ChatGPT and the ‘Great Resignation Boomerang’ – NetDocuments releases its annual trends report for the legal sector
NetDocuments, the #1 trusted cloud platform where legal professionals do their best work, today published 23 Legal Technology Insights for 2023 (“Report”), its annual trends report and commentary on legal tech, which — in collaboration with leaders from law firms, corporate legal departments, legal technology companies, and internal subject matter experts — identifies 23 trends and developments impacting the legal industry this year and beyond.
The Report includes 58 pages of insights, commentary, and practical tips thoughtfully assembled to help legal professionals as part of their own leadership, management, and technology journeys.
“We are continuously exchanging ideas with customers, technology partners, and other legal industry leaders to share insights and information that will benefit them, their firm, legal department, company or government agency,” shared Josh Baxter, NetDocuments CEO. “Last year, we memorialized this unique intelligence with our inaugural trends report. The 23 Insights in 2023 take this to a whole new level with purposeful and actionable advice, sourced from some of the leading technology minds in our industry, readily available to everyone who accesses it.”
The Report is comprised of dozens of influential voices in legal tech and legal ops, including insights from Mike Haven, Head of Legal Operations at Intel, and President of CLOC; Mike Ferrara, Senior Manager at Deloitte Legal Business Services; Mike Lucas, Chief Information Officer at Wilson Sonsini; David Wang, Chief Innovation Officer at Wilson Sonsini; Ken Orgeron, Chief Information Officer at Snell & Wilmer; Stephanie Corey, Founder and CEO at UpLevel Ops; Marty Metz, Chief Innovation Officer at eSentio; Paul Sperry, CEO at IT consultancy IVIONICS; and Maurice Tunney, Director of Technology and Innovation at Keystone Law.
Insights span several legal market trends and innovations, including how automation can help legal teams scale up, enhance client service delivery, and reduce tedious tasks for associates and lawyers.
While the industry’s abuzz with how OpenAI and ChatGPT have taken the world by storm, there’s a case to be made that this is only the beginning for ‘practical’ AI in Legal, especially as Microsoft dramatically ups its OpenAI investment and introduces AI-powered collaboration, search and web browsing.
System interoperability continues to be top of mind in 2023. With the API management market poised to nearly double over the next four years (growing to a $8.2B industry), the need for seamless integrations to connect firm systems, improve access to data and content, and create efficient workflows for clients and internal users, remains mission critical to building next-generation business solutions.
On the security and governance end, insights shared show the puck is moving at record speed, and that cybersecurity is no longer an IT conversation, but an organizational priority for top leaders.
NetDocuments’ Baxter concludes: “Technology trends in legal continue to accelerate as the requirements and impact become more vital to operational excellence, controlling costs, dedicating legal professional time to the most strategic items, and exceeding client expectations. This report is designed as a guide to help further inform readers on their technology path forward or challenge positions they may have held regarding specific trends.”
The NetDocuments Annual Report, 23 Legal Technology Insights for 2023, encapsulates a year-long dialog and interactivity within the legal community distilled into key themes across automation, AI, collaboration, governance & security, productivity, and integrations. Instead of a singular focus on one challenge, solution, or trend, this comprehensive guide provides ‘big picture’ macro visibility into what challenges, motivates, and inspires legal professionals.
Download your full copy of the Report, 23 Legal Technology Insights for 2023, or get a sneak peek at some of the trends covered in the new blog post.
