Transforming Business Practices and Processes in Tomorrow’s Law Firms

and Law Departments

Rohit Talwar CEO – Fast Future Research

Project Director - ILTA Legal Technology Future Horizons Study

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 IT in legal.

Contents • Presentation p. 4

• About Fast Future p. 69

• Image Sources p. 78

‘Future Proofed’ Organisations Work on 3 Horizons in Parallel

4-10 Years

Creating the Future

1-12 Months

Operational Excellence

1-3 Years

Drive for Innovation Efficiency,

Growth

The New Normal – Disruption and Change

What’s your appetite?

Turbulent and Uncertain

Shift Of Wealth, Influence and Power to Emerging Markets.

Business-Wide Forces Shorter, faster

business cycles

Talent shortages

Disruptive innovation

Rapid spread of

science and technology advances

The World in 2025

The Evolving Legal Agenda Increasing: • Client demands for transparency, information,

efficiency and innovation • Demographic shifts and changing customer

expectations • IT in the front line • Regulatory scrutiny / complexity • Security, data protection and data privacy issues • Consumerisation, price competition and

commoditisation • Spread of alternative business structures • Impact of disruptive new market entrants

New Technologies and Investors Drive Sector Entrants

Strategic Challenges

Leverage Transparency, Expertise and IT /AI

New Thinking, Working Practices and Models

Over Capacity / Supply of Talent at all Levels

New Sectors - New Approaches

Future Proofing the Business

Mastery Markets

Models

Magic

Management Mindset

Muscle

Message Message

Markets – Where Will Future Business Come from and Work be Done?

Demographic Destinies 2 billion more people in 40 years –

Demographics is Driving Economics

1998

448 691

729

5231

4216

740

1051

346

596

Source : United Nations 2011 2050

Markets – Focus on Growth Industries and Sectors

Mastery – Foresight, Insight, Processes, Service, Collaboration, Change Management and Technology

Mastery – Foresight and Insight e.g. ‘Horizon Scanning’ and Timeline Development by Sector

Process Excellence – e.g. High Throughput Surgery Narayana Hrudayalaya Hospital

Technology Priorities and Challenges

Real Time, Sense Making, Facilitation, Nimble, Bottom up, User Generated, Social, Communities, Rich Media, Video, Augmented Reality, Gamification, Virtual Worlds

and Knowledge Curation

Muscle – New Capabilities

Muscle – Rapid Decision Making

Muscle – Speed of Execution e.g. Ultra-Quick Construction

Muscle – Apps & Social Media Reynolds Porter Chamberlain - Edge

Bryan Cave - Innovation Department

Naspers – ‘Fail Fast and Cheaply’

Magic – Creating the Wow Factor

A&O - Client Knowledge Tools

Morrison & Foerster Courtroom Dashboard

Message Alignment

Baker Donelson - Client Access to Workflow

Business Models – Multiple Pre-emptive Solutions

Assets: ‘Usership’ vs. Ownership

Innovation: e.g. Kickstarter.com

Revenue: E.g. Auctions

£3088 £8791.50 £81

Mindset - 3 Horizon Thinking

• 12 Months

• 1-3 Years

• 4-10 Years

Mindset - Tolerant of Uncertainty, Curious, Sticky and Magnetic

Encourage Experimentation

Management - Lead or Follow?

Management - Make Time and Space for Change

Tackling Complexity • Customer Interface

• Process

• Organisation

• Information / Systems

• Regulatory

• Human

Future Proofing the Business

Mastery Markets

Models

Magic

Management Mindset

Muscle

Message Message

Conclusions

The future is largely a matter of choice

Which emerging technology developments are you pursuing today or could you see having the greatest impact on expert decision making, knowledge management and the conduct of legal processes?

Deep Technology Immersion

SoMoClo and BYOD

Universal Translators

The ‘Internet of Things’

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

Digital Currencies

Intelligent Web

Temporary Social Media

Collaboration - Orrick Distributed Telepresence

3D / Immersive Telepresence

Real Time Multi-party Editing

Shared Data / Knowledge Bases

Gamification

AI - IBM Watson wins Jeopardy

Artificial Intelligence

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

Deep Learning Systems

Intelligent Agents / Assistants

Collective Intelligence

Knowledge Management Next

Big Data and Predictive Analytics

In-Memory Real-Time Analytics

Which emerging technology developments are you pursuing today or could you see having the greatest impact on expert decision making, knowledge management and the conduct of legal processes?

What capabilities are required to leverage and manage emerging technologies effectively in tomorrow’s law firm / law department?

