Thomson Reuters recently released compelling data on utilization rates, shedding light on noteworthy trends in the legal industry. On average, law firms find themselves writing off approximately 7% of their billable work, with clients further contributing to this figure with an additional 2% in write-offs. In total, this results in an average utilization rate of 91%. The workflows and areas contributing to these write-offs and reductions represent fertile ground for the implementation of Generative AI solutions. Do you agree? https://lnkd.in/gGT3atFM #legaltech #innovation #generativeAI
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Curious about how Organizing4Innovation can help you streamline your innovation process and deliver better results? Our latest explainer video (https://lnkd.in/e-Gjm3kr) shows how the Steering Wheel platform creates committed project teams, drives accountability, and maximizes ROI. Watch now to discover how you can effortlessly bring accountability into your innovation process with real-time insights. 👉 https://lnkd.in/e-Gjm3kr #innovation #accountability #betterteams #Organizing4Innovation #ROI #leadership
Bring Accountability Effortlessly Into Your Innovation Process – Steering Wheel Explainer
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"Rushing for AI ROI? Chances are it will cost you" by CIO is a great article. The first sentence really nails it: ‘Poor planning and fear of missing out are likely to lead to bad AI investments, but even good AI projects may take time to return measurable business value.’ I also agree with the “Measure everything” approach, though I'd suggest being more selective—tracking every detail can become time-consuming. It's important to focus on what truly moves the needle. I appreciate the advice to start small and cost-effectively—figuring out what works (and why) before scaling any solution is key. One thing I’d add to the discussion: the idea of ROI as a commitment, not just a number on a business case that’s often forgotten. What if there was a stronger focus on at least ensuring AI projects break even? Of course, this requires giving project teams the right support to succeed—it wouldn’t be fair to ask for accountability without providing the tools to deliver. https://lnkd.in/gCU2f4FR #AIROI #GenerativeAI #AIBusinessStrategy #DigitalTransformation #Innovation #TechLeadership
Rushing for AI ROI? Chances are it will cost you
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✨ Is ROI in Your Organization a Commitment or Just a Number? ✨ After experimenting with ChatGPT, wanting to understand how good it is at writing code, it crafted something that might spark a fresh conversation about ROI in innovation projects and the value of ChatGPT: Introducing the "Fast Track ROI Quiz"! 🚀 https://lnkd.in/eDMivj6m ChatGPT created this entire quiz. It is to help you figure out if you are prepared to deliver on ROI—or if there’s a gap between the desire and the actual results. 💡 Whether you view ROI as a prediction, a frustrating afterthought, or a commitment, the quiz will give you a sense of where you stand. 📝 Curious? Take the "Fast Track ROI Quiz" here https://lnkd.in/eDMivj6m and find out if you are set up for success. Would love if you could report back here - did the results provide value?
Fast Track ROI quiz -
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Sometimes these older HBR articles pop up on our LinkedIn News Feed. Many have lost their relevance, but these 5 myths about strategy still seem relevant: Myth 1: Strategy is about the long-term Myth 2: Disruptors change strategy all the time Myth 3: Competitive advantage is dead Myth 4: You don’t really need a strategy; you just need to be agile Myth 5: You need a digital strategy
Strategy has its myths — half truths and half understood assumptions that eventually lead to mistakes and even disasters.
