José Dominguez, the head of Legal Professionals at Thomson Reuters Latin America, authored the text.
The amount of data generated globally has significantly increased in recent years, reaching 44 trillion gigabytes by the end of 2020. This rapid growth, doubling every two years, has had a profound impact on various fields such as artificial intelligence, Big Data analytics, and business intelligence.
The legal sector has experienced a significant increase in data volume, with over five million normative texts issued in Brazil since 1988. Between 2005 and 2016, 2,093 laws and 464 provisional measures were put into effect. Additionally, from 2009 to 2017, the number of legal cases in Brazil rose by 32%, contributing to an overall growth of more than 80% in the legal market over the past 12 years.
This expansion will continue to grow, leading to a decrease in our perceived reliability of information as more data is added. Processing such large amounts of information effectively is improbable. Adapting to change is essential in this shifting landscape, particularly in the legal field where embracing digital transformation is no longer a choice but a necessity. The question remains: how do we proceed?
There is significant worry about technology replacing jobs and industries, but this is unlikely to occur as technology also creates new work opportunities.
Legal knowledge has become more extensive and interconnected globally in recent decades, requiring legal professionals to adapt to the increasing volume of information and data. This shift towards greater automation and the need for faster responses necessitate lawyers to work more intelligently and efficiently.
Brazil currently has 1.1 million lawyers, equating to one lawyer for every 180 residents. Additionally, each year sees the introduction of hundreds of thousands of new lawyers into the market, intensifying competition and fostering opportunities for improved competitiveness through technology and innovation.
67% of lawyers reported spending over 40% of their time on non-revenue-generating tasks in a 2019 Thomson Reuters survey. Lack of optimization in internal processes may be a contributing factor, as 40% of lawyers use fragmented content tools. Furthermore, only 11% see integration between management and content as a competitive edge.
The key to enhancing data volume is to utilize analytics and artificial intelligence for organizing, extracting insights, and enabling continuous learning in professionals, legal offices, and machines. Automation helps in monitoring regulatory changes and providing reliable content for generating precise arguments. By employing smarter analyses and predictions, machines can handle urgent tasks, allowing us to focus on important matters and reduce response times.
Digital transformation may render certain tasks obsolete, but it also creates a need for roles such as data scientists and data security auditors. As tasks diminish, new professions emerge, highlighting the importance of balancing human expertise with automation to shape the future of various industries, including law.
LEGAL ASPECTS
The digital revolution is transforming strategic management and intelligence for legal firms and departments.
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