New survey report from Wolters Kluwer Legal & Regulatory examines trends, technology and change in legal profession in Europe and U.S.
Faced with increasing information complexity, changing client demands and shifting market forces, legal professionals are turning to technology to help them achieve better outcomes. However, not all lawyers are doing so at the same pace, and those already leveraging technology have an early adopter advantage, including higher profitability and readiness to take on change, according to findings from the 2019 Future Ready Lawyer Survey from Wolters Kluwer Legal & Regulatory.
“After years of debate about the transformation of the legal sector – if, when and how it would happen – there’s no question that the global future of law is rapidly underway, and that technology is a key force for change,” said Stacey Caywood, CEO, Wolters Kluwer Legal & Regulatory. “Legal professionals are increasingly turning to accessible and impactful technologies that help them achieve better outcomes and offer higher value through data-driven analytics and insights, and higher efficiency and productivity.”
The Survey focused on three core areas and asked lawyers to assess their current state and future priorities and preparedness to identify what it will take to be future ready in the areas of: Tools & Technology; Client Needs & Expectations; and Organization & Talent.
Across these categories, the independently conducted survey of 700 lawyers from Europe and the U.S. found significant differences between those organizations already optimizing technology, with plans to invest in new technologies (Technology Leaders), and those with limited use today with plans to leverage technology to a greater extent ahead (Transitioning organizations).