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United States Alternative Legal Service Providers Market Outlook Report 2023-2028: Adoption of Artificial Intelligence & Cloud Technology and Injection of Investments Creates a Positive Future

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Dublin, April 13, 2023 (GLOBE NEWSWIRE) — The “U.S. Alternative Legal Service Providers Market – Industry Outlook & Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.

The U.S. alternative legal service providers (ALSPs) market size is expected to reach $23.04 billion by 2028 from $7.37 billion in 2022, growing at a CAGR of approximately 20.91%

Alternative legal service providers are organizations that offer legal services outside of the traditional law firm model. ALSPs play a crucial role in the legal industry. They offer to counsel to corporations and law firms with low cost and less time than traditional law firms.

People prefer alternative legal service providers (ALSPs) for low-risk and high-volume tasks. The term “Alternative” basically represents a substitute to the traditional service providers, i.e., recruiting an attorney at a law firm. U.S. alternative legal service providers market is challenging the dominant traditional law firms market and is eating up the chunk of work that went directly to law firms.

ALSPs are not only treated as an alternative these days and are portrayed as a class of highly skilled professionals chosen for high-volume tasks and to get the legal work done smoothly in less time.

Alternative legal service providers leverage low overheads and technology to offer their services with added advantages, i.e., efficiency at a low cost, simplicity, speed, flexibility, and a strong client focus.

These businesses typically pick up and enhance elements of legal processes to improve performance which has led to the emergence of new service categories over the years.

Alternative legal service providers do not operate as law firms but as legal services firms. Apart from performing high-volume tasks, the U.S. alternative legal service providers market provides key functions like financial management, client engagement, strategic planning, knowledge management, leveraging technology and data, and many other things.

STATE OF THE U.S. ECONOMY

The state of the U.S. economy can help determine the growth of the alternative legal service providers market. The economy in the near future appears to be a mixed bag.

On one side, looming recession & geopolitical issues, and on the other side COVID-19 is expected to impact how in-house lawyers manage their teams and accommodate their budgets in a cost-constrained environment. However, past performances are a window into how the U.S. alternative legal service providers market could pan out.

IMPACT OF COVID-19

The impact of the COVID-19 pandemic is propelling the desire among clients for ALSPs to deliver solutions within less time and at a low cost. The pandemic has the companies plunged into alternative legal service providers. Automation, cloud technology, and the adoption of AI emerge as drivers in the U.S. alternative legal service providers market during COVID-19.

IMPACT OF RECESSION

The recession is expected to be an agitator of growth for alternative legal service providers. As the next recession is on the prediction charts, its effect on the legal industry largely depends on the vendors’ offerings and attributes. Their performance may be forecasted considering the industry’s buying and selling trends. Digitally forward legal providers are more likely to be able to perform better during the period.

SUCCESS FACTORS

Value

Creating value and value propositions are central to the new age legal service delivery model. It typically depends on how the resources, pricing, finances, and investment are combined in the model. Models crafted to offer a portfolio variety at flexible and fixed prices with services delivered disintegrated and automated are likely to see success in the market.

Creating Agility

Agile workflow processes can be the key between the success and failure of alternative legal service providers, backed by diverse human resources. Ideally, they include junior lawyers, partners, professionals, paralegals, technologists, and technicians is essential to optimize cost and accelerate service delivery.

Injection of Investments

There has been a wave of funding just as alternative legal service provider operators become more innovative and technologically savvy, drawing recognition for their value-added editions of the traditional legal model from legal buyers and clients alike.

Further, investors are increasingly becoming aware of the impediments put in place by lawyers, resulting in division and shunned growth. As a result, the market has come far from being a young industry that witnessed transaction restrictions and has become the next ‘new thing’ powering the legal industry forward.

Moreover, the growth in the U.S. alternative legal service providers market has unraveled a slew of private equity investments.

