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Trends in Legal Tech 2019
Top Trends, Technologies & Examples
Legal Tech Market & Next Steps
The Growing Legal Tech Market 2-4
Funding and Investments 5-7
Acquisitions in Legal Tech 8-10
Usage of Legal Tech 11-14
Legal Department of the future 15-16
Legal risks for legal leaders 17
Legal Tech Trends 2019 Report
Top 10 Legal Tech Trends in 2019:
AI is maturing. We will see breakthrough products 20-24
Voice Assistants is a legal challenge and gift 25-29
Increased Automation in Legal Industry 30-24
BlockChain Interest Reaches Critical Mass in Legal 35-38
Smart Contracts Race Among Law Firms 39-43
RegTech and its Role in Legal World 44-47
Focus on Data Ethics, Governance and GDPR 48-52
E-learning and Gamification 53-56
Managed Legal Services 57-60
Legal Design & UX 61-64
899
Source: https://angel.co/legal-tech-1
Mapping the Legal Technology Landscape
There are many more than listed here, but the map gives an idea of major
players in key legal tech niche industries.
Source: Legalexecutiveinstitute.com
Biggest Legaltech Funding in the Past Year - 1/2
Source: Lawgeex.com
Biggest Legaltech Funding in the Past Year - 2/2
Source: Lawgeex.com
Legal Technology Investment Booms
● In-house legal department spending on
information technology is growing 25% faster
than spending by businesses as a whole,
according to a new guide to the burgeoning
‘lawtech’ market.
● The LegalTech 2018 Buyer’s Guide, published
by Israel-based artificial intelligence business
LawGeex, suggests that lawtech businesses
are attracting record levels of investment –
$49m in January 2018 alone – and are rapidly
consolidating.
● The number of companies offering legal AI
systems has leapt from 40 to 66 in the past
year and the market in legal analytics systems,
which extract knowledge from data, is
expected to grow four-fold to $1.8bn by 2022.
Source: Lawgazette.co.uk and Lawgeex.com
Biggest Legal Tech Acquisitions: eDiscovery
Source: Lawgeex.com
Biggest Legal Tech Acquisitions: Contract
Management, IP, Document Drafting
Source: Lawgeex.com
Biggest Legal Tech Acquisitions: Matter
Mangement, E-Signature, Research, Dispute
Source: Lawgeex.com
45% of legal teams report increased usage
of legal tech products
Forty-five percent of legal
departments report increasing
usage of legal technology, with the
largest increased usage reported
by small legal departments (52%)
where there are fewer staff
available to manage legal work,
and large legal departments (63%).
Source: SerengetiLaw
73% of Legal Teams in the Nordics have not appointed
a person to be in charge of technology or automation
Source: ALTNordic & Experticon
Most Tools Used are Simple Tech - not Legal Tech
Source: ALTNordic & Experticon
26% of legal teams in the Nordics do not have plans to
digitize nor automate processes and work
Source: ALTNordic & Experticon
● Over the past 10 years, unprecedented
disruptions—including the deregulation of the
practice of law and advancements in
technology—have been changing the face of the
legal sector.
● Law firms have already begun to feel the impact of
these disruptions. And corporate legal departments
are increasingly being asked to reduce costs and
operate more efficiently than ever before.
● Legal is increasingly being integrated into vital
business operations instead of being run as an
autonomous department.
● In-house legal teams is becoming more like an
internal law firm that drives economic value as an
internal commercial function.
Drivers of Change in the Legal Sector
Source: Deloitte
The Legal Department of the Future
Source: Deloitte
Top Risks for Legal Leaders
● Accelerating business change. Corporate processes, services and operations are
fundamentally changing (fueled in part by digitalization), which creates new risks and makes
existing risks harder to manage. Legal and compliance leaders must keep up with persistent
change in corporate activities and business models and plan for skill shortfalls within their own
teams;
● Digitalization and technology risk. Leaders must keep up with rapid advances in technology
capabilities as their organizations digitize assets (i.e., turn them from analog to digital form) and
digitalize the business (i.e., use digital technologies to change their business model and
provide new revenue and value-producing opportunities);
● Geopolitical and regulatory volatility. Legal and compliance leaders need to provide stability
amid ever-present geopolitical volatility — both within and between jurisdictions, regulatory
bodies and enforcement authorities — and provide leadership as they manage sweeping new
regulations such as those on data privacy;
● Transparency and public expectation. Consumers are keenly focused on issues of corporate
culture and ethics amid constant headlines about corporate missteps and individual
wrongdoing;
Source: Gartner
Top 10 Legal Tech Trends 2019
Top 10 Legal Tech Trends 2019
1. AI is maturing. We will see product breakthroughs in Legal Tech
2. Voice Assistants is a legal challenge and gift
3. Increased Automation in Legal Industry
4. BlockChain Interest Reaches Critical Mass in Legal
5. Smart Contracts Race Among Law Firms
6. RegTech and its Role in Legal World
7. Focus on Data Ethics, Governance and GDPR
8. E-learning and Gamification
9. Managed Legal Services
10. Legal Design & UX
1. AI is maturing. We will see product
breakthroughs in Legal Tech
AI has the potential to transform the world. We interact with artificial intelligence on
a daily basis. Now It’s time to become a game changer for legal industry.
Almost all Large Law Firms Consider AI if
Not Already in Work
● The benefits of AI are primarily faster and more accurate prediction
● Kira systems received a USD 50M series A investment in Sep. 2018.
Concord received one on USD 25M in Nov. 2018.
● Today’s AI technology is best at accomplishing narrowly defined tasks
and work that are time-consuming and repetitive. While machines
can process, store and recall information much faster than people,
human lawyers still need to apply critical thinking to that information.
● According to a survey of more than 100 law firms by real estate
advisory CBRE, 48% are already using AI software in their businesses
and 41% have imminent plans to do the same.
● The survey found 61% of the companies already using AI are doing so
to generate and review legal documents. It also revealed 47% are
using AI for due diligence purposes and 42% for research. About a
third (32%) are using AI to carry out compliance and administrative
legal support.
Source: Computerweekly.com, Lawtechnologytoday.com, Lexology.com, Deloitte.com
● Analyzing thousands or millions of
documents is time consuming and very
expensive. The computerized use of keyword
search is too imprecise a tool for extracting
relevant documents from a huge pool. As the
number of documents to be reviewed for a
typical lawsuit increases, the legal profession
needs a better way.
● Predictive discovery or predictive coding is a
machine-based method that rapidly can
review a large pool of documents to
determine which are relevant to a lawsuit.
● Predictive coding has been mandated in
certain cases following Brown v BCA Trading
and others [2016] EWHC 1464 (Ch).
Use Case: Predictive Coding & E-Discovery
Source: FTJournal.com, Lawsociety.org.uk and recommind.com
● Finding relevant cases while doing legal
research used to be a time-consuming process.
Now, AI allows lawyers to ask questions in plain
language and get instant answers after the
technology reviews resources such as
regulations, case law, secondary sources and
more.
● AI significantly reduces the time that lawyers
spend on legal research.
AI solutions, such as Ross Intelligence, can find
document and cases in seconds, which would
take a human many hours of work.
● Legal tasks performed by new law school
graduates, junior attorneys and paralegals can
be automated with tools like this.
Use Case: Legal Research
Source: NYTimes and Rossintelligence
Legal AI Landscape 2018
Source: Lawgeex
2. Voice Assistants in Legal Operations,
Courts, Privacy Complications
A brave new world of voice technology is a double edged sword.
Your smart voice assistant can be used for many things - also against you in court.
