According to a recent McKinsey Global Survey, COVID-19 has been one of the key drivers in accelerating the adoption of technology and digital transformation across industries, including the legal sector. The increase in productivity and standardization across organization with reduced risks and costs make it imperative for these to become an integral part of the legal function going forward.
According to Gartner, in-house legal departments will increase their technology investments three-fold by 2025. However, technology solutions will have to mindful of human behavior and port existing workflows into these solutions to provide a rich user experience.
Law firms, who presently have a different business model, will be coerced into adopting these technology solutions to continue and expand relationships with their clients.