The view that no one can escape the use of technology is becoming increasingly evident. Whoever and whatever your job is can not avoid technology, including for internal legal matters in companies.
Currently, the company is working to strengthen the use of technology that makes it possible to handle internal legal work. Efforts to use greater technology are driven by efficiency and effectiveness.
“The law department will increase spending on technology to reduce reliance on outside advisors, tackle COVID-19, and meet a long overdue need to modernize, digitize and automate legal work,” said Zack Hutto, director, advisory in the Gartner Legal and Compliance practice.
The trend is believed to be even more massive. The overall budget related to the transformation is predicted to increase significantly. Based on Gartner’s research released on Wednesday (10/2), the technology budget for internal corporate legal affairs is likely to triple by 2025.
The increase in the very high legal budget was also influenced by the increasing workload of the legal department. However, at the same time it is difficult for them to increase the number of employees for reasons of increased spending.
Corporate law departments need to make more use of technology to support workflows and meet productivity demands. Therefore, developing a comprehensive multi-year technology strategy that can adapt to changing corporate environments and technological advances is essential.
“Many legal departments don’t have room to increase the number of employees or engage outside legal advisors at this time. So, they tend to use technology to maximize the productivity of their personnel,” said Hutto.
After all, this is proof that the work of legal experts is disrupted by the presence of increasingly sophisticated technology. Moreover, the application of big data and artificial intelligence will be very helpful in dealing with the company’s internal law in the future.