As we enter 2022, many industries are flourishing, thanks to ground-breaking advancements in technology. The legal profession is one of these industries, and, over the last few years, it has been utilizing technology to thrive. It is no secret that the pandemic accelerated digital transformation for many companies. Legal technology was evolving far before the pandemic and has only been enhanced by it. Here are some ways the legal profession is using technology to prosper today:
LAWYERS ARE INCREASINGLY ADOPTING NEW TECHNOLOGY
Many lawyers are open to adopting and using new technology in their legal practices. This is partly because we can no longer resist technological changes. This industry and its people are not opposed to keeping up with the legal trends, using technology where possible to make their processes more streamlined and efficient.
With the pandemic making technology a considerable part of remote working and life in general, many people are more open to and expecting newer technologies like virtual meetings to only be further developed. This means adopting new technologies and watching out for newer developments in the tech space.
LEGAL TECH IS IMPROVING COLLABORATION
Many companies have adopted legal technology to help remote workers access data more efficiently and quickly. Digitized paper trails, online approval processes, and implementing practices such as templated contracts have helped improve collaboration between teams. Using technology has also allowed legal departments to gather and analyze relevant data from projects such as budgets, processes, and real-time status updates.
In addition, when most legal firms adopt new technologies, they look for software that allows them to be appropriately compliant, thanks to features such as contract life management and entity management. This further enhances collaboration if and when an audit is required.
IMPROVED FOCUS ON CYBERSECURITY AND DATA PROTECTION
While the legal profession and industry thrive on technology, there is always a concern regarding data protection and security. Cybersecurity has been a consideration since we've been storing data online. With remote working becoming a norm in the last couple of years, cybersecurity has become a significant focus for many organizations. Companies are mapping out protocols and action points in case of any data breach. The focus has become more prominent, with company data being accessed from various geographic locations and IP addresses within the organization.
LEGAL TECH IS ENABLING GENERAL COUNSEL TO BECOME MORE EFFICIENT
The general counsels of organizations are utilizing legal technology to become more efficient by streamlining processes and templating documents where possible. They have also been using technology for client billing and keeping track of files digitally. Furthermore, many use apps to keep track of meetings, tasks, and important documents and emails. This allows the general counsel to focus on more business-oriented duties and projects, managing and using their time more efficiently.
A NEW GENERATION OF LAWYERS IS COMING OF AGE WITH HIGH TECHNOLOGICAL EXPECTATIONS
Many upcoming lawyers are well-versed in technology and how it operates for and within their profession. This new generation of lawyers is coming of age and is expected to know and understand the digital world. With newer technologies being introduced and developed like AR, VR, and the Metaverse, upcoming lawyers must be up to date on their technological knowledge.
Even when the pandemic ends, many legal professionals may not be going back to the same way they practiced before. The rapid digital transformation that the world has gone through will continue to shape the world of legal technology and the industry. People will continue to be open to the new technologies introduced to them while using current ones to thrive in the industry.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.