From the outside, law may appear to be a conservative profession and to some extent it is. Nevertheless, like many other businesses, lawyers have had to adapt to the technological revolution that we are currently living in and embrace new technologies like Artificial Intelligence, blockchain, smart contracts and so on, to stay ahead of the curve.
‘Legaltech’ is still relatively new so much so that its definition remains ill-defined. Nonetheless, legal technology is shaping tomorrow’s legal profession and lawyers who embrace it will be better positioned to innovate and conduct their work in a more efficient manner for their clients.
The COVID-19 pandemic has been a real test for businesses and the way that they have traditionally offered their services. This form of disruption takes no prisoners; “adapt or perish, now as ever, is nature’s inexorable imperative”. It is about getting comfortable with being uncomfortable because, as technology continues to advance, more legal services will become automated
Lawyers are a cautious bunch and not technological first movers. Their caution, however, does not mean the market or the clients are as cautious or as patient. Events like Corona may just be the tipping point.