Tag Archives: Haistack.AI

Revolutionizing Legal Talent Acquisition with AI: The haistack.ai Advantage

Gone are the days when legal recruitment was bogged down by inefficiency and bias. Enter haistack.ai: a beacon of innovation that leverages artificial intelligence to redefine how law firms identify and engage with top legal talent. This platform, powered by the latest in AI technology, complements traditional methods by offering unparalleled precision and speed, enhancing the capabilities of human recruiters and setting a new standard in legal recruitment efficiency.

A New Era of Recruitment: Efficiency Meets Accuracy

The traditional landscape of legal recruitment, characterized by manual sorting and inherent biases, is undergoing a profound transformation. AI technologies, particularly those specialized in recruitment, are setting new standards for identifying candidates. These advanced algorithms are not just tools but game-changers, capable of analyzing vast datasets to find the perfect match between law firms and potential hires.

haistack.ai leads this charge by leveraging its unique, data-driven approach. Thanks to its parent company, Lateral Link’s, deep industry insights, haistack.ai is not just another recruitment tool but a revolutionary platform that ensures optimal alignment between candidates and law firms, thus streamlining the recruitment pipeline like never before.

The haistack.ai Methodology: Intelligence in Action

At the core of haistack.ai‘s success is its methodical, four-step process that harnesses the power of AI at every turn. Starting with an extensive data collection phase, the platform compiles an unmatched database of attorney profiles, firm requirements, and open positions, laying the groundwork for a comprehensive recruitment network.

The real magic happens when haistack.ai applies its advanced algorithms during the data analysis phase. By uncovering deep connections between potential hires and firms, it facilitates targeted communications and strategic connections that were previously unimaginable.

What sets haistack.ai apart is its reliance on machine learning technologies. These aren’t your standard matching algorithms; they’re dynamic, learning from each placement to refine and enhance future recommendations. This continuous improvement cycle ensures that haistack.ai remains at the forefront of recruitment technology, delivering unmatched accuracy in candidate selection.

In its final phase, haistack.ai doesn’t just list candidates; it provides a detailed justification for each recommendation, backed by solid data analysis. This transparency and insight into the decision-making process add an extra layer of trust and reliability to its services.

Embracing the Future with haistack.ai

As haistack.ai demonstrates, the future of legal recruitment lies in embracing AI’s potential to transform traditional practices. This platform exemplifies the shift towards a more efficient, accurate, and unbiased recruitment process, setting a new standard for how law firms approach talent acquisition.

By integrating haistack.ai into their recruitment strategy, law firms can not only expedite the hiring process but also ensure they are connecting with the most compatible candidates. It’s an invitation to be at the forefront of recruitment innovation, where data-driven decisions lead to better hires and a more dynamic legal workforce.

Are you ready to experience the unparalleled efficiency and precision that haistack.ai brings to legal recruitment? Why wait to transform your talent acquisition strategy? Contact us today to schedule your demo and see firsthand how our AI-driven platform can revolutionize your recruitment process.

2024 Legal Industry Outlook: Strategic Transformations and Emerging Opportunities

The year 2024 marks a pivotal era for the legal industry, characterized by rapid technological advancements and significant shifts in legal practices. These developments are reshaping the landscape, and introducing new challenges and opportunities for legal professionals and firms.

“As we step into 2024, we’re witnessing a seismic shift in the legal sector, propelled by cutting-edge technologies and a redefinition of legal practice. This evolution is not just a trend but a fundamental transformation, dictating new paradigms in how legal services are delivered and managed,” remarks Lateral Link Director, Ashleigh Goldberg

  • The Influence of AI and GenAI in Legal Operations

Michael Heise, haistack.ai CTO: “In 2024, the greatest AI influence in the legal industry will continue to be Large Language Models (LLMs). In 2023, tools like ChatGPT showed their power in answering prompts quickly and in different voices and styles. Law firms will look to harness this power with LLMs secured for and designed specifically for their firm. Challenges still lie ahead, like ensuring documents that make up the LLM do not violate ethical wall barriers, but the technology is too transformative to be ignored.”

Analysis: Everlaw predicts significant applications of GenAI in legal practice, with AI technologies automating up to 50% of legal tasks in corporate transactions.

