This article looks at the findings of The Looking Glass Report 2016, a Winmark & Eversheds study into Digital Technology and the Enhancement of Legal Services.
One of the clear messages that comes through is how difficult it is for busy in-house counsel to keep abreast of new developments. There already exist myriad technological solutions which can help a legal team work more efficiently and most of these get faster and smarter every year. This landscape will only get harder to survey with the advent of AI functionality and the imminent arrival of blockchain.
Being aware of the opportunities is, of course, only half the story. As and when you identify that the time is right to take on board one of the new systems there is a project to be managed to cover the selection and adoption process. A successful implementation of a new product is every bit about about winning the hearts and minds of the system users as it is about choosing the right solution.
There is enormous opportunity in this area for in-house lawyers but also risk, either of missing the boat, or getting on the wrong boat altogether. In my view it makes sense to fund some external expert guidance to help make the right choices. Maybe an annual review of the state of the market as it pertains to your business needs?
Furthermore, more than half (51 per cent) of in-house lawyers said they felt out of their depth when making procurement decisions for new technologies. Forty-four per cent worried about their department's resistance to change.