Voice Assistants in Legaltech
● Need to write a legal document without entering the keyboard? Just tell. Want to out
how many cases your team handled last month? Just ask.
● In 2017, 30 million voice assistants were sold in the US alone. Amazon’s Alexa and
Google Assistant are among the popular ones.
● ComScore predicts that 50% of generic search queries will be from voice by 2020.
● Voice assistants are helping lawyers in their everyday tasks
● There are products with specialized legal vocabulary with million legal words included.
● Voice-to-text processing is powerful, easy-to-use and well-working today.
● Legal professionals can be productive from anywhere. In the car, airport etc.
● Use voice assistance to make meeting notes quickly.
● Most legal products today are text-based. Not voice-based.
● Voice is to a large extend, a brand new channel for companies to learn about their
customers through audio-recording and the use of predictive analysis
Source: Law.com, Americanbar.org and lawsitesblog.com
● While voice technology offer great potential for improving
quality of life, they also expose users to privacy risks
by perpetually listening for voice data and transmitting it
to third parties
● Voice technology can create profiles of your
whereabouts, habits and interactions.
● For example, what if an employer is tracking
employees voice mails for certain words and record
these?
● Or what if your voice assistant record what is happening
in your home or workplace without your knowledge?
● In October 2018, Turkish officials announced that they
have an audio recording of the alleged killing of journalist
Jamal Khashoggi from the Apple Watch he wore when he
walked into the Saudi Consulate in Istanbul.
Voice Technology & Privacy Complications
Source: Law.com, Americanbar.org and lawsitesblog.com
● Thomson Reuters has introduced Workspace
Assistant, a new way for lawyers to access and
perform time management functions via Workspace
using Amazon Echo or other Alexa-enabled devices;
● Workspace Assistant works only with Workspace, an
enterprise-level product for large law firms that
integrates information from the financial and matter
management platform 3E and other Elite and
third-party products;
● Workspace Assistant allows lawyers to enter and
track billable hours using voice-only inputs.
Functions include the input of billable hours to a
specific client matter, the use of a timer to calculate
and post time spent on a given client matter, and the
ability to ask Alexa various questions that relate to
billable hours;
Use Case: Digital Billing
Source: Thomsonreuters.com and lawsitesblog.com
● Nuance’s Dragon Legal has more than 400
million words from legal documents
● Accuracy is up to 99% on first time usage
● It allows you to automatically create legal
documents by voice and without using a
keyboard
● Applications providing powerful voice software
include Microsoft’s Speech Recognition app,
Apple’s Enhance Dictation feature and
Nuance’s Dragon Legal software.
● Solutions like this can help to enhance
documentation and reporting for a mobile
workforce.
Use Case: Legal Writing by Voice
Source: Nuance.com
3. Increased Automation in Legal
Industry
Automation is getting deeper inside the legal industry, jeopardizing the work of
lawyers, who can be replaced with lawyer-bots
● McKinsey estimates that 22% of a lawyer’s job and 35% of a law clerk’s
job can be automated.
● As of 2018, there were over 1,340,000 licensed lawyers and 290,000
paralegals in the US alone.
● AI-powered document discovery tools have had the biggest impact on the
field. By training on millions of existing documents, case files, and legal
briefs, a machine-learning algorithm can learn to flag the appropriate
sources a lawyer needs to craft a case, often more successfully than
humans.
● These programs are, simply put, changing the way legal research is
carried out.
● Document discovery software, or “virtual associate”, is another example of
legal automation.
● Many law schools, e.g. Harvard, have created new programs to teach the
next generation of lawyers programming and how to use these
sophisticated tools.
● Many companies are still far behind on legal and document automation
Legal Automation is Indefinite
Source: Technologyreview.com and Deloitte.com
Document Automation for In-House
Teams● Speed. Creating a contract using document automation takes a few minutes. You can
also create a suite of related documents at the same time, based on the same answers.
It can also be used, with the right contracts, to allow the business to create a contract
without needing to refer to legal;
● Risk management. Unfortunately we all regularly make mistakes. Document
automation removes many of those opportunities for errors;
● Better contracts. Template agreements are generally getting longer and more
unwieldy. As issues come up in negotiations, points are added to contracts, and it is
rare that the template gets shortened;
● Iterative improvements. Document automation has an interesting side effect. When
legal teams create or update their templates, they will often go through an epic process
of drafting, feedback (aka drafts sitting on team-mates’ desks for weeks) and internal
stakeholder management that, like a law of physics, seems to always take six months;
Source: Radiantlaw.com
Use Case: Document review in seconds what
took lawyers 360.000 hours
● JPMorgan announced earlier this year that it is
using software called Contract Intelligence, or
COIN, which can in seconds perform document
review tasks that took legal aides 360,000 hours;
● The software reviews documents in seconds, is
less error-prone and never asks for vacation;
● Junior lawyers/paralegals used to work through
these documents to find relevant information. This
can be completely automated.
● The firm recently set up technology hubs for
teams specialising in big data, robotics and cloud
infrastructure to find new sources of revenue,
while reducing expenses and risks;
Source: Technologyreview.com and Independant.co.uk
● CaseMine leveraging AI to unearth latent
linkages between case laws thereby
making legal research more in-depth and
comprehensive.
● A legal technology company based in
India, builds on document discovery
software with what it calls its “virtual
associate,” CaseIQ.
● The system takes an uploaded brief and
suggests changes to make it more
authoritative, while providing additional
documents that can strengthen a lawyer’s
arguments.
Use Case: Get your own ‘virtual associate’ that makes your
document more authoritative and with stronger arguments
Source: Casemine.com and Technologyreview.com
Blockchain has the potential to disrupt legal services. From managing citizens to
property, the applications of Blockchain are as wide as they are transformational.
4. BlockChain Passes Peak of Hype.
Reaches Mass Adoption & Interest
● The British edition of The Economist called
smart contracts “the most progressive
technology implemented on the blockchain,
which will gain momentum”;
● Law firms are opening themselves up to a
whole range of other types of business to
remain relevant in the digital age. This
includes more sophisticated functions in due
diligence and deal-making, as well as the
potential to track down cryptocurrency in
divorce settlements and provide guidance for
banking on stocks running on blockchain;
● While it’s clear blockchain is a technology
that will affect the legal industry, the
repercussions are still unclear;
Blockchain Interest and Adoption
Source: Raconteur.net and PWC
● Maersk, IBM and 90+ partners moving their work to a blockchain
in a collaboration called TradeLens
● The EcoSysteem is built on open standards and can help to reduce
cost per transaction up to 40%
● Partners include port and terminal operators, container carriers,
customs authorities, cargo owners, transportation and logistics
companies and many more.
● Using blockchain smart contracts, TradeLens enables digital
collaboration across the multiple parties involved in international
trade
● The result is a much more lean and transparent global supply
chain, reduced costs by having transparent risks shared and less
use of middlemen, and data presented real-time to all partners
Use Case: Digitizing Trade with Blockchain
(Maersk <> IBM)
Source: Maersk and Forbes
● Global Legal Hackathon 2018, which was attended by
members of more than 30 countries from around the
world, presented several projects that implement
blockchain in the legal system
● One example is a project INCO-herent, created by a team
from USA
● Their mission is to provide a clear understanding of how to
choose and verify appropriate use of Incoterms when
buying or selling across international borders to more
accurately capture costs and risks
● INCOtelligent smart contracts help your business navigate
INCOterms for international purchasing contracts.
● By using a set of guided questions, INCOtelligent smart
contracts help you select the right INCOterm for your
business
Use Case: Buying & Selling Across Borders
with verified Incoterms
What are Incoterms?