Adoption of Artificial Intelligence & Cloud Technology

Adopting AI and cloud technology will enable ALSPs to work remotely and make the legal processes easy and smooth. Law firms benefit from adopting AI to produce highly standardized documents like robotic process automation and confidential agreements.

The advent of cloud technology allows applications to run smoothly on third-party servers without extensive in-house storage. ALSPs are investing in cloud technology, AI solutions, and cybersecurity, as these will make their work easy.

Raised Data Security & Privacy Concerns

The very nature of the law industry means it is under significant threat from security and privacy issues. Given that law, companies have access to huge volumes of IP and other confidential corporate/client information that could constitute trade secrets, insider information on M&As, personally identifiable data, approaches to litigation, and other privileged information, and handling significant funds.

Such factors make Law firms highly prone to breaches. Negligence of employees and external threats from foreign governments or competitors are some of the key risks that can lead to stolen information or disrupted legal functions.

Competitive Landscape

The U.S. alternative legal service providers market is witnessing a growing number of international law firms crediting the concept of legal service delivery. With innovations in legal service offerings, ALSPs are getting opted for as these services are procured where traditional operational models are outdated or fall short.

Vendors need to update their services to suit modern-day needs. Legal organizations such as Clifford Chance and Allen & Overy are reimagining and reinvigorating legal service delivery; hence they are likely to save themselves from acquisitions from large and dominating legal bodies. The disintermediation of legal work influences alternative legal service providers’ success.

There will always be some measure of legal work that entails trained sophisticated lawyers with the right skill sets to carry out some of the jobs and can’t be siphoned off. With clients increasingly moving further afield in the Rogers Diffusion Curve, lawyers and law firms will account for a less dominant share.

Key Attributes:

Report Attribute Details
No. of Pages 205
Forecast Period 2022 – 2028
Estimated Market Value (USD) in 2022 $7.37 Billion
Forecasted Market Value (USD) by 2028 $23.04 Billion
Compound Annual Growth Rate 20.9%
Regions Covered United States

Premium Insights

Market Opportunities & Trends

  • Shift of Focus to Delivery
  • Injection of Investments
  • Rise of Self-Service Functions
  • Blurring Lines Between Traditional and Alternative Law Firms
  • Adoption of Ai & Cloud Technologies

Market Growth Enablers

  • Legal Departments in Overdrive
  • Surge in Legal Spending
  • High Dissatisfaction With Law Firms
  • Intensifying Focus on Technology Adoption

Market Restraints

  • Data Security and Privacy Concerns
  • Lack of Proper Articulation of Client Challenges
  • Misplaced Perceptions About Customer Value
  • Resistance and Lack of Reconfiguration to Alsps
  • Great Resignation in Legal Industry

Key Company Profiles

  • Allen & Overy
  • Axiom Law
  • Elevate Services
  • UnitedLex

Other Prominent Vendors

  • Clifford Chance
  • Consilio
  • Epiq Systems
  • Everlaw
  • Exigent
  • Greenberg Traurig
  • Integreon
  • KLDiscovery
  • LegalZoom
  • Lawyers On Demand
  • Mindcrest
  • Reed Smith
  • Lumen Technologies
  • Morae
  • Orrick Herrington & Sutcliffe
  • QuisLex
  • Thomson Reuters

For more information about this report visit https://www.researchandmarkets.com/r/gw93bg

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Artificial Intelligence

Rainbow Robotics begins pre-orders of Bimanual Mobile Manipulator RB-Y1, the world’s first research platform for AI experts for $80,000 USD

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DAEJEON, South Korea, May 9, 2024 /PRNewswire/ — Rainbow Robotics(CEO Jungho Lee), a robot platform specialized company, will begin pre-orders for the Bimanual Mobile Manipulator RB-Y1 from May 8.

