We all agree that knowledge management is critical.
But, even if we are generally disappointed or even frustrated on the way it is organized, we tend to leave it “as is”, not being ready to spend time on something expected to absorb energy and money without any clear view on final results.
Now, with new technology, this should be an old story: you can effortlessly and in a few hours only, empower your knowledge management, and bring it to a true next level by creating a totally new experience for all your teams.
At EisphorIA, we have a best-in-class solution for that. Let’s discover how.
About Knowledge Management
Before diving into technology, let’s recall what is knowledge management (KM) and why it is so crucial.
KM is classically defined as “a business process that formalizes the management and use of an enterprise’s intellectual assets. KM promotes a collaborative and integrative approach to the creation, capture, organization, access and use of information assets, including the tacit, uncaptured knowledge of people”
The objectives of KM are multiple, a.o., enable an organization to be more effective, allow people to have clear and common understanding, ensure the access to complete and accurate information when needed, at any given point in time, secure the resilience of formal and informal know-how, emulate the collective intelligence, etc.
KM is hence transversal to any organization and definitively multidimensional going far beyond a simple storage of organized data. It is obviously critical, especially in industries – like legal – where know-how is a key success factor.
For law firms, an efficient organization at that level – and particularly in relation to data collected and produced overtime can be a clear differentiator and provide a true competitive edge. Indeed, it means (1) time and quality efficiency, (2) smarter collective intelligence, (3) resilience to turnover, etc.
“Improved Knowledge Management is something that everyone is chasing after, but nobody has ever seen”
A Loch Ness Monster
Over the last few weeks, we held multiple discussions with law firms regarding their in-house knowledge base and even if its importance is undoubtful and it is recognized as a goldmine, we have also noticed that:
- KM tools rely on outdated technologies and, for most of them, (1) do not integrate true AI, notably at levels of knowledge classification, search engine or analysis functions, (2) only rely on minimal portion of content (tags of words inside a document at best, keywords at worst) and (3) are lacking the possibility to retrieve information written in a different language.
- KM tools rely too much on operational teams in terms of storing, tagging, etc which are generally missing time to contribute adequately, being naturally focused on clients.
- KM tools insufficiently emulate interaction between team members.
There is clearly an open-window for improvements. The issue is that most law firms tend to postpone actions, fearing a time-consuming process, and high cost in terms of energy and money without clear end-result visibility. Improved knowledge management sometimes appears to be a kind of Loch Ness monster: “something that everyone is chasing after, but nobody has ever seen”.
But now easier to raise it to a totally new level thanks to advanced technology
Technology, especially AI developments occurring in 2018-19, can drastically change this landscape in a blink of an eye. The developed solutions since then are indeed answering most of law firms’ concerns.
To speak about EisphorIA, law firms can see their knowledge base brought to an astonishing new level in a few hours only, without any configuration efforts and with full respect of their specific IT environment. We can indeed either deploy our solution directly to any knowledge data set or connect it to your existing knowledge management system and drastically transform the user experience. We are doing this based on our unique approach and technology (for further details, click here).
List of instant upgrades resulting from our solution is long, a.o.:
- An automated processing of documents allowing to (1) access their entire content and (2) classify documents into clusters based on their common features.
- A world-class contextual search engine allowing to (1) discover quickly the critical information and the links between documents, (2) broaden the search to different languages thanks to an embedded in-house translation module, (3) identify rapidly the most critical section of the documents.
- An easy-to-use interface (1) replicating some social networks UX design techniques for quick adoption and (2) going straight to the essential (no trash features).
- A promoted collaboration inside the platform which allows to (1) stimulate the collective intelligence and (2) ensure an optimal resilience of know-how.
No dreams, just facts! AI technology is more than ever a game-changer for KM. And, if you want to discuss more about this, or see it in action through a pilot, please contact us.