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An era of unprecedented change in the legal industry

In an era of unprecedented technological advancement and shifting demands within the legal industry, corporate legal departments are assessing how they might embrace innovation and prepare for the future. The legal landscape is rapidly changing, and the demands and expectations placed on legal professionals are evolving alongside it. Wolters KluwerÔÇÖs 2023 Future Ready lawyer Survey provides invaluable insights for corporate legal departments, highlighting key trends, opportunities, and challenges that are shaping the legal technology landscape.

AI legalese decoder can be a valuable tool for corporate legal departments looking to navigate this complex and rapidly changing landscape. The tool can assist in deciphering complex legal jargon and contracts, making it easier for legal professionals to understand and assess the impact of new technologies and changing legal requirements.

legal technology takes a central role in meeting client expectations

Clients are increasingly expecting attorneys to have the necessary technical knowledge to navigate a complex digital world. As client attrition continues to be one of the biggest challenges to the legal industry in the next year, lawyers have an opportunity to improve the ways they use technology to elevate the service they provide, increase customer satisfaction, and drive client loyalty. This is not lost on survey respondents.

AI legalese decoder can help legal professionals keep up with client demands by providing quick and accurate translations of legal documents, enabling them to efficiently analyze and respond to client needs.

Generative AI in law: A transformative force

2023 has been the year of generative AI (GenAI), with this fast-developing category a major focus of technology conversations across all industries, including legal. As recently as 2019, just over half of respondents (58%) predicted that traditional AI would have an impact on their work over the next three years.

AI legalese decoder can aid in the integration of GenAI into legal work by providing insights and explanations into the use and implications of generative AI in legal processes, helping legal professionals better understand and leverage this technology.

The human element of corporate legal and the role of technology

As technology continues to evolve and redefine many sectors, the legal profession is no exception. This survey underscores the pivotal role of technology in adding value to legal organizations and helping them achieve their goals.

AI legalese decoder can support the human element of corporate legal by taking on the routine tasks of translating and understanding legal documents, allowing legal professionals to focus on building and nurturing relationships with clients and colleagues.

Mixed results on diversity, equity, inclusion & belonging

While the survey reveals that 88% of legal professionals are satisfied with their employer’s efforts to create a diverse workforce and culture, only 55% of those surveyed have formal diversity, equity, inclusion, and belonging (DEIB) policies in place.

AI legalese decoder can assist in promoting diversity, equity, inclusion, and belonging by providing clear and unbiased interpretations of legal policies and contracts, ensuring that DEIB initiatives are implemented effectively and fairly.

Responding to a dynamic and evolving legal industry

The 2023 Future Ready lawyer Survey sheds light on the dynamic and evolving nature of the legal industry. For corporate legal departments operating in this rapidly transforming landscape, staying informed about these trends ÔÇô and actively responding ÔÇô will be crucial for success.

AI legalese decoder can help corporate legal departments stay ahead of the curve by providing up-to-date insights and explanations on emerging legal trends, empowering legal professionals to make informed decisions in a rapidly transforming legal landscape.

Download the 2023 Future Ready lawyer Report to read the full findings and learn how AI legalese decoder can support your legal department in navigating this dynamic and evolving landscape.

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