After earning a few blisters from their time in the “cost reduction” hot seat, GCs are now putting outside counsel on the spot. In-house legal teams save hours every day by automating legal research, contract review, drafting legal documents and other tasks. It only makes sense that they ask law firms, “What is your plan to automate legal work and adjust prices accordingly?”
I mention this here as just one of the countless ways technology is reshaping the legal profession. And lawyers’ roles and responsibilities continue to evolve along the way, changing the rules of how to proceed. Here’s how lawyers who stay open-minded can adopt proactive strategies to meet technological change head-on and thrive in today’s digital era:
Show customers how you use technology to their advantage
Do customers and business stakeholders know how to use technology to their advantage? Make sure they do!
Leveraging automation is the best way to deliver efficiency and productivity, with generative artificial intelligence alone having the potential to automate up to 44% of the legal tasks in the USA Having used technological tools myself, it is not surprising almost 7 out of 10 Corporate counsel expects their law firms to use cutting-edge technology, including generative artificial intelligence. Similarly, 6 out of 10 lawyers from large firms believe that their clients expect them to use such tools.
Don’t hesitate to share that you use an AI-powered legal research platform, contract management software, generative AI, and other tools for the benefit of your customers. KPIs from audit reports detailing reduced costs and increased efficiency are particularly compelling to potential clients.
Technology education invests in your professional growth
Sailors need to know as much about wind as they do about boats to make a safe voyage. Today, lawyers often need to know almost as much about technology as they do about the law to be successful.
The ubiquitous nature of technology encourages lawyers to leverage more advanced tools like AI and data analytics to their and their clients’ advantage. Ongoing success requires continually expanding your technological knowledge and skills through seminars, workshops, conferences and other educational opportunities. Learn about new tools and techniques to invest in your professional growth and stay on top of your game.
Adhere to high ethical standards in the digital area
As technology develops, so do accompanying ethical considerations that land right in the legal lap. IN a recent study85% of GCs say their department is morally responsible as the primary driver of company values, and 79% say they serve as the conscience of the company.
Lawyers must prioritize ethical behavior in the digital world to build stakeholder trust. This includes ensuring client confidentiality through secure data handling practices and ensuring compliance with privacy regulations. Guiding customers safely through the coming changes requires the development of new frameworks for compliance with regulations and ethical guidelines related to the use of artificial intelligence.
Use practical collaboration tools
Services that clients used to consider exceptional, such as returning calls within 24 hours, are mere table stakes today. Trusted attorneys are great communicators who rely on modern tools to collaborate that deliver real-time updates, instant responses, and seamless interaction every day. Digital tools such as contract negotiation software, secure messaging apps, video conferencing and live chatbots are increasingly helping lawyers improve accessibility and convenience.
Stay updated on the latest technology integrations
By staying informed about the latest technology integrations in your organization, you can continue to streamline multiple processes, improve results, ensure financial accountability, enhance the customer experience, and deliver the services that make you stand out.
Remember: The future belongs to those willing to adapt! How do you stay ahead of the curve to thrive in your career? What strategies do you use to increase productivity and efficiency in your business or organization? Have you integrated automation into your legal practice?
Olga V. Mack is VP at LexisNexis and managing director of Parley Pro, a next-generation contract management company that has pioneered online negotiation technology. Olga embraces legal innovation and had dedicated her career to improving and shaping the future of law. She is convinced that the legal profession will appear even stronger, more resilient and more inclusive than before by embracing technology. Olga is also an award-winning general counsel, operations professional, startup advisor, public speaker, adjunct professor and entrepreneur. She founded Women serve on boards movement advocating for women to join the boards of Fortune 500 companies. She authored Get on board: Earn your ticket to a board seat, Fundamentals of Smart Contract Securityand Blockchain Value: Transforming Business Models, Societies and Communities. She is working on Visual IQ for Lawyers, her next book (ABA 2023). You can follow Olga on Twitter @olgavmack.