Millennials are blessed with innovative minds and breakthrough technology that is creating a revolution in every field. Artificial Intelligence, Smart Contracts, machine learning, cryptocurrencies are some of the few innovations that have taken the legal world by storm. The lightning speed with which technology has so far transformed the legal domain globally has been phenomenal.
But it doesn’t stop there. It is believed that technology will continue to change the course of law, in a more efficient manner. It is a possibility that in a few years from now, lawyers will rely less on emails and traditional forms of communication. Instead, they’ll opt for such platforms that will enhance their ability to find and share knowledge with their colleagues and clients in a faster manner.
Enterprise social networks, mobile technologies, collaborative platforms, expert systems and enhanced search technologies will provide lawyers with an enhanced ability to quickly find the information they need and then to collaborate real-time with others in order to complete tasks and projects. At the same time, social technologies and processes will have a significant impact on the various departments and functions within law firms including marketing, business development, recruitment, professional development and knowledge management.
Lawyers need to recognize that innovation can come from anywhere in the firm. Even the lowliest associate may have an idea or suggestion that can have a substantial impact on the firm’s bottom line. Law firms need to recognize this and develop technology platforms that enable everyone to have a voice and impact on the future of the firm.
Whilst legal technology is still in its infancy, its rise is fuelled by a great ambition for it to grow and play an even more significant role in daily legal life, eventually carrying out more complex legal work. There are murmurings that the technology could even grow to replace lawyers entirely, as its vast database, lightning speeds, and cost-efficient processes will make the role of a traditional lawyer entirely redundant. Whether that it is possible, or whether the status of lawyers is too prestigious to overcome, remains to be seen. What is for certain though, is that if lawyers want to continue doing what they do best and provide excellent client service, they will need to embrace the benefits that technology offers, even if that means accepting the potential risks as well.
Technology has sure made legal simple and will continue to if given the right substance!
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