188 - How to use tech that drives real growth and profitability with Arsh Maini

How can law firms use AI and technology to drive growth, improve profitability and become more efficient without simply adding another piece of software to an already complicated business? In this episode of The Law Firm Owners Podcast, I’m joined by Arsh Maini, Co-Founder and CEO of IOTA Analytics, a legal data analytics business combining technology with legal processes to transform how law firms use data. Arsh is an experienced entrepreneur, investor and former KPMG partner, and he brings a fascinating perspective on the technology challenges facing modern law firms. We explore why many firms are working harder while their margins continue to be squeezed, how administrative work and revenue leakage affect law firm profitability, and why increasing client expectations are forcing firms to rethink the way legal services are delivered.  arsh - transcript But this isn't simply a conversation about adopting AI. Arsh explains why law firms need to get their processes, operating model and data right first. We discuss creating a single source of truth across the firm, standardising repeatable processes and then using AI strategically to solve genuine business problems.  arsh - transcript We also look at some remarkable real-world applications of legal AI, from monitoring regulatory developments across 50 countries and automating patent processes to supporting M&A transactions and dramatically reducing time spent on repetitive research and administration.  arsh - transcript And importantly, we explore how these efficiencies can create opportunities for law firm growth, allowing firms to increase capacity, improve margins and sharpen their business development efforts. To find out more about Arsh go https://www.linkedin.com/in/arshmaini/, His website:https://www.iotaanalytics.com/#about-us About Myerson Connections: Myerson Solicitors is a 100% employee-owned independent law firm based in Altrincham, Greater Manchester. Myerson supports many other law firms across the country daily through its referral network, Myerson Connections. Not only does Myerson help other law firms with referrals, but it also provides free peer-to-peer education, knowledge sharing and practice management support. Discover more at http://myerson.co.uk/connections . About Dan: Currently, Dan is seeking a London Law Firm turning over £1.5M to £6M to invest in, so if you are interested in receiving investment to grow or sell your law firm or know someone who might be, please contact Dan on: [email protected] Dan can also show you strategies that have increased his clients' law firm revenues by 15% to over 300% in one year while reducing their workload by more than half. To find out more about Dan and his programs, click here: https://www.danwarburton.com/ Or add Dan on LinkedIn here: https://www.linkedin.com/in/authordanwarburton/ Proudly edited with finesse by Mike at Making Digital Real ✨