Are you going to LegalTech? Thousands of legal professionals are expected to gather for LegalTech East, from Jan. 31 to Feb. 2 in New York City. The annual tradeshow explores technological trends disrupting today's legal industry.
LegalTech 2017 will touch on a number of industry driving topics, including everything from eDiscovery strategies leveraged by advanced analytics and The Cloud to information governance measures to address escalating compliance requirements and regulatory demands.
Key drivers for LegalTech attendees are to learn how the industry’s most successful firms are preparing for the future including insight on alternatives to traditional legal service providers, discover tools and best practices to harness the benefits of cloud-based process automation by 2020 and beyond and understand how millennials and the new landscape of the legal workforce are affecting expectations regarding data privacy and security.
What to expect at LegalTech 2017?
- Digital Disruption: Digital technologies are rapidly evolving the way we work. From smartphones and tablets to Internet of Things devices, the way business gets done is changing fast. Today, organizations are thinking about the most efficient ways to find the right information, at the right time for the right person – on any device, 24/7.
- Digital Archive Strategy: Many organizations are facing massive pressure to comply with regulations and rules that apply to multinational, public companies generating vast volumes of data from multiple applications. Through implementing a digital archive program, organizations can better manage the exponential growth of information in a complaint fashion while reducing regulatory exposure and maintaining governance.
- Enterprise Legal Management Hits Primetime: Legal departments in nearly all key industries are right now experiencing unprecedented levels of activity. In the Life Sciences industry, for example, much activity is derived from surges in areas from M&A patent protection to regulatory compliance and contract performance management. In the Financial Services market today, retail and corporate banks and capital markets firms globally are managing demands and challenges from elevated regulations, continual economic uncertainties, revenue and profit pressures, emerging competition and, of course, risks.
- What About Blockchain? Yet another digital disruption poised to change the way effective business gets done is blockchain, which is rapidly gaining attention. Blockchain is a distributed ledger that is increasingly discussed as a digital disruption technology with innovative potential in all areas of financial services, with a focus in the banking sector. However, blockchain technology also offers strong opportunities for insurers. In fact, according to the McKinsey report, Blockchain in insurance – opportunity or threat, blockchain technology offers potential use cases for insurers that include innovating insurance products and services for growth, increasing effectiveness in fraud detection and pricing, and reducing administrative cost.
- Millennial Engagement: Millennials want insurance companies to talk to them - directly to them - on their terms, and on their mobile platforms, with transparency and education topping the list of communications mandates. Millennials are big on online marketplaces and rich videos, with interactive tools customized for the way they think, shop, search and buy, not to mention social media engagement too. Millennials expect a modern holistic philosophy when it comes to voluntary benefits options, with an emphasis on behavioral health benefits designed to recognize everything from depression to anxiety.
Are you attending LegalTech 2017 in New York City? Paragon's Leigh Anne Siino will be there! What big trends will drive LegalTech? Let us know your thoughts in our Leave a Comment section below!