Education & Career Trends: July 4, 2024
Curated by the Knowledge Team of ICS Career GPS
Excerpts taken from an article published on linkedin.com
To be labelled a “legal” professional in today’s world, one has to have experience in numerous fields in addition to law. The legal industry has undergone significant disruptions over the last several years, elevating the significance of technology to unprecedented levels. This trend is poised to accelerate, making familiarity with the latest developments in legal technology essential for legal professionals. As the industry increasingly relies on technology, non-traditional legal roles within firms are also on the rise.
What does it mean to be a Legal Technologist?
The field of law has continually evolved with innovative approaches to resolving client issues. Legal technologists integrate new technical developments with established legal practices, creating efficient solutions. They collaborate with clients to develop and implement innovative legal strategies. Roles such as Legal Operations Analysts and Legal Engineers offer advice, support, and products that deliver swift and cost-effective solutions. However, the essence of their work remains client-focused, blending legal expertise with broader skills.
Diverse Roles and Wider Skillsets in Law
To meet diverse client needs, firms benefit from hiring experts with varied skills, including operational proficiency, data science, data architecture, product development, and management. Digital literacy is becoming a critical requirement. Proficiency in technical skills beyond traditional language capabilities, such as Excel and other digital tools, is now expected.
Experience Required for Legaltech Teams
Understanding a firm’s operations and maintaining high service standards is crucial. Commercial awareness and broad technical skills help identify industry trends beneficial to clients. Genuine enthusiasm and curiosity are key traits for success in legal technology roles, enabling professionals to devise innovative solutions to complex issues.
Technology Trends in the Legal Industry
Several technology trends are shaping the legal industry:
- Contract Management: Increasing focus on enterprise legal management (ELM) to connect legal processes with broader enterprise systems.
- Document Automation and Review: Software-driven document collection, evaluation, and storage.
- Electronic Signatures: Growing use due to the hybrid work model.
- Litigation Management: Need for centralised systems to handle increasing corporate litigation.
- Compliance & Entity Management: Rapid growth driven by regulatory changes.
- AI/ML and Blockchain: Advancements in smart contracts and legal research.
- Cybersecurity: High demand for secure SaaS implementations.
- Value Alignment: Legal departments aligning with business objectives to enhance customer service.
Conclusion
The legal profession is undergoing a significant transformation, driven by technology and the need for diverse skills. Legal professionals must adapt to these changes, embracing new roles and technological advancements to stay relevant. The future of law promises greater integration and innovation, offering exciting opportunities for those ready to evolve with the industry.
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(Disclaimer: The opinions expressed in the article mentioned above are those of the author(s). They do not purport to reflect the opinions or views of ICS Career GPS or its staff.)
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