“Technology will thus help us expand globally, both in terms of talent and clients,” predicted Komal. “Our uptake of technology has encouraged greater cross border collaboration.”
“In addition, delays incumbent to the long-drawn cycle of receiving justice are likely to shorten.”
For organisations that fail to innovate, Komal’s forecast was bleak.
“If the legal profession does not innovate, there is cause to worry,” said Komal. “In India, the adoption of tech is slower in the legal profession than other nations. We’ve seen an improvement in the last two years but not enough. Domestic talent needs to be encouraged to develop tech that is relevant to Indian lawyers and the lawyers themselves need to understand that technology is an enabler and not a threat.”
The lockdown necessitated by COVID-19 has encouraged some openness to change as lawyers embraced virtual meetings and virtual court hearings. There is a surge in contract management software and electronic signatures as well.
“Clients are requesting virtual meetings and interns are looking forward to a virtual internship program. For India, one big disruption will come with the complete digitization of courts and an increased selling of legal products, which will involve a combination of tech and legal services.
“Clients are becoming more sophisticated and demanding, which will encourage innovative ways of creating value-based legal products,” said Komal.
“If you are doing all the right things - making advance preparations, being proactive in providing solutions to your clients, and empowering your talent with all the tools they need to perform their roles well, you are sure to grow and succeed.”
Innovation is likely to create new career paths.
“Alongside an increased acceptance of specialised talent - including data scientists, engineers, and pricing experts - new career opportunities will arise for lawyers in legaltech, data analytics, design thinking, innovation, and transformation,” predicted Komal. “This will lead to an increase in legaltech developers as consumption of legaltech services rise.”
“New lawyers are very smart and aware of the transformation in the legal profession,” said Komal. “My advice for them is to be independent from day one – they must not get carried away by the traditional ways of practicing law and should have an element of legaltech, design thinking, process mapping, creative pricing, teamwork, and collaboration in their approach.”
“The CLI is a great platform that brings like-minded professionals together, across the globe,” said Komal. “I think CLI plays a significant role in cross border collaboration and knowledge sharing. This is very important because we all need to learn from each other and share best practices.”
P.S. If you would like to see some of the amazing legaltech being developed in India through the CAM Incubator – Prarambh, please join CLI’s Legal Techy Tuesday virtual legaltech demo series - Showcase on India with Leegality on 1 September (register here) and LegalMind on 15 September (register here).