During the pre-order period, the research platform is sold for $80,000 USD and the commercial platform is sold for $120,000 USD (VAT excluded). Products are scheduled to be delivered sequentially starting in October.
RB-Y1 is a research platform that has both arms with 7 degrees of freedom per arm for smooth movements similar to human movements. It is a humanoid-like robot with a single leg with 6 degrees of freedom on a mobile platform for a wide work radius. The LiDAR system is adopted for autonomous movement, and a high-performance 3D recognition sensor and master ARM are provided as options to increase usability. In line with the recent trend of the AI era, Rainbow Robotics plans to provide various APIs and options so that AI developers can easily utilize them for research purposes.
Recently, various organizations are introducing humanoid robots. However, they are only used for their own purposes and there is no standard platform for various AI robot researchers. Rainbow Robotics’ RB-Y1 is the first to commercially sell such a research platform.
Unlike existing simple industrial robots, a Bimanual Mobile Manipulator is a humanoid robot that uses both arms and is suitable for advanced manufacturing sites and services. It is a next-generation robot platform that can be used for complex assembly, manufacturing, and collaboration beyond existing simple automation processes.
If you would like to pre-order RB-Y1, please contact us through enquiry page or email us at [email protected].
Meanwhile, Rainbow Robotics will participate as a bronze sponsor in the IEEE International Conference on Robotics and Automation (ICRA 2024), which will be held at Pacifico Yokohama, Japan on May 13.
During the exhibition, various demonstrations will be shown of controlling RB-Y1 with real-time remote operation technology, which links the data arm and simulation system. Additionally, Rainbow Robotics plans to exhibit the small, high-precision collaborative robot RB3-730 and the quadruped robot RBQ-10.
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Artificial Intelligence

AgriBusiness Global™ Announces 2024 Event Line-Up: Connecting Crop Input Leaders Worldwide

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WILLOUGHBY, Ohio, May 8, 2024 /PRNewswire/ — AgriBusiness Global, the premier business source for leaders in the global crop input value chain, is thrilled to announce its lineup of events for 2024. For 37 years, AgriBusiness Global has been the go-to resource for quality, trustworthy information and analysis, leading the industry in providing the next generation of crop solutions covering synthetic crop protection, biologicals, and plant health.

In 2024, AgriBusiness Global will host three events, each designed to connect industry leaders, promote innovation, and drive business growth:
AgriBusiness Global℠ LATAM Conference Date: 14-15 MayLocation: Panama City, Panama
Capitalizing on Emerging Technologies in LATAM
The ABG LATAM Conference will bring together industry experts and influencers to discuss the latest trends and developments in crop protection, plant health, biologicals, and ag technology specific to the Latin American region. The Latin-American market offers new opportunities for business growth and partnerships with leading players in the region. Learn More>
AgriBusiness Global℠ Trade Summit Date: 7-8 AugustLocation: Orlando, Florida, USA
The #1 Global Agribusiness Event- Dedicated to Worldwide Networking and New Business Development               
The ABG Trade Summit is the trusted forum for advancing development in the rapidly emerging global crop protection, ag tech, plant health, and biological sectors. Attendees can expect to meet with the world’s leading manufacturers, exporters, trading companies, sellers, formulators, and consultants.  Trade Summit facilitates global trade by offering educational sessions, a robust exhibit floor, private meeting rooms, and dedicated networking opportunities for the world market to connect, engage, and build business. Learn More>
AgriBusiness Global℠ SE Asia ConferenceDate: 6-7 NovemberLocation: Jakarta, Indonesia
Empowering Southeast Asia’s AgriBusiness for Global Impact
The ABG Southeast Asia Conference, produced in cooperation with the Indonesian CropCare Association, will showcase cutting-edge technologies and innovations in crop production, addressing the unique challenges and opportunities in the Southeast Asian market. Attendees will gain unique insights to prepare for the future and navigate the present in the rapidly evolving agricultural market. Learn More>
“Our events are dynamic platforms for industry leaders to connect, collaborate, and drive innovation,” said Eric Davis, Group Director at AgriBusiness Global. “We are excited to bring together the brightest minds in the industry to explore new ideas, foster partnerships, and shape the future of agriculture.”
For information about the 2024 events and how to participate, visit AgriBusinessGlobal.com.
About Meister Media Worldwide
For media inquiries, please contact:Amy Reddington, Show Director
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Economic Shifts Ahead as AI Integrates Deeply into Work and Society, Fueling $4.4 Trillion Growth

