Technology as a positive threat

Aileen Schultz has a unique view of the tremors shaking up the legal profession worldwide. As a Fast Case 50 Global Innovator, Founder and President of the World Legal Summit, Co-Founder of the Global Legal Hackathon , and having lead growth strategies for multiple legaltech ventures, Aileen intimately understands how technology is changing the daily practice of law.

Towards a truly innovative mindset

“Having worked in legal innovation for several years, I have had a great opportunity to witness the acceleration of not only the spirit of innovation, but the actual transformation that is occurring in the legal industries world wide,” said Aileen. “Globally, it seems there is a strong appetite for real progression. This starts with having a truly innovative mindset. This momentum has increased my motivation for launching projects like the World Legal Summit.”

Aileen acknowledges that technology poses a threat to the current state and structures of the legal profession.

“I believe technology is a positive threat,” argued Aileen. “If we choose to define the ‘legal industry’ as the provision of legal services, period, then the negative threat that transformation poses, is flipped on its head and becomes only a directly positive thing; as it is the legal industry becoming overall better at what it is intended to be, a true evolution.” 

Emerging global systems to support tech transition

Her big prediction for the future of legaltech? The emergence of global systems.

“Truly global systems will emerge not only in the practice of law, but also within the development of legislative frameworks,” said Aileen. “With the influx of the Big Four and other massive transformations, it's clear that the practice of law is not going to be as jurisdictionally confined as it traditionally has been. Furthermore, I believe we will increasingly see the materialization of cross jurisdictional regulatory systems dealing with emerging technologies. For example, a universally adopted definition of digital identity, or an increasingly universal application of human rights across the internet.” 

To support the lawyers most affected by these upheavals, Aileen urged the legal profession to seize the opportunities which naturally arise from disruption.

“We should support lawyers with open arms and encouragement! It's clear the industry is transforming. While this does mean some displacement of jobs, there are also massive opportunities for legal professionals to expand their careers.”

“For example,” she continued, “many emerging technologies are being developed outside of the law, meaning there are few or no current legal systems equipped to deal with them. As a result, we have a great need worldwide for better legal infrastructure to regulate and manage these technologies. This is a truly incredible demand that I believe to be almost exclusively made for professionals of the legal industries.” 

Get legaltech experience early

Interested in taking advantage of the opportunities offered by digital disruption? Get amongst the action, advised Aileen.

“Get in the weeds with the disruptors, learn their language, their needs, and what the future they are building looks like,” said Aileen. “Law students armed with an understanding of the law and this raw experience are, I believe, going to be in increasingly vast demand.” 

The Centre for Legal Innovation is playing a central and necessary role, helping lawyers navigate changes wrought by technological disruption. Here’s Aileen’s perspective:

“The Centre for Legal Innovation (CLI), and other forward-thinking organizations, think tanks, accelerators, incubators, meetup groups and clubs, are absolutely needed to support industry transformation,” said Aileen. “These organizations provide what I like to call a ‘safe space’ for pushing the dial on truly transformative thinking and action. They provide an opportunity to step outside of the day to day practice, and into a positively future-oriented mind set.” 

The Centre for Legal innovation (CLI) is partnering with the University of Queensland T.C. Beirne School of Law  to offer a one day summit in Brisbane as part of the World Legal Summit  (WLS) on 1 August 2019. For further information, please contact Terri Mottershead, Executive Director of CLI and WLS Ambassador, Oceania: CLI@collaw.edu.au.