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How Will Tech Aid Legal Work in The Future [Infographic]
Technological enhancements in robotics, ML, and AI are all set to bring a new age of automation, and legal is no exception. A new trend of legal technology is soaring where tech machines will perform daily tasks similar to or even better than humans.
According to report, the average legal department reported that 33% of its corporate transactions had been automated. Continuing the trend while managing the growing and changing demands, 55% of the legal department’s transactional work is likely to be automated by 2024. While some law firms and legal departments usually find it challenging to adopt technology productively, many of them prefer legal outsourcing services that make their path easier.
Many traditional firms have been slow adopters of legal technology. However, with the growing competition, the implementation and use of virtual solutions have increased. Like many industries, the legal field has seen unprecedented unemployment rates, immensely affecting new law school graduates and support staff. While this time has certainly imposed challenges, the rush toward tech has created unique job opportunities for lawyers and firms ready to embrace the legal industry’s future.
Over the next few years, legal technology will help ‘unfold’ the several aspects of the legal function. With the support of unified legal platforms, for example, lawyers can spend more time on strategic work, high-value — instead of the lower rungs of the legal task ladder! Other legal services, meanwhile, will be fully or partially automated with the help of AI and automation.
However, to get deeper into the insights on how tech will aid legal work in the future, let’s read about some of the fast-emerging trends and interesting facts concerning legal technology in the infographic below.
Trends and facts about legal technology:
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