  • ESG and Climate Litigation

Zain Atassi, Principal, Lateral Link Chicago: “2024 will see a rise in ESG litigation, reflecting the growing importance of environmental and social governance in corporate strategies.”

Trend Overview: The PHA Group reports an anticipated surge in ESG-related litigation, driven by increased corporate responsibility and public awareness.

  • Evolving Billing Models and Litigation Funding

Lauren Smith, Principal, Lateral Link Partner Practice Group: “The trend towards alternative fee arrangements is likely to redefine how legal services are delivered as client demands focus more and more on value.” 

Market Insight: The Law Society Gazette highlights a shift towards alternative fee arrangements,  such as flat or fixed fees, with flat fees becoming increasingly popular. Nearly half of all external legal spend in 2023 utilized such models.  While alternative fee arrangements tend to emphasize value over volume, they are most applicable in situations when the work product is predictable.  Alternative billing arrangements do not suit all work, e.g., a litigation that could go in a variety of unpredictable directions.  

  • Cybersecurity Law

Romina Filippou, Senior Director, Lateral Link Northeast: “The rapid evolution of digital threats is making cybersecurity law a critical and growing practice area.”

Industry Perspective: The rise in digital threats and the evolving landscape of internet privacy and data protection laws underscore the growing importance of cybersecurity law.

  • Energy & Natural Resources Law

Susan Agopian, Principal, Lateral Link California: “As the world shifts towards renewable energy, the legal aspects of these resources are becoming more pertinent.”

Sector Analysis: The legal complexities surrounding renewable energy sources, including regulation and innovation, are driving demand for specialized legal expertise.

The legal industry in 2024 is poised for exciting developments, driven by technological innovations and changing market dynamics. Lateral Link, with its team of seasoned recruiters and industry experts, is committed to guiding law firms and legal professionals through these changes, ensuring they remain at the forefront of the industry.

Connect with Lateral Link today to leverage our deep industry knowledge and expertise. Let us help you harness these trends for success in the dynamic legal landscape of 2024.

How to Distinguish Hype Versus Reality Around Artificial Intelligence

With all the hype around Artificial Intelligence (AI), I’m reminded of a time when I was immersed in selling and building cloud solutions in 2009. A technology that was relatively new, “cloud” became the term du jour, finding its way into every offering and presentation. Does that sound familiar? Upon scrutinizing these presentations, it was apparent that the term “Web 2.0” was simply replaced with “Cloud,” previously the next big thing.

To educate potential customers about the cloud, our team developed a punch list of the five characteristics of cloud computing. This list was derived straight from the National Institute of Standards and Technology (NIST) and their definition of cloud computing. If an offering answered no to any of the characteristics, it was not cloud computing.

AI, tracing its roots back to the 1950s, presents a broader and more complex scenario than cloud computing. What we can do is attempt to create our own checklist of characteristics of AI, helping to discern whether a product that claims to be AI truly is.

Defining Artificial Intelligence

AI is fundamentally an emulation of human-like intelligence, with the capability to learn, adapt, and autonomously execute tasks within machine constructs. In essence, it weaves together various fields such as computer science, data analytics, and statistics to develop algorithms capable of mimicking human intellect. The ambition of AI is to create machines that can perceptively learn from experiences, adapt to new inputs, and autonomously perform tasks without human interference.

Mechanics of AI: A Glimpse into Machine and Deep Learning

Machine Learning (ML), a subset of AI, enables computers to refine their operations without explicit programming by learning from data. It uses algorithms to predict future outputs by analyzing historical data, forming a foundation for deep learning (DL).

DL, an intricate branch of ML, leverages artificial neural networks, often modeled to emulate human brain functionalities. These networks contain complex layers of interconnected nodes that meticulously process and transform data. Notably, DL has the ability to autonomously learn and enhance its performance from extensive data inputs, gradually improving its accuracy over time.

