The Corporate Legal Operations Consortium (CLOC), has found in a survey of 213 corporates around the world that 12% are currently “using AI within their tools and processes”. The inhouse lawyer and legal operations organisation also found that 45% are “exploring” AI tools to reduce workloads, to gain better insight into legal data and to improve performance and efficiency. Corporate legal departments experienced growth in demand for legal services with many growing their legal operations teams and continuing to invest in technology. Of the companies that participated, 40% reported an increase in full time attorney headcount in 2018 and 37% reported an increase in dedicated legal operations FTEs. Legal operations functions continue to have a strong focus on technology to improve transparency and data analytics, efficiency, quality and consistency of work, and speed of execution – 72% of respondents reported having a technology roadmap, with these companies spending 3 times more on technology than those that don’t.
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Providing insight into technology and innovation in the legal, accountancy property and consultancy sectors. Alternative Insights brings together news, commentary and thought leadership about digital transformation across the entire professional services industry. We collate industry stories on innovation, technology and transformation in the legal, accountancy, management and property consultancy sectors, giving you access to the latest thinking about tech and innovation in the professions.
September 27, 2019
January 7, 2020