Incoterms (International Commercial Terms) are a
series of agreed commercial terms published by the
International Chamber of Commerce (ICC) They are
widely used in international commercial transactions
and procurement. Their use is encouraged by trade
councils, courts and international lawyers.Source: Globallegalhackathon.com and Irishtechnews.ie
Use Case: Verify Signatures on Legal Documents
● Currently, notary publics (or general
notaries) are used to confirm and verify
signatures on legal documents, such as
deeds and contracts. Using blockchain
technology, these documents can be
preserved digitally as part of a digital
ledger.
● Blocknotary is a company that seeks to
apply blockchain technology to legal
documents, and offers “timestamps and
fingerprints for media files”, thereby
eliminating the need for the rubber stamp
of today’s notary public.
What is a notary?
A notary is a person licensed by the government to
perform acts in legal affairs e.g. signatures on
documents.
Source: Blocknotary.com and Techradar.com
5. Smart Contracts Race Among Law
Firms
Largest law firms develop industry-wide standards for legal smart contracts
● Blockchain and smart contracts will fundamentally
change our societal systems and structures. They
will significantly redistribute power and wealth.
That’s the decentralizing function of blockchain.
● More and more law firms are investing in
technology, developers, smart contracts and unite
in specific consortiums, e.g. the Accord Project
and the Enterprise Ethereum Alliance.
The purpose of these consortiums is to establish
best practices for smart legal contracts.
● The legal industry is working on to employ and
deploy smart contracts that could automate many
functions
Smart Contracts Are Booming
Source: Hackernoon.com and Applicature.com
Smart Contracts: Simple to Complex
Source: Applicature.com
● The Accord Project develops technical standards
such as data schemas, models, templates, a
smart legal contract programming language and
a contract execution engine that embody legal
best practices and work towards a common,
universal, implementation for smart legal
contracts;
● Smart legal contracting needs a common
implementation. The Accord Working Groups are
comprised of 36 leading law firms that help
establish best practices for an industry standard
smart legal contract layer;
● The Accord Project incubates an open-source
protocol, enabling applications to be built on a
common software foundation for smart legal
contracts;
The Accord Project Use Case
Source: Accordproject.org and Legalweek.com
● The Enterprise Ethereum Alliance is a
nonprofit organization connecting Fortune
500 enterprises, startups, academics, and
technology vendors with Ethereum
subject-matter experts.
● From global such as BBVA, Credit Suisse
and JPMorgan to blockchain startups and
tech vendors like Microsoft, the consortium
has attracted many big names..
● Ethereum is an open-source, public,
blockchain-based distributed computing
platform and operating system featuring
smart contract functionality.
● Running on Ethereum smart contract
functionality is Ether, one of the most widely
known and trade cryptocurrencies.
Enterprise Ethereum Alliance Use Case
Source: Entethalliance.org and Legalweek.com
6. RegTech and its Role in Legal
World
RegTech, which begin to develop 11 years ago, can be a next big thing for legal
industry. For law firms, RegTech provides a wealth of opportunities
The Adoption of Regtech in Law Firms
● The regulatory environment has changed a lot since 2007 when the US was hit by the financial crisis. Many
people blamed the problems of regulators, which poorly controlled the banks.
● According to IBM estimates, regulators are now producing at least 20,000 new requirements per year, and a full
set of rules and regulations will exceed 300 million pages by 2020.
● Companies are turning to technology to meet the growing regulatory demands
● According to Reuters, the market for RegTech will be $120 billion by 2020.
● In the long-term perspective, RegTech adoption helps protect an organization’s financial health and allows it to
maintain market agility and integrity.
● Regulatory technology, or RegTech, offers e.g. banks automated solutions that can speed up the cumbersome
process of vetting clients and transactions, which is necessary to prevent money laundering and other financial
crimes.
● Utilization and knowledge of RegTech solutions can also help a firm position itself as an authority in the field,
boosting its reputation.
● Additionally, the adoption of RegTech for its own compliance and business operations could give a firm the ability
to increase both its efficiency and scalability;
● Firms who can show they are innovating to provide cost and quality benefits to their clients will stand out among
its competitors. The flipside of these opportunities is the risk of losing out to firms and vendors that are taking full
advantages of these technologies in their operations;
Source: Biglawbusiness.com and Encompasscorporation.com
● Cryptocurrencies have become part of the modern
criminal’s toolkit. They are being used to fund a growing
array of criminal activities.
● Going beyond their role in enabling trade on dark web
marketplaces, cryptocurrencies are used in extortion,
ransomware cases, money laundering and fraud.
● Elliptic describes itself as the global standard for
blockchain intelligence, and has provided RegTech
services for the financial sector since 2013.
● The startup identifies criminal activity related to
cryptocurrencies, e.g. by examining blockchain
transactions as well as providing proof of identity for users
of cryptocurrencies.
● Their clients include financial organisations, but also law
enforcement agencies who use Elliptic’s data to
investigate suspicious activity.
Use Case: Identifying cryptocurrency-enabled
criminal activity.
Source: Disruptionhub.com and Elliptic.co
● Apiax is a Swiss RegTech startup,
transforming complex financial
regulations into digital compliance rules,
which are constantly up-to-date and
verified.
● The rules are consumable via an app or
can be integrated directly into
processes through an API.
● Using this type of technology can help
legal and compliance teams provide full
visibility and control over their digital
rule sets and empowers client advisors
to serve their clients more efficiently and
in a compliant manner.
Use Case: From complex financial regulation to
digital compliance rules ready to be implemented.
Source: Crunchbase and Apiax
7. Focus on Data Ethics, Governance
& GDPR
In an increased privacy aware society, GDPR is forcing companies to become more
ethical in how they handle data.
About GDPR
The General Data Protection Regulation
(GDPR) is a regulation by which the European
Parliament, the Council of the European Union
and the European Commission intend to
strengthen and unify data protection for all
individuals within the European Union.
The regulation became enforceable throughout
EU from May 25 2018.
GDPR and Data Ethics
● Big data has spurged almost monolithic tendencies among
tech-giants, such as Google, Facebook and Amazon.
● Monetizing data has become key driver for startups and
investors worldwide - often sidestepping vital privacy
rights.
● GDPR has puts focus on data ethics and governance.
● IT forces all businesses to follow a stricter code of ethics to
collect, manage and store personal data.
● While the GDPR requirements are detailed and tough to
implement, the foundation is good data ethics and
management.
● GDPR is not about checking of boxes, but a laung/haul
cultural change to data. Privacy by Default and Privacy by
Design forces companies and people to change their
ethics towards data
● ePrivacy will most likely come in 2019 (and be part of
GDPR).
Source: Infolawgroup.com and Pwc.co.uk
Compliance & ethical behavior a bigger
driver for change than technology
● Lapses like Caterpillar’s alleged $2 billion tax fraud exposed by
a whistleblower in 2013. Or Volkswagen’s diesel emissions
tests for 11 million cars (its settlement tab is $14.7 billion and
growing). And Wells Fargo’s ploy to open as many as 3.5
million potentially fake bank and credit card accounts in
customers’ names since 2002, incurring a $142 million national
class action settlement.
● Machine learning algorithms are turned loose to look for
suspicious patterns of behavior.
● Companies are forced to clean up their act, or double-down on
any malfeasance that’s revealed.
● AI presents a range of ethical, legal, and regulatory issues.
Real-world biases risk being embedded into training data.
Since the real world is racist, sexist, and biased in many other
ways, real-world data that feeds algorithms will also have these
features—and when AI algorithms learn from biased training
data, they internalize the biases, exacerbating those problems;
Source: qz.com
● Convercent is an ethics and
compliance software provider that
helps companies instill ethics at the
core of their organizations;
● The products they provide weaves
ethics and values into everyday
operations.