Navigating through applications, DL has carved substantial paths in fields such as image recognition, natural language processing, speech recognition, and recommendation systems. This technology permeates various industries, steering the evolution of innovations like self-driving cars, speech-to-text transcription, and personalized recommendation engines.

haistack.ai: Pioneering AI in Legal Recruiting

In the legal recruiting realm, haistack.ai emerges as a notable example of AI application. This AI-driven platform integrates publicly accessible data, esteemed industry legal rankings, and accumulated data from years in the lateral recruiting market, seamlessly matching candidates with premier firms.

haistack.ai, fueled by the aforementioned ML and DL techniques, scrutinizes data, identifying and correlating patterns of successful candidate placements to adeptly match candidates with suitable firms, thereby refining the recruitment process.

The merits of utilizing haistack.ai in legal recruiting are multifold:

  • Efficiency: The platform rapidly sifts through extensive data to pinpoint ideal candidates, rendering the recruitment process proficient.
  • Accuracy: Algorithms correlate patterns in successful candidate placements, ensuring ideal candidates are matched with fitting firms.
  • Diversity and Inclusion: Notably, haistack.ai minimizes bias in legal recruiting, promoting diversity and inclusion by selecting candidates based on skills and experience rather than demographic factors.

An AI Checklist for Authenticity

To discern genuine AI applications, a checklist proves useful:

  • Data: Utilizes extensive data for training and applies learned insights to analyze live data, identifying correlations, patterns, and predictive analytics.
  • Algorithms: Employs algorithms that rely on data training to recognize patterns and make predictions or decisions.
  • Automation: Operates autonomously, acting based on rules or learned knowledge without human intervention.
  • Learning: Modifies results or decisions adaptively in response to changes in underlying data.

If a solution lacks any of these characteristics, it likely falls short of genuine AI.

Artificial Intelligence is a rapidly evolving field with transformative potential across various aspects of our lives and industries. Through its deployment of intricate algorithms designed to eschew bias and optimize legal recruiting, haistack.ai exemplifies the future trajectory of AI in legal spheres, driving efficient, accurate, and inclusive recruitment processes.

Meet the CTO of haistack.ai and creator of Haistack – Law Firm: A Q&A with Michael Heise

Am Law 200 firms will soon have access to an innovative new AI-powered recruiting tool called Haistack – Law Firm. Michael Heise has led development of the product, in partnership with Lateral Link. Ahead of the official launch on September 18, Lateral Link sat down with Mike to talk about the path that led him to develop Haistack – Law Firm.

LL: Let’s start with a quick description of Haistack – Law Firm. Why should firms be interested?

MH: Haistack – Law Firm uses machine learning to identify the best candidates for a specific attorney role. We aggregate publicly available attorney, firm, and law firm job data from across the internet, and we enrich it with proprietary Lateral Link data. From this data, we illustrate connections between a candidate and a firm and estimate the strength of the fit. These connections also suggest the most effective avenues for reaching out to a candidate who has not yet applied. In addition, we show firms which members of their current attorney pool have profiles that are in high demand in the broader lateral market. This enables firms to take affirmative steps to retain the most scarce talent.

LL: You worked for years in software development before you entered the legal field. How did you first get into software? 

MH: I graduated from the University of Maryland in 1997 with a Business Information Systems degree. I was in the Marine Corps Reserves, so I had a connection to the government. I combined those interests by joining a government contractor out of college, writing software. Over the next 15 years, I worked for both government and private sector clients, everything from the State Department to the NASDAQ. That variety was great because I was able to take lessons from one sector and cross-pollinate them into the next. In 2009 I earned my MBA from Maryland with a focus in Entrepreneurship. And then in 2013 I took a full-time software development program manager role with the DC Police Department, where I spent nearly three years.

LL: What do you like best about working in software?

MH: I love making cumbersome processes more efficient. With software you can take a task that previously took days to complete and reduce that time to seconds. I also enjoy solving the puzzles that you confront when writing software. There’s no shortage of hard problems to tackle.

LL: What brought you into the world of law firms?

MH: I was thinking about getting back into the private sector, and in 2016 my wife was a law student, so that made me curious about law firms. I applied for a role at an Am Law 30 firm and spent nearly three years there as an Application Development Manager, followed by three years as a Senior Manager of Software Development at an Am Law 20 firm. Meanwhile, my wife now practices at an Am Law 50 firm, so in a way law has become a family business for us.

