Allen & Overy has opened the applications for the seventh edition of its legaltech innovation hub, Fuse. Tech companies, regardless of their development or location, working in areas applicable to A&O’s lawyers and/or clients can apply until 6 February 2023.
In the past two years, the demand and use of technology in the provision of legal services have seen a sharp increase. While in 2020, 41% of clients reported asked law firms to describe the tech they use, in 2022 that figure was already 70% and by 2025 it is expected to hit 97%.
Fuse, A&O’s tech innovation hub, aims to cater to this rising demand in legaltech by bringing together A&O lawyers, clients and a curated group of technology companies to explore, develop and implement digital change.
“Cohort members have access to the global network of A&O lawyers, clients and other industry contacts, allowing them to grow their network, gain credibility and opportunities to make sales and identify new use cases,” “explains Shruti Ajitsaria, partner at A&O and head of Fuse.
Since its inception in 2017, Fuse has hosted more than 50 companies and welcomed over 10 000 external visitors to its specially designed innovation space.
“Since Fuse first opened its doors, we have seen our lawyers working enthusiastically with our cohort members to find new solutions to old problems. We have also seen an increase in demand from clients for us to better understand and support their digital strategies across their business as a whole,” said Shruti Ajitsaria, partner and head of Fuse.
Importantly, Fuse also facilitates real-life piloting of legaltech products by A&O lawyers, thereby giving businesses not only direct feedback but also “an opportunity to be licenced for use by A&O”. Since recording legaltech usage at the beginning of 2018, the number of A&O lawyers benefitting from these technologies has risen by 300%, with over 1200 lawyers using nine applications in 2022.
Selected cohorts commence in early May and continue for 6-9 months, with time commitments varying from 4-8 hours per week of introductions during busy periods, to 1 hour a week or less during quieter periods.
There are two application streams – a legaltech stream open to any company and one stream chosen from nominations from A&O clients. To read more about Fuse and apply, see here.