Thank You

Don’t forget to take the Surveys

Survey 1 - explores the potential business impact of information technology on business in general and the Legal Industry over the next ten years: http://s.zoomerang.com/s/futurehorizons Survey 2 - presents and explains a wide range of emerging and possible future technology developments and asks for an assessment of when they might be picked up by pioneers: http://s.zoomerang.com/s/ILTAEmergingTech

About Fast Future

Fast Future – Core Services

• Live Events - Speeches, briefings and workshops for executive management and boards of governments, investment funds, development agencies , companies, airlines, airports, hotels, venues, CVB’s and associations

• Future Insights - Customised research on emerging trends, future scenarios, technologies and new markets

• Immersion - ‘Deep dives’ on future trends, market developments, emerging issues and technology advances

• Strategy - Development of strategies and business plans

• Innovation - Creation of business models and innovation plans

• Engagement - Consultancy and workshop facilitation

Fast Future • Research, consulting, speaking, leadership • 5-20 year horizon - focus on ideas, developments, people, trends and forces

shaping the future • Clients

– ING, ABN Amro, Laing O’Rourke – Marks and Spencer – Airports - Aeroports de Paris / Schiphol Group – Vancouver Airport Services – Industry Associations – ICCA, ASAE, PCMA, MPI – Corporates - GE, Nokia, Pepsi, IBM, Intel, Orange, O2, Siemens,

Samsung, GSK, SAPE&Y, KPMG, Amadeus, Sabre, Travelport, Travelex, ING, Santander, Barclays, Citibank, DeutscheBank

– Governments - Dubai, Finland, Nigeria, Singapore, UK, US – Convention Bureaus – Seoul, Sydney, London, San Francisco, Toronto,

Abu Dhabi, Durban, Athens, Slovenia, Copenhagen – Convention Centres – Melbourne, Adelaide, Qatar, QEIICC – Hotels - Accor Group, Preferred, – Intercontinental – PCO’s - Congrex, Kenes

Our Services Bespoke research; Identification & Analysis of Future Trends, Drivers & Shocks

Accelerated Scenario Planning, Timelining & Future Mapping

Identification of Opportunities for Innovation and Strategic Investment Strategy Creation &

Development of Implementation Roadmaps

Design & Facilitation of Innovation, Incubation & Venturing Programmes

Expert Consultations & Futures Think Tanks

Personal Futuring for Leaders and Leadership Teams

Public Speaking, In-Company Briefings, Seminars and Workshops

Example Projects • Public and private client research e.g. :

– Reinventing the Airport Ecosystem

– Development of Market Scenarios, emerging trends and strategies for key clients

– Government and OECD Scenario Projects – e.g. Migration 2030, Future of Narcotics, Chemical Sector, Family 2030

– Scenarios for the global economy for 2030 and the implications for migration

– Designing Your Future (Published August 2008) – book written for the American Society of Association Executives & The Center for Association Leadership

– Global Economies – e.g. The Future of China – the Path to 2020

– The Shape of Jobs to Come – Emerging Science and Technology Sectors and Careers

– Winning in India and China

– The Future of Human Resources

– Exploiting the Future Potential of Social Media in UK Small to Medium Enterprises

– Convention 2020 – the Future of Business Events

– Future Convention Cities Initiative – Maximising Long-term Economic Impact of Events

– One Step Beyond – Future trends and challenges for the events industry

– Hotels 2020: Beyond Segmentation – Future Hotel Strategies

– The Future of Travel and Tourism in the Middle East – a Vision to 2020

– Future of Travel and Tourism Investment in Saudi Arabia

Hotels 2020 – Objectives • Identify key drivers of change for

the globally branded hotel sector over the next decade

• Examine the implications for: � Hotel strategy � Brand portfolio � Business models � Customer targeting � Innovation

• Global strategic foresight study to help the meetings industry prepare for the decade ahead - Industry-wide sponsors

• Multiple outputs Nov 2009 – December 2011

• Current studies on future strategies for venues and destinations

Convention 2020

Rohit Talwar • Global futurist and founder of Fast Future Research. • Award winning speaker on future insights and strategic innovation –

addressing leadership audiences in 40 countries on 5 continents • Author of Designing Your Future • Profiled by UK’s Independent Newspaper as one of the Top 10 Global

Future Thinkers • Led futures research, scenario planning and strategic consultancy projects

for clients in telecommunications, technology, pharmaceuticals, banking, travel and tourism, environment, food and government sectors

• Clients include 3M, BBC, BT, BAe, Bayer, Chloride, DTC De Beers, DHL, EADS, Electrolux, E&Y, GE, Hoover, Hyundai, IBM, ING, Intel, KPMG, M&S, Nakheel, Nokia, Nomura, Novartis, OECD, Orange, Panasonic, Pfizer, PwC, Samsung, Shell, Siemens, Symbian, Yell , numerous international associations and governments agencies in the US, UK, Finland, Dubai, Nigeria, Saudi Arabia and Singapore.

• To receive Fast Future’s newsletters please email rohit@fastfuture.com

• 50 key trends • 100 emerging trends • 10 major patterns of change • Key challenges and choices for

leaders • Strategic decision making framework • Scenarios for 2012 • Key futures tools and techniques • Published August 2008 • Price £49.95 / €54.95/ $69.95 • Email invoice request to

rohit@fastfuture.com

Designing Your Future Key Trends, Challenges and Choices

Image Sources

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