Sandbox… Toolbox… Flowerbox…. those are three words the legal profession doesn’t use often, but soon will. They describe the right ways to explore cutting edge technologies and turn them into substantive new competencies.
Here’s a quick explanation…
Sandbox: bring a new technology into your firm and play around with it. Experiment. See if it can add value to your clients, speed up your processes, lower your costs, or expand your capabilities.
Toolbox: take the innovations that prove themselves, and use to serve your clients. In doing so, expand your capabilities and the value you provide.
Flowerbox: now showcase what you can do, because you’ll be way ahead of the field. Be factual, but don’t be shy… because you’ll be changing the ways that the legal profession operates.
By the way, this is what a new breed of Chief Innovation Officers (CINOs) should be doing. Here’s a very nice image that highlights many of the new AI technology players serving the legal industry.