Here's a fascinating report from Reuters on the emerging technologies and vendors seeking to help tackle the spread of out-of-control drones – there are already 100 startups dedicated to anti-drone tech.
Earlier this week the UK Minister of State for Digital & Culture Matt Hancock said Israel was ripe for creating disruption in the global law profession at an inaugural legal tech event held in Tel Aviv.
The RT Hon Matt Hancock in his second visit this year to the “startup nation” hosted a roundtable of leading Israeli players in the emerging Legal Tech industry on Tuesday night hosted by Barclays (20 December). The Minister said the UK legal profession was notoriously slow to change, but that the potential of technology - from the UK or abroad - to transform the industry was inevitable “as every other industry has been disrupted”.
The inaugural UK-Israel Tech Initiative involved an intimate discussion on the future of law and technology bringing together: Minister for Digital and Culture Matt Hancock, British Ambassador to Israel David Quarrey, Ilan Admon CTO and Co-Founder of AI contract review and negotiation software LawGeex, Noory Bechor, CEO of LawGeex (and former corporate lawyer at Meitar Liquornik Geva & Leshem Brandwein), Len Rosen CEO Barclays Capital Israel, Professor Niva Elkin Koren, Director Haifa Center for Law and Technology, Jeremy Lustman, Partner and head of DLA Piper’s Israel Country Group, Zohar Fisher of the Tech and Law community in Israel, Yoram HaCohen, President of the Israeli Internet Association, and Michael Goren-Miller, Legal Advisor to Digital Israel.
CEO of LawGeex Noory Bechor said: “We are one of a number of firms revolutionizing the legal world through innovative technology. Using the latest advances in AI, our contract review and negotiation platform allows lawyers to automatically review and approve standard contracts at a speed and scale that humans cannot achieve. This frees up lawyers’ time to focus on deep and more complex advice to clients.”
Ilan Admon, CTO of LawGeex, added: “It was an extremely frank and open discussion and a great honor that the Minister came to Israel to learn about the best technology and the future for disruption in the legal market.”
RT Honourable Matt Hancock said: “I admire the tenacity and drive of the Israeli tech community. Of all the places we have to compete to be the best place to set up the leading tech firms, we have one really difficult competitor in Israel and that is why I come here so often, to find out what you are up to.”
Picture Noory Bechor CEO of LawGeex with RT Honourable Matt Hancock - we'll leave you to guess who is the startup techie and who is the government minister.
COMMENT: Well good news for LawGeex but hello minister, shouldn't you be promoting the UK legal tech startup scene?
A commercial cartoonist I follow – Tom Fishburne aka The Marketoonist – recently published a post on the concept of the Creator's Code. (This was devised by Hiut Denim & David Hieatt – here's a link to Tom's post + see graphic)
The aspects that interest me the most are
Point #5: Chase the work, not the money. The money will come in time.
And Point #9: There are no short cuts. Do the work! (If I was being picky I'd also amend #10 to read Great Green Tea Helps.)
But seriously... Points #5 and #9 are the ones most people get wrong – and in the case of #5 usually get the wrong way around and focus entirely on chasing the money.
In both instances the killer factor is short-termism aka instant gratification – unrealistic expectations – looking to make a quick buck.
I've seen this with magazine and website publishers (I've been the launch editor of a number of titles) and software businesses/startups. Let me explain...
With publishing, the way you shouldapproach a new magazine launch is to focus on generating insanely great content – which will then attract readers. And this in turn attract advertisers and their money.
Sadly too many publishers approach the project from the opposite direction: "Oh look, here's an industry niche with an untapped marketing budget, let's get ourselves a slice!"
So they fill the zine or site with advertorial (sponsored copy or whatever else they want to call their pay-to-play model) that keeps the advertisers happy – and they will certainly never dare run stories remotely critical of their advertisers.
But then they are surprised when nobody reads the publication (readers aren't stupid) and they subsequently lose the advertisers. Add in the way many publishers set unrealistic targets for new publications and 12 months later you see the publication being quietly buried.
With software companies the situation arises when they are trying to expand into new market but, once again, they want to do it in a hurry. So, they spend a shedload of money on advertising (usually in the wrong places) and sponsoring events (usually the wrong events) and then are surprised to discover, 12 months later, that they are not market leaders. Like unsuccessful publishers, they then pack their tents and slink away into the desert.
With startups, the problem is usually outside investors who have unrealistic expectations that the business is going to be The Next Big Thing and pull the financial plug before it ever has been given a proper chance to thrive and succeed.
These are all long-term commitments. There are no short-cuts, you have to do the groundwork. You have to get the basics right and then you will reap the financial rewards.
Anything else is folly. Short-termism is the enemy of creative innovation and promise.
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