If legal leaders aspire to become strategic business partners, what are the topics that come to the fore as they begin or continue their journey of modernization? New lawyers will have job titles such as Legal Solutions Architect, Director of Legal Innovation, Paralegal and Director of Legal Operations. You can also work in legal startups and legal technology design. An example of this kind of work already in development in the legal industry is our own Bond alumnus Warwick Walsh, CEO and founder of Lawcadia. In an unprecedented year, corporate legal services have been put to the test as they weathered many STORMS related to COVID-19. Resource and budget constraints, as well as a lack of technical skills, have been cited as the biggest challenges for legal services over the past year, as many businesses work largely from home. The pandemic has forced businesses to mitigate the risks associated with business disruption, respond quickly to the range of legal demands that had arisen, and adapt to new work arrangements. After more than a year of demonstrating resilience, the results show that managing, executing and monitoring work can be challenging, but are important drivers on the road to modernization. One survey respondent explained, “The strategic initiative for the company is to work faster, smarter and bolder. Deloitte`s 2021 State of Legal Operations Survey, made up of legal executives from 81 companies across five industries, shows that legal leaders continue to struggle to ensure the right sizing and procurement, with lawyers taking on too much administrative work, representing an 11% year-over-year increase.
Almost all legal frameworks surveyed (91%) agree that it is time to modernize the way legal services are delivered, up 10% from last year. Artificial intelligence (AI) is already part of our lives in GPS navigation systems, facial recognition and content recommendation engines. In this module, you will learn how the legal industry is also evolving as a result of this technology. You`ll get to know companies that use AI in areas such as legal research, document creation, and even to predict study outcomes. Finally, you reflect on the opportunities, threats, and ethical dilemmas that arise when using robots as lawyers and judges. The programme includes both a foundation of strong legal knowledge and traditional legal skills to ensure the development of essential legal skills and a focus on developing key business skills relevant to today`s workplace. A report by the New South Wales Bar Supports this notion, stating that new jobs will be created in new disciplines that can only be provided by people with extensive legal knowledge and digital know-how. This program is specifically designed for lawyers and legal professionals (paralegals, notaries, lawyers, compliance specialists, court administrators, etc.) who want to apply technology to their legal transactions and transform their organization or gain a significant competitive advantage to cope with new projects.
Eugenia is Professor of Strategy and Legal Marketing at Esade Law School, where she leads various management courses, such as corporate lawyer management. Acquire consulting habits to stay informed of changes in the legal market. Technology is evolving much faster than the law. This, which may seem like an obstacle at first glance, is actually a golden opportunity to stand out almost like photocopies among the many legal transactions that operate today and the thousands of lawyers who are finishing their law studies. Because if you are no different, you will become easily replaceable. As the traditional law firm`s business model is threatened by new technology-driven market players, new ways of doing business in the legal sector are emerging. Our goal is to prepare our students to be critical thinkers, problem solvers, and leaders, with the flexibility to respond to changes in advocacy. To this end, we combine practical skills with legal theory throughout the program while seeking excellence in teaching and science.
According to the Future of Law and Innovation in the Profession Commission of Inquiry, online legal services in the U.S. have gone from a zero base a decade ago to the $4.1 billion industry they represent today, with growth of 8% in 2019. Australia is following this trend. It`s important to understand how important it is to have a marketing strategy in the legal industry that focuses on the client. Through this program, I learned to focus on integrating multidisciplinary teams. This enriches our range of services and makes them more accessible, for the benefit of our customers. What will the future of corporate law look like as in-house lawyers become more strategic business partners? While this may be different in any organization, legal departments should start by developing their vision for the future – and strategies to achieve it. So far, we`ve been talking about transformation and growth, but what are the real and specific applications of legal technology in your profession? Note: You have nothing to do with replacing the avocado with a machine. The Executive Dean of Bond Law School, Professor Nick James, says the new Bachelor of Legal Transformation will appeal to people who are at the forefront of technological change in the legal sector and want to make a real difference. “Many of our law graduates don`t want to become lawyers in the traditional sense of the word, so this degree offers students a unique combination of classical legal education combined with business and digital skills that will be useful in any industry,” he says. Our information gathering, workshops and analysis of your legal operations landscape can help you scale your legal department at a pace tailored to your needs.
We present insights that will help you identify and analyze key operational areas, identify short-term ROI opportunities, and discuss areas of interest for legal strategic objectives. “Law firms and other legal service providers have told us loud and clear: they are looking for a new type of law graduate.” An overview of the legaltech market with its main players and protagonists. She is currently a consultant and focuses her professional activities on strategic and innovative projects in the legal sector – both in national and international law firms and in multinational companies. A good course that describes legal technology trends around the world, especially in terms of dispute resolution and innovative approaches. Identify trends and patterns of behavior in the transformation of the sector. “Many of the exciting new roles emerging in the legal services industry do not require admission to the bar,” he says. In general, blockchain is known to be the technology on which cryptocurrencies such as Bitcoin are based. But its potential goes far beyond finance. In this module, you will explore how blockchain can be an impressive tool for transforming contract law, commercial law and intellectual property law. You will learn how this technology can interfere with notaries in certification activities.
You will also know that the concept of smart contracts, self-executing agreements, can improve the transparency and efficiency of the legal system. This is a very comprehensive program where participants understand exactly what it means to apply technology in the legal sector. I am very happy with everything I have learned. I look forward to continuing this transformation process. Deloitte can help you assess your legal department`s position on the maturity scale with an in-depth analysis of your people, processes and technology. By centralizing and analyzing key data points, you gain insights into developing a legal transformation strategy, prioritizing opportunities for improvement, and promoting adoption by key stakeholders and teams. Legal transformation is a great concept. Successful evolution requires sustainable and conscious progress. But where do you start? All legal professionals know how to use office automation tools or databases like Thomson. However, advanced knowledge of the latest technologies can modernize the operations of the most established companies and place any small business above the big names in the industry. “A person has to be a lawyer, of course, to give advice to the public, but many of these new roles won`t include them. These new lawyers will work as a team to develop technological solutions to legal problems.
They will need a completely different type of legal education and a new type of legal qualification. Now that you know the key market trends and technologies that are impacting the future of law, it`s time for you to find your place in the new context. This module provides you with a set of tools and conceptual frameworks to reinvent your career in the context of the digital transformation of the legal industry. The main objective of this program is to bring legal companies closer to the transformation required by their industry and to enrich the profile of participants by applying legal technology to their professional activity. To achieve this, we propose a journey through three areas of knowledge that will transform them into lawyers 2.0 with a critical vision of the technological landscape. These are some of the technological applications for the legal sector. Are you encouraged to transform your organization and be more than just a lawyer? Integrate new skills and assertive capacities into the legal sector.