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USA News Group News Commentary
Issued on behalf of Scope AI Corp.
VANCOUVER, May 8, 2024 /PRNewswire/ —  USA News Group News Commentary – New developments in AI technology are currently changing the face of work, economies, and society as we know it, according to analysts at McKinsey & Company who are projecting generative AI (gen AI) could add $4.4 trillion annually to the global economy. Between January and March of this year alone, the world’s largest cloud-computing giants have collectively invested $40 billion mostly into data centres equipped to deal with growing AI workloads, according to The Economist. The shift is leading experts to witness how AI companies are leading a transition from Software-as-a-Service to Service-as-Software, turning the table on the very essence of SaaS, representing a $4.6 trillion opportunity. A variety of tech companies have recently advanced the integration of AI, providing swift, safe, and cost-effective solutions for businesses to adopt artificial intelligence technology this past week, including: Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF), Meta Platforms, Inc. (NASDAQ: META), Amazon.com, Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), and C3.ai, Inc. (NYSE: AI).

The article continued: Seeing the extraordinary speed of AI’s advancements and impacts, combined with surging private- and public-sector demand, is causing regulators in the USA and EU to issue legislation calling for action. Now analysts are trying to determine whether the GenAI boom is setting up to be another bubble, or a legitimate long-term investment opportunity.
SCOPE AI PROVIDES CORPORATE UPDATE
Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) (“Scope” or the “Company”) today provided an update  on new developments of Scope’s artificial intelligence driven recognition technology called GEM (General Enterprise Machine Learning) system. Built on advanced visual recognition and neural network technology, GEM could advance industries, including Advertising and Gaming, by providing them with new insights and capabilities.
Advertising: GEM aims to enable advertising businesses to personalize ad content based on real-time user behavior analysis. By leveraging visual recognition technology, companies can create highly targeted and engaging ads, maximizing return on ad spend and driving customer engagement to new heights.
Gaming:  In the gaming industry, GEM aims to enhance user experiences by customizing gameplay and recommendations. By analyzing player behavior using neural networks, GEM provides customers and developers with invaluable insights with the intention of optimizing game design, increasing user retention, and maximizing revenue potential.
Unveiling Neural Networks: Neural networks are the foundation of GEM’s technology. These complex algorithms mimic the structure and functionality of the human brain, enabling machines to learn from vast amounts of data and make intelligent predictions and decisions. By harnessing the power of neural networks, GEM offers comprehensive capabilities in advanced pattern recognition, data analysis, and decision-making across industries.
“We’re very pleased at how seamless we were able to streamline, enhance, and strengthen our platform with the latest performance and security upgrades made to our infrastructure”, said Sean Prescott, Founder and Non-Executive Chairman of Scope AI. “The next generation of our platform will set us apart in the kind and sensitivity of data we can process and store. It’s a potential game-changer for the industry.”
Scope’s GEM platform includes advanced features designed to enhance user experience and security, all while streamlining operations. Built-in customer support and user management modules allow for seamless assistance, while the native referral system fosters user engagement and growth. Along with the full admin suite for comprehensive analysis and reporting, businesses are fully empowered with unparalleled capabilities and insights.
CONTINUED… Read this and more news for Scope AI at:  https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
In other industry developments and happenings in the market this week include:
Meta Platforms, Inc. (NASDAQ: META), the parent company of Facebook, Instagram, and WhatsApp, recently teamed up with the Georgia Institute of Technology to create a massive open dataset to advance AI solutions for carbon capture, a technology with promising potential to address global climate concerns. As per the collaboration, Georgia Tech and Meta say their massive database could potentially make it easier and faster to design and implement new direct air capture technologies.
“The open-source database enabled the team to train an AI model that is orders of magnitude faster than existing chemistry simulations,” said Georgia Tech in a press release. “The project, named OpenDAC, could accelerate climate solutions the planet desperately needs.”
