U.K. law firms are done investing in new technology—at least until they can get their already bought tech up and running, according to the “Investment Trends in Legal Technology” survey of 52 U.K.-headquartered law firms conducted by HSBC UK.
The survey found that U.K. firms’ legal tech spending dropped significantly in 2018. While 75 percent planned to invest over 5 percent or more of their firms’ revenue on technology in 2017, only 44 percent said the same in 2018. Over half of surveyed firms are among the top firms in the country by revenue.
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