● Its Ethics Cloud Platform is comprised
of a suite of applications covering
board reporting, whisteblower
channels, case management, policy
management, online training, conflict of
interest and more.
Use Case: Proactive Ethics & Compliance Mgmt.
Source: Convercent.com and Crunchbase.com
● Secure Privacy is an online
compliance company, which help
companies setup privacy banners,
install online privacy policies and
communicate online data practices to
website visitors
● The solution include a powerful
scanning feature, which scan all
cookies and tracking technologies on a
website.
● Using the scanning technology,
companies can see what plugins they
use by which category and get an
assessment whether their website is
GDPR and ePrivacy compliant.
Use Case: Online GDPR & Compliance Scanners
Source: Secureprivacy.ai
E-learning and gamification looks highly promising for the legal industry as we’ve
seen a wave of fun and playful solutions come to market.
8. E-learning and Gamification
E-learning and Gamification in Legal Industry
● Gamification means to add game-design elements, e.g. point scoring, competition with others,
rules of play in a non-game solution.
● The purpose of adding gamification can be to improve user engagement, increase
organizational productivity, ensure more people take learning course etc..
● E-learning based training doesn’t have the time and location requirements that classroom
based training has. Studying can happen at home, during office downtime, etc. at the
employees’ own pace.
● Since training happens on-demand and can be served through web interfaces, it can be used
on any kind of device: desktop, laptop, tablet or even a smartphone. A lawyer can study while
at court waiting for the judge to arrive or the jury to come back with their decision, or even while
commuting or waiting at the airport to catch a flight.
● It’s great for continuing legal education (CLE).
● Why not transform then monotonous tasks and administrative actions to challenging games,
making it enjoyable? That is exactly the premise behind gamification.
Source: Efrontlearning.com and Advocatus.dlapiper.hu
● Learningbank has a digital GDPR solution that
enables you to document training concerning
GDPR and incorporate the training in future
onboarding processes.
● The learning game combines gaming
mechanics, involving storytelling and
result-oriented learning content.
● GDPR Awareness consists of 25 minutes of
bite-sized learning, ensuring that employees
get well equipped for abiding by the personal
data regulation.
● The product focus on involvement rather than
just informing.
● It also sharpens the ability to reflect on
“common sense” rather than paragraphs.
Use case: Learn compliance & GDPR with a game
Source: Learningbank.dk
● Praktio provides practical online
interactive contract training. It
allows legal departments and law
firms to learn how to draft,
analyze and negotiate contracts.
● It is a safer and cost-efficient
way to learn the basic structure
and pitfalls in contract drafting
and reviewing.
Use Case: Learn to draft and review
contracts with gamification
Source: Praktio.com
Legal teams are under pressure. They are on side facing an increased regulatory
pressure, while being forced to meet those challenges with fewer resources.
Managed legal services (MLS) is a rising trend, which aim to streamline legal
operations and reduce IT spend, while companies get access to new technology.
9. Managed Legal Services
Source: Experticon.com survey, 4cassociates.com and Inhouselawyer.co.uk
Managed Legal Services for In-House Teams
● Conventional service delivery methods are simply no longer sustainable in many cases.
● All major companies are facing the combined pressures of tackling increased workloads, regulation and
commercial demands within ever tighter budgetary constraints. In other words, clients need more for less. Very
little has changed in the delivery of legal services beyond a modest uptake of alternative billing.
● Managed Legal Servises has primarily focus on the less complicated legal jobs, such as discovery, bread &
butter contracts, repetitive compliance audits etc. – in other words “machine room law”.
● Legal Process Outsourcing (LPO) has been a common practice for many years amongst organisations seeking
to delegate routine and volume work tasks to third-party businesses who can do it more economically.
● LPO is expected to grow 35% CAGR from 2017 to 2024.
● These services are often delivered using a combination of onsite, nearshore and offshore resources, as
appropriate to the nature of the work being supported.
● Managed legal services can’t be done without alternative legal service providers. These providers contract for
all or part of the function of an in-house legal team. Typically engaged for ongoing work within scope,
proactively managed;
● Gartner, in its most recent Market Guide for E-Discovery Solutions, stated that best-of-breed solutions still
dominate within corporate legal departments. While that may be true today, this will not continue going forward.
The value of a unified platform approach in terms of efficiency, productivity, and cost and risk reduction has
been validated time and time again in just about every other software category;
Source: ALTNordic Survey, Lawgeex.com & ThomsonReuters.
Major shift in the attitude towards ALSP’s
● Major shift towards ALSP’s: A survey by ALTNordic, which Experticon is part of,
conducted a survey among leading General Councils in Sweden, Denmark, Finland and
Norway. The result revealed a major shift in the use of ALSP’s. While only 12% used
ALSP’s in 2017, the number had increased to 34% in 2018.
● Cost pressures are rampant. Cost pressures to improve efficiency are cited by 69% of
General Counsel as a driving force in their daily roles. Businesses want to pay less for legal
services but there is no reduction in work. Only 28% of legal departments are hiring, yet
82% of departments expect their legal needs to increase in the next year.
● The need for more strategic lawyering. In the new business environment, in-house
lawyers are required to demonstrate greater strategic alignment of their business goals,
with 65% of in-house counsel now saying they take part in strategic business decisions;
● The growth of legal operations. Legal Operations, a movement to ensure that law
departments function as a business, have become entrenched, as 56% of legal
departments (in large companies) now have a dedicated legal operations function, up from
51% last year.
Use Case: Enabling legal teams to be more
strategic, flexible and technology oriented.
● The line between in-house and law
firm work is evolving. Axiom was
built to enable legal teams to be
flexible, strategic and drive business
forward.
● Axiom’s solutions combine legal
experience, technology, and data
analytics to deliver work in a way
that dramatically reduces risk, cost
and cycle-time. The firm comprises
2,000-plus lawyers, professionals,
process engineers and
technologists.
Source: Axiomlaw.com and Thomsonreuters.com
10. Legal Design & UX
Legal design is increasingly being applied to the legal industry. The whole point of
legal design is to make law more accessible, more usable and more engaging.
Design and Legaltech
● How design thinking is relevant to lawyers? Legal design thinking is a cross-discipline of Legal
Thinking, Design Thinking, Visual Thinking and User Experience (UX) Design;
● Lawyers use these disciplines to enhance the human friendliness of understanding and
applying the law, since the law is meant to create order in society and make a peaceful living
and working environment for everybody;
● Using visual tools, lawyers can get clients’ message across effectively in and out of court. This
innovative approach utilises graphics and other visual tools to support clients’ point of view or
to facilitate strategic discussion in an clear, intuitive and concise way. This saves the time it
takes wading through text, improves concentration and makes it easy to see connections or
contradictions;
Source: Legaltech.se
Source: Legaltechdesign.com
Use case: Design lab for new legal products
● Legal Design Lab is an interdisciplinary team
based at Stanford Law School & d.school,
working at the intersection of
human-centered design, technology & law to
build a new generation of legal products &
services.
● Legal Design Lab create concept designs for
new legal products & services, and build
them out with agile, design-driven teams.
These development projects are also
research-driven, to create results about what
works in legal innovation;
Source: Legalgeek.co and Juro.com
Use Case: A privacy policy that is easy to read
● Legal design is a mindset as much as
a discipline. It means starting with the
end user of legal services of all kinds
and working backwards. And it’s no
longer a nice-to-have. To take one
example, the GDPR mandates that all
privacy notices will need to be concise,
transparent and written in plain
language. Sounds more of a design
challenge than a legal challenge;
● Juro, an end-to-end contract workflow
tool which won the 2017 Legal Geek
start-up awards, is using legal design
in its product to change a mindset of
legal industry.

