Updated: Mar 30
The Pressing Need for Transformation
On top of a global pandemic, there is disruption from artificial intelligence, blockchain, multi-disciplinary professional services networks and NewLaw entrants to the legal industry. These trigger changing customer behaviour, rising cost pressures and new demands of value, speed and flexibility from the industry. Against this backdrop, many firms have long recognised the need for action.
Supporting the Legal Industry Transformation is no longer radical, but essential. However, the transformation journey is not easy. There are challenges in adopting technology, such as the lack of resources to identify and implement suitable LegalTech solutions.
This Legal Industry Technology & Innovation Roadmap (TIR) is here to help. It presents workshopped initiatives and recommendations, to support legal teams, both in-house and in private practice, in their transformation journeys. More importantly, to help those who are willing to keep an open mind and explore their options to spot and seize opportunities through transformation, to thrive in this new environment. How the Roadmap Was Developed The Technology & Innovation Roadmap (TIR) is a sector-wide plan by the Ministry of Law (MinLaw) to promote innovation, technology adoption and development in Singapore’s legal industry up to 2030. It identifies technologies that will impact and change legal services, and explores ways to support development and adoption of such technologies.
The roadmap is the result of a series of four inter-connected workshops conducted between April to October 2019, facilitated by the Agency for Science, Technology and Research (A*STAR), and brought together participants from across the legal industry and adjacent industries and disciplines to answer four key questions.
Thanks to James Lau for sharing this information