[MUSIC] Disrupting the legal sector with technology. How technology is changing the rules of the business. We're going to talk for the reason why a technology could change a business. The first one is information, access to information. And that is to say thank you to the Internet, the connection. The rule now is information is everywhere and you can access to information from wherever you want. Very important. The last decades ago, if you were a lawyer in a small town, probably, you cannot have access to a lot of books, to a lot of laws. You can only access to that information if you're in a big city. Now, the information is accessible everywhere. And let's talk about this, because that is very, very important. Because you can't provide service, if you're in a small city, in the middle of a mountain. That has changed the rules because the power from who keep the information, that it's not a very important thing in the business right now. Also information is shared, yes, is shared. The news wrotes like currently for commons. That the people write books and just say, yes, I want to share my knowledge and share my information. Let's think about the old business in the legal sector that was keep information, keep it secret. Now, the information is everywhere from whatever you want and most important is shared. And the first thing is that the users are connected and the lawyers are connected. That was a very disconnected business and when we have the website, all those dots, the law firms, the consumers, are connected. What does it means? Means that if you're a consumer from one town and you need a lawyer from another town, you just search on Internet and you find that specific lawyer that you need. Or if you are a consumer, you first research on the Internet about your problem and when you go to that lawyer, you know almost, not everything, but a lot of things like your lawyer. That has been changing the business of the medical sector, but now changing the business of the legal sector. Yes, the information is accessibly for the customers and also for the lawyers. The next big disruption is information that you can keep a lot of information. We call that the big data. The big data is the next disruption technology. And watch this, this has, okay, big data is a lot, a lot, a lot, a lot, a lot of documents and why we are talking about big data. Big data already exist decades ago, but the most important thing right now is that big data now can be done from almost every person. And the reason is because it's cheap keeping that information and also it's very cheap to process that information. What's the meaning of that new technology? It's The SaaS Business. The SaaS Business is, you can keep a lot, a lot, a lot of documents of information in a cloud server. And then, you can use machine to process all that information. A decade ago, you only can do that if you have a large number of lawyers to reveal documents, to keep those documents. Now, that had changed. And when we talk about disrupting the legal sector with technology, we have say that the most relevant technologies access to information and also the big data, keeping a lot of data. And who is playing with that tools? The startups, the small companies that are starting with the revolution. And who are those startups? Those are startups probably are companies incorporated by a lawyer, that love technology or the lawyer plus a tech guy. In the next video, we're going to try to explain how to apply all these technology and how it was the legal tech startup. [MUSIC]