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Legal tech trends 2019 report

  • 1. Trends in Legal Tech 2019 Top Trends, Technologies & Examples
  • 2. Legal Tech Market & Next Steps The Growing Legal Tech Market 2-4 Funding and Investments 5-7 Acquisitions in Legal Tech 8-10 Usage of Legal Tech 11-14 Legal Department of the future 15-16 Legal risks for legal leaders 17 Legal Tech Trends 2019 Report Top 10 Legal Tech Trends in 2019: AI is maturing. We will see breakthrough products 20-24 Voice Assistants is a legal challenge and gift 25-29 Increased Automation in Legal Industry 30-24 BlockChain Interest Reaches Critical Mass in Legal 35-38 Smart Contracts Race Among Law Firms 39-43 RegTech and its Role in Legal World 44-47 Focus on Data Ethics, Governance and GDPR 48-52 E-learning and Gamification 53-56 Managed Legal Services 57-60 Legal Design & UX 61-64
  • 4. Mapping the Legal Technology Landscape There are many more than listed here, but the map gives an idea of major players in key legal tech niche industries. Source: Legalexecutiveinstitute.com
  • 5. Biggest Legaltech Funding in the Past Year - 1/2 Source: Lawgeex.com
  • 6. Biggest Legaltech Funding in the Past Year - 2/2 Source: Lawgeex.com
  • 7. Legal Technology Investment Booms ● In-house legal department spending on information technology is growing 25% faster than spending by businesses as a whole, according to a new guide to the burgeoning ‘lawtech’ market. ● The LegalTech 2018 Buyer’s Guide, published by Israel-based artificial intelligence business LawGeex, suggests that lawtech businesses are attracting record levels of investment – $49m in January 2018 alone – and are rapidly consolidating. ● The number of companies offering legal AI systems has leapt from 40 to 66 in the past year and the market in legal analytics systems, which extract knowledge from data, is expected to grow four-fold to $1.8bn by 2022. Source: Lawgazette.co.uk and Lawgeex.com
  • 8. Biggest Legal Tech Acquisitions: eDiscovery Source: Lawgeex.com
  • 9. Biggest Legal Tech Acquisitions: Contract Management, IP, Document Drafting Source: Lawgeex.com
  • 10. Biggest Legal Tech Acquisitions: Matter Mangement, E-Signature, Research, Dispute Source: Lawgeex.com
  • 11. 45% of legal teams report increased usage of legal tech products Forty-five percent of legal departments report increasing usage of legal technology, with the largest increased usage reported by small legal departments (52%) where there are fewer staff available to manage legal work, and large legal departments (63%). Source: SerengetiLaw
  • 12. 73% of Legal Teams in the Nordics have not appointed a person to be in charge of technology or automation Source: ALTNordic & Experticon
  • 13. Most Tools Used are Simple Tech - not Legal Tech Source: ALTNordic & Experticon
  • 14. 26% of legal teams in the Nordics do not have plans to digitize nor automate processes and work Source: ALTNordic & Experticon
  • 15. ● Over the past 10 years, unprecedented disruptions—including the deregulation of the practice of law and advancements in technology—have been changing the face of the legal sector. ● Law firms have already begun to feel the impact of these disruptions. And corporate legal departments are increasingly being asked to reduce costs and operate more efficiently than ever before. ● Legal is increasingly being integrated into vital business operations instead of being run as an autonomous department. ● In-house legal teams is becoming more like an internal law firm that drives economic value as an internal commercial function. Drivers of Change in the Legal Sector Source: Deloitte
  • 16. The Legal Department of the Future Source: Deloitte
  • 17. Top Risks for Legal Leaders ● Accelerating business change. Corporate processes, services and operations are fundamentally changing (fueled in part by digitalization), which creates new risks and makes existing risks harder to manage. Legal and compliance leaders must keep up with persistent change in corporate activities and business models and plan for skill shortfalls within their own teams; ● Digitalization and technology risk. Leaders must keep up with rapid advances in technology capabilities as their organizations digitize assets (i.e., turn them from analog to digital form) and digitalize the business (i.e., use digital technologies to change their business model and provide new revenue and value-producing opportunities); ● Geopolitical and regulatory volatility. Legal and compliance leaders need to provide stability amid ever-present geopolitical volatility — both within and between jurisdictions, regulatory bodies and enforcement authorities — and provide leadership as they manage sweeping new regulations such as those on data privacy; ● Transparency and public expectation. Consumers are keenly focused on issues of corporate culture and ethics amid constant headlines about corporate missteps and individual wrongdoing; Source: Gartner
  • 18. Top 10 Legal Tech Trends 2019
  • 19. Top 10 Legal Tech Trends 2019 1. AI is maturing. We will see product breakthroughs in Legal Tech 2. Voice Assistants is a legal challenge and gift 3. Increased Automation in Legal Industry 4. BlockChain Interest Reaches Critical Mass in Legal 5. Smart Contracts Race Among Law Firms 6. RegTech and its Role in Legal World 7. Focus on Data Ethics, Governance and GDPR 8. E-learning and Gamification 9. Managed Legal Services 10. Legal Design & UX
  • 20. 1. AI is maturing. We will see product breakthroughs in Legal Tech AI has the potential to transform the world. We interact with artificial intelligence on a daily basis. Now It’s time to become a game changer for legal industry.
  • 21. Almost all Large Law Firms Consider AI if Not Already in Work ● The benefits of AI are primarily faster and more accurate prediction ● Kira systems received a USD 50M series A investment in Sep. 2018. Concord received one on USD 25M in Nov. 2018. ● Today’s AI technology is best at accomplishing narrowly defined tasks and work that are time-consuming and repetitive. While machines can process, store and recall information much faster than people, human lawyers still need to apply critical thinking to that information. ● According to a survey of more than 100 law firms by real estate advisory CBRE, 48% are already using AI software in their businesses and 41% have imminent plans to do the same. ● The survey found 61% of the companies already using AI are doing so to generate and review legal documents. It also revealed 47% are using AI for due diligence purposes and 42% for research. About a third (32%) are using AI to carry out compliance and administrative legal support. Source: Computerweekly.com, Lawtechnologytoday.com, Lexology.com, Deloitte.com
  • 22. ● Analyzing thousands or millions of documents is time consuming and very expensive. The computerized use of keyword search is too imprecise a tool for extracting relevant documents from a huge pool. As the number of documents to be reviewed for a typical lawsuit increases, the legal profession needs a better way. ● Predictive discovery or predictive coding is a machine-based method that rapidly can review a large pool of documents to determine which are relevant to a lawsuit. ● Predictive coding has been mandated in certain cases following Brown v BCA Trading and others [2016] EWHC 1464 (Ch). Use Case: Predictive Coding & E-Discovery Source: FTJournal.com, Lawsociety.org.uk and recommind.com
  • 23. ● Finding relevant cases while doing legal research used to be a time-consuming process. Now, AI allows lawyers to ask questions in plain language and get instant answers after the technology reviews resources such as regulations, case law, secondary sources and more. ● AI significantly reduces the time that lawyers spend on legal research. AI solutions, such as Ross Intelligence, can find document and cases in seconds, which would take a human many hours of work. ● Legal tasks performed by new law school graduates, junior attorneys and paralegals can be automated with tools like this. Use Case: Legal Research Source: NYTimes and Rossintelligence
  • 24. Legal AI Landscape 2018 Source: Lawgeex
  • 25. 2. Voice Assistants in Legal Operations, Courts, Privacy Complications A brave new world of voice technology is a double edged sword. Your smart voice assistant can be used for many things - also against you in court.
