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Section 3 – Technology and innovation
G C C H A L L E N G E S E N C O U N T E R E D W H E N T R Y I N G T O H A R N E S S T E C H N O L O G Y
T E C H N O L O G Y I N I T I AT I V E S H AV E
There is a significant knowledge and skills gap. 37% of General Counsel see deciding what technology would make the best investment as a barrier, while a quarter cite lack of knowledge. The accelerated development of tech-based partner and supplier relationships is required to fill knowledge gaps and upskill teams. The GDPR remit of General Counsel, coupled with their crucial role in managing the legal implications of the use of AI and data within their organisations, is bringing them to the forefront of conversations about digital ethics. Developing ethical rules and codes of conduct for data management will continue to evolve as a central responsibility of legal departments, demanding further integration with and understanding of the objectives, priorities and responsibilities of other corporate functions including marketing, HR, technology, operations and finance functions.
N O T A LWAY S L I V E D U P T O E X P E C TAT I O N S
Our survey conducted just at the outset of the pandemic suggests that most General Counsel in large legal departments have embarked on transformational technology projects, but that implementation has often been problematic. 38% of General Counsel say that past technology initiatives have not lived up to expectations, up from 25% last year, and a fifth have experienced schedule overruns. However, despite these frustrations, the biggest perceived challenge to the effective harnessing of technology is having access to the budget and skills to resource innovation projects. Although the situation has been improving and the ability to respond to COVID-19 pressures so quickly and effectively has increased confidence, the in-house legal community has been slow to develop its use of innovative technology – budgets remain tight and false economies of under-investment are holding back many legal functions.
Difficulty getting budget
59 %
Hard to decide in which technologies to invest
52 %
Issues with legacy systems
47 %
Lack of time
41 %
Lack of relevant knowledge
41 %
Technologies did not live up to expectations
38 %
Concerns about data privacy and data regulation
25 %
Technology implementation overrunning
21 %
The legal framework for some technology is still in development
20 %
Resistance to change from the Board
20 %
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