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The legal industry in the midst of transformation: how to keep up with the wave of change?

If there is one thing we are aware of, it is that we do not have a clear idea of the changes that technology and connectivity will impose on the development of professions and trades over the years. What to expect in the legal industry?

Thirty years ago, offering services as a lawyer in digital channels seemed like science fiction. Nowadays, legal professionals have accounts in social networks and from there they provide advice to potential clients or collaborate remotely in legal cases, just to mention some of the changes that have been imposed in this profession.

Understanding these new rules is important to start the exercise and enter the labor market, or to continue to successfully stay in it. In late 2016, Forbes magazine, in its article The Future of the Legal Industry, took a look at some of the key issues that are driving change in the profession that not only point to how legal practice has changed, but also how lawyers have had to adapt to it.

Legal industry

Laws change, won't lawyers change?

Laws change. They adjust to the social and economic moment of the space they serve. No law without modification has ever stood the test of reality.

To answer what is the future of the legal industry, Forbes talked to three specialists in the area. These are the three most important changes in the pipeline:

  1. One of the most important factors pointed out by the interviewees is the rise of technology.. This process has led to a "democratization" of the legal industry, as legal services are now available to everyone without intermediaries, and as expected, the situation has increased competition, forcing lawyers and law firms to use more resources to offer their services more directly and efficiently.
  2. Part of these technological adjustments involves the automation of legal services.The automation of systems and administrative offices to manage all processes more efficiently. Law firms that invest in this technology will reduce costs and time when offering their services, which will translate into a satisfied client and the arrival of new interested parties.Automation measures also include the negotiation or modification of hourly pay rates for professionals, as the speed and integration of processes will set a single rate per case, specialists warn.
  3. The one who adapts survives. Those lawyers or law firms that avoid the transformation will gradually reduce the number of their workplaces, which will mean a reduction in new hires of younger professionals who are less resistant to change. Transcending this adaptation will allow the entry of new lawyers trained under new approaches. To this end, it is necessary to to train them in new trends and broaden their training..

Evidence and forecasts suggest that technological changes will continue to impose their pace on the law. However, lawyers will always have to employ creativity, ethics and good judgment in all their practices, aiming to constantly reinvent themselves and stay ahead of the curve to provide the best service.

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