In recent years, Artificial Intelligence (AI) has dominated the news and is frequently used as an umbrella term encompassing a wide array of technologies, many of which predate modern AI. In its true sense, AI refers to systems that are designed to mimic human intelligence, including learning, comprehension and problem solving. However, not all technologies currently being promoted under the AI designation meet this definition. While AI is expected to have sweeping and transformative effects across numerous professions, including the legal sector - it is important to remember that all types of technologies can create opportunities and risks.
Within this context, in-house counsel are increasingly adopting new technological solutions to streamline their workflows and enhance efficiency to add value to their organizations. From contract management to governance, incorporating technology into daily practice is reshaping how in-house legal teams operate within the business. This article highlights several practical ways in-house counsel can leverage technologies apart from AI to optimize their functions.
1. Contract Management
Managing agreements is essential to all in-house teams in order to mitigate risk and increase the likelihood that contracts perform as intended. Contract Lifecycle Management (CLM) software automates and streamlines contract processes during various stages, helping teams manage every aspect of a contract lifecycle, from execution to expiration. There are several CLM systems currently on the market that help teams to facilitate the creation, storage and tracking of agreements. In-house teams can select the appropriate products for their situations, considering the challenges, requirements, and budgets of their organization.
2. Data Analysis
Traditionally, data analysis has been a challenge for in-house legal teams due to lack of resources that allowed data to be measured appropriately and reported out. However, as organizations begin to expect that their in-house teams operate like other business units, data analysis is becoming a priority. The process revolves around creating, categorizing, and examining data sets to allow in-house teams to make informed decisions and increase their operational efficiency. This data can provide a breadth of information ranging from legal outcomes to use of legal budgets. As such, appropriate data analysis tools can provide visibility and insights to in-house teams in order to create actionable intelligence for legal decision making.
3. Cybersecurity and Data Privacy Compliance
Ensuring compliance with the legislative requirements pertaining to privacy is crucial for today’s in-house teams. By partnering with technical and security teams in their organization, in-house lawyers can understand the unique risks associated with various organizational IT assets. While there are many technology aids that assist counsel in monitoring and managing data security and ensuring that their data privacy compliance processes are up to date, it is also imperative that these tools are consistent with the organization’s current infrastructure.
4. Automated Language Translations
Organizations that operate throughout Canada or globally face unique challenges when it comes to use of multiple languages within the business. Not only do such organizations need to ensure that the teams across the jurisdictions can adequately communicate with one another, they also need to ensure that they comply with various legislative requirements pertaining to language. Advanced translation tools can help in-house teams interpret legal documents, contracts and communications, ensuring understanding across all languages. While this type of software may not completely override the need for human translation, it certainly helps in-house counsel expedite communication within the organization.
This article only mentions a few of the ways in which in-house counsel can utilize technology to enhance their day-to-day practice. As technology evolves, in-house teams can optimize their roles through innovative tools and resources. Embracing technological advancements not only improves operational efficiencies within the team but also solidifies the importance of the in-house department within the business.
Any article or other information or content expressed or made available in this Section is that of the respective author(s) and not of the OBA.