  • 26. Voice Assistants in Legaltech ● Need to write a legal document without entering the keyboard? Just tell. Want to out how many cases your team handled last month? Just ask. ● In 2017, 30 million voice assistants were sold in the US alone. Amazon’s Alexa and Google Assistant are among the popular ones. ● ComScore predicts that 50% of generic search queries will be from voice by 2020. ● Voice assistants are helping lawyers in their everyday tasks ● There are products with specialized legal vocabulary with million legal words included. ● Voice-to-text processing is powerful, easy-to-use and well-working today. ● Legal professionals can be productive from anywhere. In the car, airport etc. ● Use voice assistance to make meeting notes quickly. ● Most legal products today are text-based. Not voice-based. ● Voice is to a large extend, a brand new channel for companies to learn about their customers through audio-recording and the use of predictive analysis Source: Law.com, Americanbar.org and lawsitesblog.com
  • 27. ● While voice technology offer great potential for improving quality of life, they also expose users to privacy risks by perpetually listening for voice data and transmitting it to third parties ● Voice technology can create profiles of your whereabouts, habits and interactions. ● For example, what if an employer is tracking employees voice mails for certain words and record these? ● Or what if your voice assistant record what is happening in your home or workplace without your knowledge? ● In October 2018, Turkish officials announced that they have an audio recording of the alleged killing of journalist Jamal Khashoggi from the Apple Watch he wore when he walked into the Saudi Consulate in Istanbul. Voice Technology & Privacy Complications Source: Law.com, Americanbar.org and lawsitesblog.com
  • 28. ● Thomson Reuters has introduced Workspace Assistant, a new way for lawyers to access and perform time management functions via Workspace using Amazon Echo or other Alexa-enabled devices; ● Workspace Assistant works only with Workspace, an enterprise-level product for large law firms that integrates information from the financial and matter management platform 3E and other Elite and third-party products; ● Workspace Assistant allows lawyers to enter and track billable hours using voice-only inputs. Functions include the input of billable hours to a specific client matter, the use of a timer to calculate and post time spent on a given client matter, and the ability to ask Alexa various questions that relate to billable hours; Use Case: Digital Billing Source: Thomsonreuters.com and lawsitesblog.com
  • 29. ● Nuance’s Dragon Legal has more than 400 million words from legal documents ● Accuracy is up to 99% on first time usage ● It allows you to automatically create legal documents by voice and without using a keyboard ● Applications providing powerful voice software include Microsoft’s Speech Recognition app, Apple’s Enhance Dictation feature and Nuance’s Dragon Legal software. ● Solutions like this can help to enhance documentation and reporting for a mobile workforce. Use Case: Legal Writing by Voice Source: Nuance.com
  • 30. 3. Increased Automation in Legal Industry Automation is getting deeper inside the legal industry, jeopardizing the work of lawyers, who can be replaced with lawyer-bots
  • 31. ● McKinsey estimates that 22% of a lawyer’s job and 35% of a law clerk’s job can be automated. ● As of 2018, there were over 1,340,000 licensed lawyers and 290,000 paralegals in the US alone. ● AI-powered document discovery tools have had the biggest impact on the field. By training on millions of existing documents, case files, and legal briefs, a machine-learning algorithm can learn to flag the appropriate sources a lawyer needs to craft a case, often more successfully than humans. ● These programs are, simply put, changing the way legal research is carried out. ● Document discovery software, or “virtual associate”, is another example of legal automation. ● Many law schools, e.g. Harvard, have created new programs to teach the next generation of lawyers programming and how to use these sophisticated tools. ● Many companies are still far behind on legal and document automation Legal Automation is Indefinite Source: Technologyreview.com and Deloitte.com
  • 32. Document Automation for In-House Teams● Speed. Creating a contract using document automation takes a few minutes. You can also create a suite of related documents at the same time, based on the same answers. It can also be used, with the right contracts, to allow the business to create a contract without needing to refer to legal; ● Risk management. Unfortunately we all regularly make mistakes. Document automation removes many of those opportunities for errors; ● Better contracts. Template agreements are generally getting longer and more unwieldy. As issues come up in negotiations, points are added to contracts, and it is rare that the template gets shortened; ● Iterative improvements. Document automation has an interesting side effect. When legal teams create or update their templates, they will often go through an epic process of drafting, feedback (aka drafts sitting on team-mates’ desks for weeks) and internal stakeholder management that, like a law of physics, seems to always take six months; Source: Radiantlaw.com
  • 33. Use Case: Document review in seconds what took lawyers 360.000 hours ● JPMorgan announced earlier this year that it is using software called Contract Intelligence, or COIN, which can in seconds perform document review tasks that took legal aides 360,000 hours; ● The software reviews documents in seconds, is less error-prone and never asks for vacation; ● Junior lawyers/paralegals used to work through these documents to find relevant information. This can be completely automated. ● The firm recently set up technology hubs for teams specialising in big data, robotics and cloud infrastructure to find new sources of revenue, while reducing expenses and risks; Source: Technologyreview.com and Independant.co.uk
  • 34. ● CaseMine leveraging AI to unearth latent linkages between case laws thereby making legal research more in-depth and comprehensive. ● A legal technology company based in India, builds on document discovery software with what it calls its “virtual associate,” CaseIQ. ● The system takes an uploaded brief and suggests changes to make it more authoritative, while providing additional documents that can strengthen a lawyer’s arguments. Use Case: Get your own ‘virtual associate’ that makes your document more authoritative and with stronger arguments Source: Casemine.com and Technologyreview.com
  • 35. Blockchain has the potential to disrupt legal services. From managing citizens to property, the applications of Blockchain are as wide as they are transformational. 4. BlockChain Passes Peak of Hype. Reaches Mass Adoption & Interest
  • 36. ● The British edition of The Economist called smart contracts “the most progressive technology implemented on the blockchain, which will gain momentum”; ● Law firms are opening themselves up to a whole range of other types of business to remain relevant in the digital age. This includes more sophisticated functions in due diligence and deal-making, as well as the potential to track down cryptocurrency in divorce settlements and provide guidance for banking on stocks running on blockchain; ● While it’s clear blockchain is a technology that will affect the legal industry, the repercussions are still unclear; Blockchain Interest and Adoption Source: Raconteur.net and PWC