5 Myths About Strategy
hbr.org
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🚀 Great ideas for Generative AI and other solutions are only the beginning. The real challenge? Turning those ideas into successful outcomes. As innovators, we often think we know best and that adding structure or formal processes will only slow us down. But what if the right structure could help maximize your project’s fullest potential while minimizing risks? 💡 In my latest blog, I explore why even the most capable project teams and innovators benefit from structure—and how it amplifies success rather than restricting it. It’s not about adding bureaucracy, but ensuring your vision is executed efficiently and effectively. 💻 Check it out here: https://lnkd.in/emeGWGQY Discover how a simple, flexible framework can turn your next big idea into measurable results—without sacrificing creativity or agility. Love to hear your thoughts! 👇 #innovation #leadership #projectmanagement #CTO #CIO #innovationstrategy
Why Even the Best Innovators Benefit from Structure -
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While this article is from 2020, its insights are still incredibly relevant today. It’s a powerful reminder of the balancing act that leadership requires. Seven Key Tensions Leaders Navigate: 1. The Expert vs. the Learner 2. The Constant vs. the Adaptor 3. The Tactician vs. the Visionary 4. The Teller vs. the Listener 5. The Power Holder vs. the Power Sharer 6. The Intuitionist vs. the Analyst 7. The Perfectionist vs. the Accelerator How do you navigate these tensions in your leadership journey?
Command-and-control leadership doesn't work anymore. But leaders who only share and never hold power — or never tell and only listen — will also struggle to be effective.
Every Leader Needs to Navigate These 7 Tensions
hbr.org
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In our fast-paced business world, innovation is the key to staying ahead. But what if the very strategies we use to foster creativity—like forming working groups—are actually holding us back? 🚧 In my latest blog post, I explore how well-meaning working groups can inadvertently stifle innovation and what you can do to break free from this cycle. It's time to rethink how we approach collaboration to unleash each organization's innovative potential truly. 🔗 https://lnkd.in/ebMikA3T Let's discuss: How do you ensure your teams stay innovative and agile? Share your thoughts below! 👇 #Innovation #Leadership #BusinessGrowth #Creativity
How Working Groups Are Killing Innovation -
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The Olympic Games in Paris offered more than just thrilling athletic performances – they provided valuable lessons for innovation and success in any field. The Olympics showcase incredible human achievements, celebrating years of dedication and hard work. But beyond the medals, there's a crucial lesson for innovators: Predicting Success Imagine selecting Olympic athletes at age 5, 10, or even 18 based solely on physical attributes. No coach would do this! Instead, they focus on: • Performance under pressure • Training habits and dedication • Mental toughness and resilience These behavioral factors are far better predictors of future success than raw talent alone. Yet, too often, we evaluate ideas based on surface-level attributes: • Feasibility • Desirability • Viability While important, these are like judging athletes purely on physical appearance. The real differentiator lies in how project teams behave: • During meetings • When testing ideas • Facing setbacks Our research shows that these behaviors separate winners from the rest. Whether in sports or innovation, success stems from dedication, adaptability, and performance when it matters most. Let's shift our focus from surface-level attributes to the behaviors that truly drive results. What Olympic-inspired lessons have you applied in your work? Share your thoughts! #Innovation #Olympics #LeadershipLessons
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This recent HBR article delves into the intriguing debate of building open versus closed ecosystems and offers examples of the grey area between these two extremes. As data increasingly becomes a core asset, it's fascinating to consider how this dynamic will evolve, particularly in sectors with strict confidentiality requirements, like law firms. The question arises: Can law firms embrace greater collaboration while still upholding the rigorous standards needed to protect their clients' sensitive information? The potential to innovate within this grey area is immense. Law firms, traditionally operating in closed environments to safeguard client data, might find new ways to collaborate without compromising confidentiality. Whether through selective data sharing, secure platforms, or strategic partnerships, the possibilities are worth exploring. As the landscape of data and collaboration continues to shift, it will be interesting to see how law firms navigate these opportunities while maintaining their commitment to client confidentiality. Could this be the next frontier in legal innovation?
Openness in ecosystems comes with tradeoffs. On the one hand, openness drives innovation. But openness also presents risks, primarily due to potential loss of control.
Should Your Company Build an Open or Closed Ecosystem?
hbr.org
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To us, the best way out of a Mid-Career Malaise is to drive an innovation project!
Lots of workers find themselves wondering, “Is this all there is?” Here’s what to do when that happens.
How to Beat Mid-Career Malaise
hbr.org
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