LL: What did your time at Am Law firms teach you about their software needs?

MH: First, security and data privacy are critical. Law firms have a reputation for being slow to adopt technology, but it makes sense after you’ve come to appreciate the liability risk of the information they hold. My other big takeaway came from working on system implementations that were 12- or 18-month projects costing millions of dollars. They involved intricate work to export data, massage it, and then import the data into the new system. Those projects reinforced for me the value of turnkey solutions that streamline the user experience. I decided that if I was going to develop software for law firm customers in the future, I would put a premium on making it as turnkey as possible.

LL: And that’s exactly what you’ve done with Haistack – Law Firm, right?

MH: Yes! Users can log in with LinkedIn, Google or Microsoft credentials tied to their firm email. You don’t even have to remember a password. Haistack will recognize which firm you belong to and will automatically display data customized to that firm.

LL: Why were you the perfect person to develop this product?

MH: Certainly I’ve had significant exposure to major law firms, learning not only about their software preferences and constraints but also gaining an understanding of the broader culture. My prior familiarity with the industry is only part of the story. I’ve learned a huge amount about the recruiting process through my collaboration with Lateral Link in developing Haistack – Law Firm. And I’ve had the distinct advantage of being able to draw on 15 years of Lateral Link data. For example, where we know that a firm has considered and rejected a candidate in the past, Haistack is not going to suggest that candidate to the same firm again. So the core strength isn’t just my background, it’s really the complementary assets that have come together to form the Haistack partnership.

In a rapidly evolving legal landscape, the alignment of technology with the intricacies of the legal sector remains pivotal. Michael Heise’s unique journey—from software development in various industries to the heart of law firms—has equipped him to pioneer solutions like Haistack – Law Firm. With its impending launch, Am Law 200 firms are on the cusp of an AI-driven revolution in recruitment. Drawing upon a rich blend of Heise’s software expertise, firsthand insights from top-tier law firms, and the robust data of Lateral Link, Haistack promises to redefine how firms identify, recruit, and retain the brightest legal talents. As law becomes increasingly tech-driven, innovators like Heise are ushering in a new era of efficiency, precision, and excellence.

Legal Tech Meets Recruitment: Navigating Tomorrow’s Legal Landscape

In the evolving world of legal services, the confluence of technology and talent acquisition has revolutionized the very core of operational efficiency. As industry vanguards, we’ve witnessed firsthand the transformative power of this fusion—bringing both Haistack – Law Firm’s AI capabilities and Lateral Link’s deep-rooted industry insights into play.

Efficiency-driven Evolution in Law Practice

Modern legal operations are now migrating from traditional, manual processes to embracing a data-centric, efficiency-first approach. Studies validate that integrating advanced legal tech solutions has resulted in a striking 20% reduction in administrative overheads. It’s not just innovation—it’s a necessity for future-ready law firms.

Pioneering the Future: Automation in Legal Processes

Here’s where automation stands as a beacon. The days of tedious document reviews and prolonged recruitment processes are being overshadowed by platforms like haistack.ai. Such tools aren’t mere conveniences; they signify a strategic pivot in legal practices, intertwining data analytics and deep learning to yield unprecedented outcomes.

Marrying Haistack – Law Firm’s transformative AI with Lateral Link’s recruitment acumen, the synergy crafts a unique edge for law firms—recruitment intelligence meets actionable market insights. Our combined strengths deliver both the right candidate profiles and the tools to understand their place and potential within a firm.

Unlocking Economic Value through Legal Tech

Beyond streamlining, the real value emerges in economic gains. Adopting such advanced tools doesn’t just refine operations—it reshapes financial landscapes. Drawing from our extensive analysis, the economic implications are clear: strategic recruitment backed by tech can propel profitability, with proper attorney placement translating into significant daily profit margins. Yet, potential revenue losses from unfilled positions loom large. With platforms like haistack.ai, these pitfalls are no longer inevitable, offering solutions to rapidly match attorneys with fitting roles.

Crafting Tomorrow’s Legal Landscape

While the appeal of legal tech remains strong, its astute application is paramount. At Lateral Link, we champion an adaptive technological approach, ensuring alignment with industry benchmarks.