  • 37. ● Maersk, IBM and 90+ partners moving their work to a blockchain in a collaboration called TradeLens ● The EcoSysteem is built on open standards and can help to reduce cost per transaction up to 40% ● Partners include port and terminal operators, container carriers, customs authorities, cargo owners, transportation and logistics companies and many more. ● Using blockchain smart contracts, TradeLens enables digital collaboration across the multiple parties involved in international trade ● The result is a much more lean and transparent global supply chain, reduced costs by having transparent risks shared and less use of middlemen, and data presented real-time to all partners Use Case: Digitizing Trade with Blockchain (Maersk <> IBM) Source: Maersk and Forbes
  • 38. ● Global Legal Hackathon 2018, which was attended by members of more than 30 countries from around the world, presented several projects that implement blockchain in the legal system ● One example is a project INCO-herent, created by a team from USA ● Their mission is to provide a clear understanding of how to choose and verify appropriate use of Incoterms when buying or selling across international borders to more accurately capture costs and risks ● INCOtelligent smart contracts help your business navigate INCOterms for international purchasing contracts. ● By using a set of guided questions, INCOtelligent smart contracts help you select the right INCOterm for your business Use Case: Buying & Selling Across Borders with verified Incoterms What are Incoterms? Incoterms (International Commercial Terms) are a series of agreed commercial terms published by the International Chamber of Commerce (ICC) They are widely used in international commercial transactions and procurement. Their use is encouraged by trade councils, courts and international lawyers.Source: Globallegalhackathon.com and Irishtechnews.ie
  • 39. Use Case: Verify Signatures on Legal Documents ● Currently, notary publics (or general notaries) are used to confirm and verify signatures on legal documents, such as deeds and contracts. Using blockchain technology, these documents can be preserved digitally as part of a digital ledger. ● Blocknotary is a company that seeks to apply blockchain technology to legal documents, and offers “timestamps and fingerprints for media files”, thereby eliminating the need for the rubber stamp of today’s notary public. What is a notary? A notary is a person licensed by the government to perform acts in legal affairs e.g. signatures on documents. Source: Blocknotary.com and Techradar.com
  • 40. 5. Smart Contracts Race Among Law Firms Largest law firms develop industry-wide standards for legal smart contracts
  • 41. ● Blockchain and smart contracts will fundamentally change our societal systems and structures. They will significantly redistribute power and wealth. That’s the decentralizing function of blockchain. ● More and more law firms are investing in technology, developers, smart contracts and unite in specific consortiums, e.g. the Accord Project and the Enterprise Ethereum Alliance. The purpose of these consortiums is to establish best practices for smart legal contracts. ● The legal industry is working on to employ and deploy smart contracts that could automate many functions Smart Contracts Are Booming Source: Hackernoon.com and Applicature.com
  • 42. Smart Contracts: Simple to Complex Source: Applicature.com
  • 43. ● The Accord Project develops technical standards such as data schemas, models, templates, a smart legal contract programming language and a contract execution engine that embody legal best practices and work towards a common, universal, implementation for smart legal contracts; ● Smart legal contracting needs a common implementation. The Accord Working Groups are comprised of 36 leading law firms that help establish best practices for an industry standard smart legal contract layer; ● The Accord Project incubates an open-source protocol, enabling applications to be built on a common software foundation for smart legal contracts; The Accord Project Use Case Source: Accordproject.org and Legalweek.com
  • 44. ● The Enterprise Ethereum Alliance is a nonprofit organization connecting Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject-matter experts. ● From global such as BBVA, Credit Suisse and JPMorgan to blockchain startups and tech vendors like Microsoft, the consortium has attracted many big names.. ● Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract functionality. ● Running on Ethereum smart contract functionality is Ether, one of the most widely known and trade cryptocurrencies. Enterprise Ethereum Alliance Use Case Source: Entethalliance.org and Legalweek.com
  • 45. 6. RegTech and its Role in Legal World RegTech, which begin to develop 11 years ago, can be a next big thing for legal industry. For law firms, RegTech provides a wealth of opportunities
  • 46. The Adoption of Regtech in Law Firms ● The regulatory environment has changed a lot since 2007 when the US was hit by the financial crisis. Many people blamed the problems of regulators, which poorly controlled the banks. ● According to IBM estimates, regulators are now producing at least 20,000 new requirements per year, and a full set of rules and regulations will exceed 300 million pages by 2020. ● Companies are turning to technology to meet the growing regulatory demands ● According to Reuters, the market for RegTech will be $120 billion by 2020. ● In the long-term perspective, RegTech adoption helps protect an organization’s financial health and allows it to maintain market agility and integrity. ● Regulatory technology, or RegTech, offers e.g. banks automated solutions that can speed up the cumbersome process of vetting clients and transactions, which is necessary to prevent money laundering and other financial crimes. ● Utilization and knowledge of RegTech solutions can also help a firm position itself as an authority in the field, boosting its reputation. ● Additionally, the adoption of RegTech for its own compliance and business operations could give a firm the ability to increase both its efficiency and scalability; ● Firms who can show they are innovating to provide cost and quality benefits to their clients will stand out among its competitors. The flipside of these opportunities is the risk of losing out to firms and vendors that are taking full advantages of these technologies in their operations; Source: Biglawbusiness.com and Encompasscorporation.com
  • 47. ● Cryptocurrencies have become part of the modern criminal’s toolkit. They are being used to fund a growing array of criminal activities. ● Going beyond their role in enabling trade on dark web marketplaces, cryptocurrencies are used in extortion, ransomware cases, money laundering and fraud. ● Elliptic describes itself as the global standard for blockchain intelligence, and has provided RegTech services for the financial sector since 2013. ● The startup identifies criminal activity related to cryptocurrencies, e.g. by examining blockchain transactions as well as providing proof of identity for users of cryptocurrencies. ● Their clients include financial organisations, but also law enforcement agencies who use Elliptic’s data to investigate suspicious activity. Use Case: Identifying cryptocurrency-enabled criminal activity. Source: Disruptionhub.com and Elliptic.co
  • 48. ● Apiax is a Swiss RegTech startup, transforming complex financial regulations into digital compliance rules, which are constantly up-to-date and verified. ● The rules are consumable via an app or can be integrated directly into processes through an API. ● Using this type of technology can help legal and compliance teams provide full visibility and control over their digital rule sets and empowers client advisors to serve their clients more efficiently and in a compliant manner. Use Case: From complex financial regulation to digital compliance rules ready to be implemented. Source: Crunchbase and Apiax
  • 49. 7. Focus on Data Ethics, Governance & GDPR In an increased privacy aware society, GDPR is forcing companies to become more ethical in how they handle data.
