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The next phase of AI, already underway, will integrate text with vision, sound, motion and even touch. This will produce systems that no longer ‘read about’ the world but perceive it.

Where once many law firm owners remained technology sceptics, a growing number are now shaped by leaders who are digitally fluent and commercially oriented.

If law firms view lock-up, cash flow and billing processes as key indicators of financial performance – and therefore risk – they can identify problems early.