28 Introducing Ayora's Smart Lockup Assistant 20:20 The Role of AI and Machine Learning in Decision-Making 27:05 The Impact of Fixed Fee Work on Revenue Management 30:12 Conclusion and Contact Information

    33분
  2. 1월 16일

    Building a tech-enabled culture in law firms

    In this episode of the Fringe Legal podcast, host Ab chats with Conan Hines, Director of Legal Technology at Fried Frank, about building a tech-enabled culture in law firms. Conan shares insights from his previous roles at Clifford Chance and other law firms, highlighting the importance of understanding the role of legal technology and the psychology and behavior of users when it comes to successful adoption and change management. Conan emphasizes the need for building trust with lawyers and finding those who are curious and open to tech-enabled solutions. He suggests starting small with bite-sized engagements to build trust over time. He also discusses the value of creating a foundation for tech adoption and balancing short-term impact with long-term goals. The conversation delves into the role of vendors in adoption, with Conan highlighting the need for a strong partnership and a transparent framework for success. He stresses the importance of vendors having a real adoption strategy and sharing learnings from what has worked in the past. Ab and Conan also discuss the challenge of incentives and tracking adoption. They explore the idea of integrating technology training into legal training to emphasize the value and importance of tech skills for lawyers. Ultimately, the key to successful adoption and building a tech-enabled culture in law firms lies in trust, continuous communication, and demonstrating the value of technology. Key takeaways: Building a tech-enabled culture requires understanding the role of legal technology and the psychology and behavior of users.Trust is essential for successful adoption. Lawyers need to believe that tech solutions can help them.Adoption plans should be simplified and tailored to individual users.Integration of technology training into legal training can help emphasize the value of tech skills for lawyers.Vendors should have a strong adoption strategy and share learnings from past successes.Uncommon learning: Tech adoption requires a partnership between law firms and vendors, with a focus on transparency and continuous communication.

    34분
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The Fringe Legal Podcast is a collection of conversations with legal innovators on how to put ideas into practice. Each episode is a discussion with a change-maker who shares their ideas, insights, and lessons from their journey.

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