  • 50. About GDPR The General Data Protection Regulation (GDPR) is a regulation by which the European Parliament, the Council of the European Union and the European Commission intend to strengthen and unify data protection for all individuals within the European Union. The regulation became enforceable throughout EU from May 25 2018. GDPR and Data Ethics ● Big data has spurged almost monolithic tendencies among tech-giants, such as Google, Facebook and Amazon. ● Monetizing data has become key driver for startups and investors worldwide - often sidestepping vital privacy rights. ● GDPR has puts focus on data ethics and governance. ● IT forces all businesses to follow a stricter code of ethics to collect, manage and store personal data. ● While the GDPR requirements are detailed and tough to implement, the foundation is good data ethics and management. ● GDPR is not about checking of boxes, but a laung/haul cultural change to data. Privacy by Default and Privacy by Design forces companies and people to change their ethics towards data ● ePrivacy will most likely come in 2019 (and be part of GDPR). Source: Infolawgroup.com and Pwc.co.uk
  • 51. Compliance & ethical behavior a bigger driver for change than technology ● Lapses like Caterpillar’s alleged $2 billion tax fraud exposed by a whistleblower in 2013. Or Volkswagen’s diesel emissions tests for 11 million cars (its settlement tab is $14.7 billion and growing). And Wells Fargo’s ploy to open as many as 3.5 million potentially fake bank and credit card accounts in customers’ names since 2002, incurring a $142 million national class action settlement. ● Machine learning algorithms are turned loose to look for suspicious patterns of behavior. ● Companies are forced to clean up their act, or double-down on any malfeasance that’s revealed. ● AI presents a range of ethical, legal, and regulatory issues. Real-world biases risk being embedded into training data. Since the real world is racist, sexist, and biased in many other ways, real-world data that feeds algorithms will also have these features—and when AI algorithms learn from biased training data, they internalize the biases, exacerbating those problems; Source: qz.com
  • 52. ● Convercent is an ethics and compliance software provider that helps companies instill ethics at the core of their organizations; ● The products they provide weaves ethics and values into everyday operations. ● Its Ethics Cloud Platform is comprised of a suite of applications covering board reporting, whisteblower channels, case management, policy management, online training, conflict of interest and more. Use Case: Proactive Ethics & Compliance Mgmt. Source: Convercent.com and Crunchbase.com
  • 53. ● Secure Privacy is an online compliance company, which help companies setup privacy banners, install online privacy policies and communicate online data practices to website visitors ● The solution include a powerful scanning feature, which scan all cookies and tracking technologies on a website. ● Using the scanning technology, companies can see what plugins they use by which category and get an assessment whether their website is GDPR and ePrivacy compliant. Use Case: Online GDPR & Compliance Scanners Source: Secureprivacy.ai
  • 54. E-learning and gamification looks highly promising for the legal industry as we’ve seen a wave of fun and playful solutions come to market. 8. E-learning and Gamification
  • 55. E-learning and Gamification in Legal Industry ● Gamification means to add game-design elements, e.g. point scoring, competition with others, rules of play in a non-game solution. ● The purpose of adding gamification can be to improve user engagement, increase organizational productivity, ensure more people take learning course etc.. ● E-learning based training doesn’t have the time and location requirements that classroom based training has. Studying can happen at home, during office downtime, etc. at the employees’ own pace. ● Since training happens on-demand and can be served through web interfaces, it can be used on any kind of device: desktop, laptop, tablet or even a smartphone. A lawyer can study while at court waiting for the judge to arrive or the jury to come back with their decision, or even while commuting or waiting at the airport to catch a flight. ● It’s great for continuing legal education (CLE). ● Why not transform then monotonous tasks and administrative actions to challenging games, making it enjoyable? That is exactly the premise behind gamification. Source: Efrontlearning.com and Advocatus.dlapiper.hu
  • 56. ● Learningbank has a digital GDPR solution that enables you to document training concerning GDPR and incorporate the training in future onboarding processes. ● The learning game combines gaming mechanics, involving storytelling and result-oriented learning content. ● GDPR Awareness consists of 25 minutes of bite-sized learning, ensuring that employees get well equipped for abiding by the personal data regulation. ● The product focus on involvement rather than just informing. ● It also sharpens the ability to reflect on “common sense” rather than paragraphs. Use case: Learn compliance & GDPR with a game Source: Learningbank.dk
  • 57. ● Praktio provides practical online interactive contract training. It allows legal departments and law firms to learn how to draft, analyze and negotiate contracts. ● It is a safer and cost-efficient way to learn the basic structure and pitfalls in contract drafting and reviewing. Use Case: Learn to draft and review contracts with gamification Source: Praktio.com
  • 58. Legal teams are under pressure. They are on side facing an increased regulatory pressure, while being forced to meet those challenges with fewer resources. Managed legal services (MLS) is a rising trend, which aim to streamline legal operations and reduce IT spend, while companies get access to new technology. 9. Managed Legal Services
  • 59. Source: Experticon.com survey, 4cassociates.com and Inhouselawyer.co.uk Managed Legal Services for In-House Teams ● Conventional service delivery methods are simply no longer sustainable in many cases. ● All major companies are facing the combined pressures of tackling increased workloads, regulation and commercial demands within ever tighter budgetary constraints. In other words, clients need more for less. Very little has changed in the delivery of legal services beyond a modest uptake of alternative billing. ● Managed Legal Servises has primarily focus on the less complicated legal jobs, such as discovery, bread & butter contracts, repetitive compliance audits etc. – in other words “machine room law”. ● Legal Process Outsourcing (LPO) has been a common practice for many years amongst organisations seeking to delegate routine and volume work tasks to third-party businesses who can do it more economically. ● LPO is expected to grow 35% CAGR from 2017 to 2024. ● These services are often delivered using a combination of onsite, nearshore and offshore resources, as appropriate to the nature of the work being supported. ● Managed legal services can’t be done without alternative legal service providers. These providers contract for all or part of the function of an in-house legal team. Typically engaged for ongoing work within scope, proactively managed; ● Gartner, in its most recent Market Guide for E-Discovery Solutions, stated that best-of-breed solutions still dominate within corporate legal departments. While that may be true today, this will not continue going forward. The value of a unified platform approach in terms of efficiency, productivity, and cost and risk reduction has been validated time and time again in just about every other software category;
  • 60. Source: ALTNordic Survey, Lawgeex.com & ThomsonReuters. Major shift in the attitude towards ALSP’s ● Major shift towards ALSP’s: A survey by ALTNordic, which Experticon is part of, conducted a survey among leading General Councils in Sweden, Denmark, Finland and Norway. The result revealed a major shift in the use of ALSP’s. While only 12% used ALSP’s in 2017, the number had increased to 34% in 2018. ● Cost pressures are rampant. Cost pressures to improve efficiency are cited by 69% of General Counsel as a driving force in their daily roles. Businesses want to pay less for legal services but there is no reduction in work. Only 28% of legal departments are hiring, yet 82% of departments expect their legal needs to increase in the next year. ● The need for more strategic lawyering. In the new business environment, in-house lawyers are required to demonstrate greater strategic alignment of their business goals, with 65% of in-house counsel now saying they take part in strategic business decisions; ● The growth of legal operations. Legal Operations, a movement to ensure that law departments function as a business, have become entrenched, as 56% of legal departments (in large companies) now have a dedicated legal operations function, up from 51% last year.
  • 61. Use Case: Enabling legal teams to be more strategic, flexible and technology oriented. ● The line between in-house and law firm work is evolving. Axiom was built to enable legal teams to be flexible, strategic and drive business forward. ● Axiom’s solutions combine legal experience, technology, and data analytics to deliver work in a way that dramatically reduces risk, cost and cycle-time. The firm comprises 2,000-plus lawyers, professionals, process engineers and technologists. Source: Axiomlaw.com and Thomsonreuters.com
  • 62. 10. Legal Design & UX Legal design is increasingly being applied to the legal industry. The whole point of legal design is to make law more accessible, more usable and more engaging.
  • 63. Design and Legaltech ● How design thinking is relevant to lawyers? Legal design thinking is a cross-discipline of Legal Thinking, Design Thinking, Visual Thinking and User Experience (UX) Design; ● Lawyers use these disciplines to enhance the human friendliness of understanding and applying the law, since the law is meant to create order in society and make a peaceful living and working environment for everybody; ● Using visual tools, lawyers can get clients’ message across effectively in and out of court. This innovative approach utilises graphics and other visual tools to support clients’ point of view or to facilitate strategic discussion in an clear, intuitive and concise way. This saves the time it takes wading through text, improves concentration and makes it easy to see connections or contradictions; Source: Legaltech.se
  • 64. Source: Legaltechdesign.com Use case: Design lab for new legal products ● Legal Design Lab is an interdisciplinary team based at Stanford Law School & d.school, working at the intersection of human-centered design, technology & law to build a new generation of legal products & services. ● Legal Design Lab create concept designs for new legal products & services, and build them out with agile, design-driven teams. These development projects are also research-driven, to create results about what works in legal innovation;
  • 65. Source: Legalgeek.co and Juro.com Use Case: A privacy policy that is easy to read ● Legal design is a mindset as much as a discipline. It means starting with the end user of legal services of all kinds and working backwards. And it’s no longer a nice-to-have. To take one example, the GDPR mandates that all privacy notices will need to be concise, transparent and written in plain language. Sounds more of a design challenge than a legal challenge; ● Juro, an end-to-end contract workflow tool which won the 2017 Legal Geek start-up awards, is using legal design in its product to change a mindset of legal industry.