| | DECEMBER 20188CIOReviewAt the turn of the 20th century, many companies created the management position of "vice-president of electricity." These executives were charged (sorry, pun intended) with ensuring that their factories and offices had ample access to the power sources, wiring, converters, switches and all of the complex equipment necessary to harness the electricity that would power the burgeoning second industrial revolution. These were professionals whose mastery of the new electrification technology would give their companies a competitive advantage in their markets. But as it became ubiquitous and its critical importance obvious, electricity became less of a competitive advantage and more of a commodity; electricity became less the province of vice presidents and, more, something that was built into the walls of every facility and workplace.Is there a lesson to be learned from this in how law firms approach knowledge management? I think perhaps there is. Until now, many firms that have developed and promoted knowledge management programs have done so expecting that their ability to harvest, curate and distribute their internal knowledge resources would enhance their competitive advantage. Law is a knowledge-based business and effectively and efficiently managing knowledge would seem to be a prerequisite for success in an era of tightened corporate legal budgets and constant pressure on billing rates. Firms that have invested in knowledge management may have taken to heart former Hewlett-Packard CEO Lew Platt's famous quote ­ now a mantra of KM professionals ­ that "if only HP knew what HP knows, we would be three times more productive." So, law firm knowledge management professionals have built and deployed knowledge databases, search engines, intranet portals, and other tools designed to enable employees within their organizations to collaborate, share their knowledge and access the expertise of their colleagues. They tout these technologies as enabling their organizations to deliver services to clients more efficiently than their competitors, urge their internal colleagues to use these knowledge management tools to collaborate with each other more effectively and promote knowledge management as a competitive differentiator. But will these knowledge management solutions provide a competitive advantage in the long run? How long will it be before knowledge management-based services are just table stakes? How THE FUTURE OF KNOWLEDGE MANAGEMENT IN LAW FIRMS ­ THE ANSWER IS OUT THEREBy Scott Rechtschaffen, Chief Knowledge Officer, Littler MendelsonScott Rechtschaffen
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