Researchers at Meta’s Fundamental AI Research (FAIR) team were already looking for ways to harness their machine-learning prowess to address climate concerns. They ultimately landed on direct air capture as what they believed to be a promising technology, and immediately reached out to Georgia Tech. FAIR’s lead authors generated the database by running quantum chemistry computations on inputs provided by Georgia Tech’s team, using about 400 million CPU hours along the way, and surpassing several hundreds of times more computing than the average academic computing lab can do in a year.
Amazon.com, Inc. (NASDAQ: AMZN) through its global Amazon Web Services (AWS) cloud system subsidiary recently rolled out its new AI system called Q, which it has dubbed as “the most capable generative artificial intelligence (AI)-powered assistant for accelerating software development and leveraging companies’ internal data.”
As well, Amazon also recently launched its Custom Model Import for Bedrock tool, which CEO Andy Jassy called a “sneak big launch as it satisfies a customer request we’ve heard frequently and that nobody has yet met.” The tool allows customers to import custom models they’ve built in Amazon SageMaker into tits Amazon Bedrock platform. Doing so lets enterprises utilize AI investments they’ve already made, while also leveraging Bedrock’s capabilities to scale their models and applications.
“Customers are excited about this, and as more companies find they’re employing a mix of custom-built models along with leveraging existing LLMs,” said Jassey. “The prospect of these two linchpin services in SageMaker and Bedrock working well together is quite appealing.”
Apple Inc. (NASDAQ: AAPL), whose iPhones currently hold the Top 4 (and 5 of the Top 10) best-selling smartphone models by sales, recently reported an all-time revenue record in sales in its most recent financial results. While being seen as potentially late to the game on AI, several reports in recent weeks has suggested that Apple is not only talking to OpenAI and/or Google about powering some of its AI features, it’s also been reportedly spending “millions of dollars a day” training its own AI model, called Ajax.
Now industry experts are saying the iPhone is about to become an “AI phone”, in anticipation of Apple’s upcoming iOS 18. A key anticipated feature of iOS 18 is Apple’s own large language model (LLM), similar to the technology behind AI chatbots like ChatGPT. It’s widely speculated that this Apple-developed LLM will be integrated with Siri, enhancing the capabilities of the iPhone’s digital assistant. As indicated by Bloomberg in late April, it’s suggested that Apple’s  LLM will be entirely on-device, meaning the tech will be powered inside by the iPhone’s processor, rather than in the cloud—which may be a bit less powerful and knowledgeable, but with far quicker response times.
C3.ai, Inc. (NYSE: AI), an Enterprise AI application software company, is actively working to enhance the petroleum industry in Houston, through a cooperative effort that allows oil and gas companies to share AI technology and applications with each other. This effort is meant to curb companies from withholding information from competitors, with the goal of collaboration instead.
“We’re building the applications that are, you know, monitoring every device on every offshore oil rig in real time so that they can see with 18 hours in advance before something fails and just shut it down,” said Tom Siebel, CEO of C3.ai. Siebel has explained that AI is at work in oil and gas, diagnosing issues and assisting with maintenance, giving the example of a giant like Shell uses AI to track their half a million valves around the world.
“They can see what’s going on,” said Siebel. “They can predict when a valve is going to be stuck open or closed before it happens, and if one of these valves gets stuck open or closed, things go real bad, real fast, right? And so, they’ve decided to make these applications available to Aramco, Eni, Chevron, Phillips.”
A recent report from Research and Markets predicted that the global AI in oil and gas market is expected to surge to an impressive $5.96 billion by 2028, growing at a CAGR of 13.3%.
Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
 CONTACT:USA NEWS [email protected](604) 265-2873
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Scope AI Corp. advertising and digital media from the company directly. There may be 3rd parties who may have shares Scope AI Corp., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Scope AI Corp. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Scope AI Corp. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

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