We see high-powered legal teams now becoming business advisers too- with the aid of AI, scouring legal and commercial data, analysing market trends to anticipate changes. They are in best position to advise beyond legal to help identify opportunities and risks that tomorrow holds. They are the fence at the edge of the cliff rather than the ambulance at the bottom.
Commercial Agreements play a vital role in achieving successful business results. If you’re involved in commercial contracting or deal with external parties at any level, you need to be aware of the legal implications to ensure you don’t expose your Organisation to unnecessary risk. Contract drafting involves determining what to say in a contract and how to say it. It does not have to be an alienated area but can be made easy to understand by everyone.
The legal profession has long been regarded as resistant to change and driven by tradition rather than innovation. However, COVID forcefully steered this field into adopting technology which showed some amazing results – and now there’s no going back! AI is disrupting the legal field with its pervasive presence – and it is for the better. As the science fiction writer William Gibson memorably said, ‘the future is already here – it’s just not evenly distributed’.