Reshaping the Legal Departments: Time is Ripe for Radical Changes
Reshaping Legal Departments. Time is Ripe for Radical Changes

As a measure for the widespread adoption of technology, legal tech patent applications have reached a record high this year. In its statement by Thomas Reuters, "The lockdown has forced many lawyers to go through a steep learning curve in the use of collaborative tools," and predicted an uptick in technology adoption as a result of the ongoing pandemic.

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Legal technology has the ability to predict outcomes through pattern-learning and augment what humans do. Disruptive technology may actually force lawyers to rethink how they work and define the future workflow processes.

The past one decade has shown how technology permeation can drive efficiency in legal functions. Is it wise to opt for a trial? What is the likelihood of winning in a trial?

Overall implications of the contract-technology have a way to predict outcomes through pattern learning and cognitive analysis. Although technology permeation has been relatively a slow-paced one for the legal sector, the last one decade has seen a marked change of sorts, to the extent that cloud, blockchain technology application is seen in the legal delivery system. This has put legal departments in the ‘foothills’ of change that they are ready to witness from now onwards.

From this focal point, we focus on how technology is leading transformation for the core legal functions and enabling teams to function better. Especially in the areas that require insights and deep learning capabilities.

The idea behind putting technology to work is to augment, what humans do and free them up to take high-level tasks.

Staying ahead of the curve means using the right technology for most of the routine tasks, which otherwise are being carried out with manual efforts. Experts state that an estimated 23% of the legal work can be automated with the use of technology for scanning documents, streamlining communications and legal research capabilities.

Until two decades ago, technology was still a far-cry for lawyers. The years that followed, witnessed the use of communication and research tools for lawyers.

The past one decade has been significant for lawyers as-far-as technology adoption is concerned. For innovation, process integration, transformation and overall delivery of legal services; legal tech tools have a way to predict outcomes. Analytics and machine learning are touted as the promising applications to take over some of the exclusive tasks meant for lawyers.

For Overall Implication and Individual Task Management

Whether it is about automating individual functions or providing end-to-end support for legal delivery processes, 93% of the respondents in the poll conducted by the Legal Technologist magazine agree that the sector is headed for a radical change in the near future. Some of the core areas where technology may be put to use include:

Litigation and case management: No more siloed information or scope for latent defects such as missed dates, follow-up of cases, and collaboration with outside counsels. Technology is an enabler of efficient management of cases before courts of various hierarchies.

End-to-end contract management: Contracts on a self-serve mode is the idea behind using technology for contract management. The solution offers quick turnaround time to generate, negotiate, sign and execute contracts, and cuts down the intermediary processes and use of paper. Further, post contract execution, tracking of milestones, obligations and related tasks can be completely automated.

Intellectual property rights management: Documentation and readying papers for ling process, follow-up status, management of renewal and updates. The platform is relevant as it enables access to information on a global scale.

Land registry and management of deeds: When tracking of land deeds is a challenge, technology can enable verication of records, access to information between government and landowners.

There has been an uptick in the use of technology by lawyers during the past couple of years. Responding to crisis, scaling up operations, is one way to look at it. However, increasing value proposition by offering resources and tools for collaboration can attract and retain talent, aid better collaboration or in other words, can be instrumental in reshaping the legal service delivery model in entirety.