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Constantly Changing Reality Global Trends, Emerging Technologies and the Future of Corporate Legal IT. Legal Tech New York 2014. February 4 th 2014 Rohit Talwar - CEO Fast Future Research www.fastfuture.com [email protected] Twitter @fastfuture .

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Constantly Changing Reality Global Trends, Emerging Technologies and the Future of Corporate Legal IT

Legal Tech New York 2014

February 4th 2014

Rohit Talwar - CEO

Fast Future Research

www.fastfuture.com

[email protected]

Twitter @fastfuture


Objectives of ilta legal technology future horizons project
Objectives of ILTA Legal Technology Future Horizons Project

  • Identify key business, legal and IT trends and developments

  • Build timeline of emerging technologies and IT developments with high potential legal impact

  • Explore IT’s transformative role in future legal business models and service differentiation

  • Highlight strategic imperatives for effective use and management of legal IT

  • Conducted January – December 2013

  • Publication – March 2014

  • 6 Sponsors

  • Combined desk research, interviews with managing partners, CIO’s, vendors, futurists and technologists, global surveys on the business applications of IT (499 responses) and emerging technologies (223 responses)

  • Key findings are presented on the following pages including the highest ranked responses in the surveys


Future proofed organisations work on 3 horizons in parallel
‘Future Proofed’ Organisations Work on 3 Horizons in Parallel

1-12 Months

Operational Excellence

1-3 Years

Drive for Innovation Efficiency, Growth

4-10+ Years

Creating the Future





Socio demographic forces are reshaping society
Socio-Demographic Forces are Reshaping Society Emerging Markets

Free education is a game changer



Financial innovation is the new normal e g assets usership vs ownership
Financial Innovation is the New Normal Makinge.g. Assets: ‘Usership’ vs. Ownership


Rapid execution e g superfast construction ark hotel dongting lake china
Rapid Execution e.g. Superfast Construction MakingArk Hotel - Dongting Lake - China


Magic and science are blurring
‘Magic’ and Science are Blurring Making

Mapping and Uploading the Human Brain

Cognitive, Genetic, Physical and Electronic Enhancement of the Human Body

The biological era is emerging







And totally connected via the internet of everything
…and totally Connected via Making‘The Internet of Everything’

“What happens when the smartest thing in the room is the room itself?”

Madeleine Albright


Artificial intelligence is going mainstream
Artificial Intelligence is Going Mainstream Making

88%

AI advisers / helper apps will structure legal documents and check content generated by lawyers

Speech / gesture / image recognition, integrated analytics, knowledge management, image / video / voice mining, client self-service, intelligent documents, expertise systems, collaboration, secure email, virtual assistants, intelligent agents and collective intelligence






Turning insight into opportunity
Turning Insight into Opportunity Making

Models

Markets

Mastery

Muscle

Magic

Management

Mindset

Message

Message


Markets do we understand how the business is changing
Markets – Do we Understand MakingHow the Business is Changing?

Leverage Existing Strengths / Relationships

Develop New Capabilities

Emerging Market Activity / Needs

Needs of Fast Growth Activities

New Science and Technology


Mastery – Where do we Need to Excel? MakingE.g. Collaboration, Service, Managing Change, Operational Processes, Technology Planning, Foresight and Insight

Baker Donelson - Client Access to Workflow


Bradford barthel ai case analysis

Muscle – What New Survival and Growth Capabilities do we Need?

Bradford Barthel – AI Case Analysis



Bryan cave innovation department

Message – How do we Align our Actions with our ‘Brand Story’?

Bryan Cave - Innovation Department



Mindset uncertainty tolerant experimental curious sticky and magnetic
Mindset – Uncertainty Tolerant, Experimental, Curious, Sticky and Magnetic

Allen & Overy – Technology Fair


Management what critical actions can we take to drive the future
Management – What Critical Actions can we Take to Drive the Future?

Reynolds Porter Chamberlain - Edge


Which are we pursuing
Which are we Pursuing? the Future?

Models

Markets

Mastery

Muscle

Magic

Management

Mindset

Message

Message


Strategic Imperatives - the Future?

Embedding IT in the DNA




Globalized delivery model
Globalized Delivery Model the Future?

81%

Mobility

63%

Increasing

Globalization




Conclusions 21 st century survival skills
Conclusions – Capabilities21st Century Survival Skills

  • Foresight / Curiosity

  • Sense making

  • Accelerated learning

  • Uncertainty tolerant

  • Scenario thinking

  • Embrace complexity

  • Networking

  • IT Innovation


Useful reference sources
Useful Reference Sources Capabilities

  • Genetic profiling - https://www.23andme.com/

  • X Prize - Breakthrough innovation projects - http://www.xprize.org/

  • Google brain uploading - http://digitaljournal.com/article/352787

  • Brain mapping projects - http://www.technologyreview.com/news/513011/why-obamas-brain-mapping-project-matters/

  • Global Future 2045 (immortality) http://2045.com/

  • Human enhancement - http://en.wikipedia.org/wiki/Human_enhancement

  • Wearable technology – Google Project Glass - http://www.google.com/glass/start/

  • Emotiv Epoc Brain-Computer Interface - http://www.emotiv.com/

  • AI Essay Grading Software - http://www.nytimes.com/2013/04/05/science/new-test-for-computers-grading-essays-at-college-level.html?pagewanted=all&_r=0

  • Crypto currencies –

    • http://www.abc.net.au/technology/articles/2013/09/25/3855973.htm

    • http://en.wikipedia.org/wiki/Cryptocurrency

    • http://en.wikipedia.org/wiki/List_of_cryptocurrencies

  • Autonomous cars -

    • http://www.engineering.com/DesignerEdge/DesignerEdgeArticles/ArticleID/6357/Tesla-Working-on-Autonomous-Car.aspx

    • http://www.popsci.com/cars/article/2013-09/google-self-driving-car


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