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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

Free education is a game changer

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

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 ‘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

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

Models

Markets

Mastery

Muscle

Magic

Management

Mindset

Message

Message

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

Leverage Existing Strengths / Relationships

Develop New Capabilities

Emerging Market Activity / Needs

Needs of Fast Growth Activities

New Science and Technology

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

Baker Donelson - Client Access to Workflow

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?

Models

Markets

Mastery

Muscle

Magic

Management

Mindset

Message

Message

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Strategic Imperatives -

Embedding IT in the DNA

globalized delivery model
Globalized Delivery Model

81%

Mobility

63%

Increasing

Globalization

conclusions 21 st century survival skills
Conclusions – 21st Century Survival Skills
  • Foresight / Curiosity
  • Sense making
  • Accelerated learning
  • Uncertainty tolerant
  • Scenario thinking
  • Embrace complexity
  • Networking
  • IT Innovation
useful reference sources
Useful Reference Sources
  • 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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