In the nexus of legal services, the fusion of expert recruitment and legal tech, as exemplified by our partnership with haistack.ai, paves the way. Firms aligning with such visionary benchmarks don’t just adapt—they lead, shaping the very contours of the legal world’s future.

Applying AI to Legal Recruiting: New Tools for Efficiently Matching Firms and Candidates

With everyone talking about ChatGPT and the implications of AI tools for the future of various professions, now is an opportune time to consider how AI might change legal recruiting. We at Lateral Link have been actively engaging with this question for years: in fact, we have a sister company called Haistack.AI that is developing AI products for the legal recruiting industry.

So for the latest episode of the Movers, Shakers & Rainmakers podcast, we invited Haistack.AI Chief Technology Officer Michael Heise to discuss the possibilities and limitations of AI for law firms and legal recruiters. Mike educated us on the likely implications of AI for our industry and described the logic behind the product that Haistack.AI is currently building.

Mike is a seasoned legal tech innovator with a deep understanding of Biglaw firms. Prior to joining Haistack.AI, Mike held software leadership roles at Cooley and Covington & Burling. As he explained on the podcast, he is married to an attorney, and it was his wife who first sparked his interest in legal sector innovation.

AI can be a valuable tool

Mike explained that AI has the potential to assist lawyers with a broad range of tasks. For example, a litigator could rely on AI tools to set out the basic structure of a brief, allowing the lawyer to dedicate more of her time to the higher-value tasks of refining arguments and tailoring them to be most persuasive based on the unique facts of the case. As Mike puts it: “AI is not going to replace you. The person who knows how to effectively use AI is going to replace you.” AI tools will become increasingly sophisticated, but human judgment will remain essential for crafting the strongest and most original arguments.

Similarly, AI is well suited to help recruiters—both within firms and outside them—to more efficiently identify high-potential candidates. By reducing the time a recruiter spends on manually trawling through candidate profiles, AI can enable the recruiter to gain a deeper understanding of the high-potential candidate pool and the relative strengths of the candidates within that pool.

The Haistack.AI vision

As an example of how AI promises to make recruiting more targeted and efficient, Mike described the product that the team at Haistack.AI is building. It entails creating three essential models: (1) profiles of lawyers currently working at the firm that is using Haistack.AI in its hiring process; (2) profiles of lawyers working outside that firm; and (3) profiles corresponding to the specific roles for which the firm is recruiting. By comparing the profiles of lawyers previously hired by the relevant practice group and office with the profiles of external lawyers, the algorithm can instantly generate a list of high-potential candidates and an explanation for why those candidates appear to be a good fit. Moreover, the AI will use Lateral Link data to screen out candidates whom the firm has previously considered and determined not to be a fit. Finally, the tool will give some indication of the extent to which the leading candidates are likely to be in demand at other firms seeking to fill similar vacancies, alerting the hiring firm to the need to move quickly where a candidate is likely to be in especially high demand.

With the assistance of the Haistack.AI tool, the recruiter managing the search will immediately see how the algorithm matched a candidate’s qualifications and experience to those of current members of the group. This is where human judgment comes in. The AI accelerates the first step of identifying a shortlist, but the law firm’s recruiting and attorney professionals must assess whether the shortlist fits their needs, through interviews and other more traditional evaluations.

Mike noted that in addition to generating lists of promising candidates, the Haistack.AI tool could also help identify current members of a firm who are in especially high demand relative to what the broader lateral market is seeking. In alerting a firm to attorneys who are at greater risk of leaving, the tool can help nudge a practice group to be more proactive about taking steps to keep valuable team members happy.

AI is not a panacea

Mike also explained the importance of recognizing the limitations of AI and of not buying into the excessive hype that frequently surrounds promising technologies in their early stages. AI will not solve all hiring problems. To take just one example, the inputs for AI models like the ones that Haistack.AI are building are composed of historical data — the models are designed to replicate the firm’s past hiring decisions. To the extent the past hiring was suboptimal, such as through failing to hire qualified diverse candidates, the AI tool will not correct the problem. Instead, it is important for the human users to be thoughtful about patterns in past hiring that they do not wish to replicate and make an active effort to change them.