This article is one of four in an annual Vantage Point series where in-house counsel identify key risks and opportunities in the year ahead
The need for general counsel (GC) in 2020 will be to create future ready legal teams that operate on an efficient and reliable technological platform. Technology is changing the way we work as lawyers. Just as in 2019, we will see an increased focus on technology in the new year.
The legal industry has been fairly slow when it comes to digitalization and adopting technology. But in 2020 we can expect technology to be the buzzword at all GC discussion platforms. The focus will be on the areas of automation, AI and analytics, which will reshape service delivery. There will be a shift from traditionally run legal departments to them becoming technology-driven, and this transition will happen this year.
These emerging technologies will help to make our life easier with dashboards, reports, compliance scores, turnaround time (TAT) trackers, monitoring tools and data management that provide all stakeholders with accessibility.
The outcome of the digital transformation will be phenomenal: process efficiency, better performance, cost saving, better quality output and a higher level of service delivery. The limited IT skills of most legal counsel result in time and cost spillovers in software deployment initiatives, as often end users without experience in launching such projects keep shifting the goal posts for the IT developers.