Last week, our team attended ILTACON 2023, an event that has always been focused on understanding the trajectory of technology in the legal world. This year was no exception, and the insights we gained are both illuminating and invaluable. Here’s a recap of some of the most notable trends we observed.
1. Generative AI: The New Frontier in Legal Tech
Generative AI is making waves, and its impact in the legal sector is palpable. With its potential to create content, predict outcomes, and simulate scenarios, the applications are boundless. But it’s not just the tech departments that are buzzing about it. Attorneys themselves are approaching IT teams, eager to understand how AI is being utilized and how they can harness its capabilities further. However, a pertinent piece of advice we heard was this: before diving headlong into AI, it’s crucial to pinpoint the problem you’re attempting to solve rather than just having an appetite to adopt the latest technologies. By identifying clear objectives, you can select the right technological tools tailored to address those challenges.
2. The Rise of Short Messaging
The way we communicate is evolving rapidly. Short messaging, be it through apps or platforms, is swiftly becoming the preferred mode of communication, threatening to eclipse traditional email. Not only is this shift significant in terms of communication trends, but it also has substantial implications for legal evidence collection. If legal teams aren’t archiving these formats, they risk missing out on vital pieces of evidence. The prediction from the experts? In just 3-5 years, short messaging will surpass email as the dominant form of communication.
3. The Lubrizol vs. IBM Ruling
A significant portion of discussions at ILTACON centered around the recent Lubrizol vs. IBM ruling. This case underscores the complex interplay between technology, contracts, and legal stipulations. While the specifics are intricate, the case has set some essential precedents and offered critical lessons for tech contracts and their enforcement. It served as a reminder of the ever-evolving nature of the legal-technology nexus and the importance of staying abreast of landmark rulings.
4. The Need for Flexible and Adaptable Partners
The post-Covid world has reshaped the way businesses operate and communicate. Hybrid methods of communication, which blend traditional face-to-face interactions with virtual meetings, are becoming the norm. At ILTACON, the emphasis was on the importance of having flexible and adaptable partners who can navigate these changes effectively. Standardized processes, while essential, need to be balanced with adaptability to cater to this new normal.
To discuss ways to get ahead of trends, contact one of our experts here.