Download - Transforming Business Practices and
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Transforming Business Practices and Processes in Tomorrow’s Law Firms
and Law Departments
Rohit Talwar CEO – Fast Future Research
Project Director - ILTA Legal Technology Future Horizons Study
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Objectives of ILTA Legal Technology Future Horizons Project
• Identify key business, legal and IT trends and developments
• Build timeline of emerging technologies and IT developments with high potential legal impact
• Explore IT’s transformative role in future legal business models and service differentiation
• Highlight strategic imperatives for effective use and management of IT in legal.
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Contents • Presentation p. 4
• About Fast Future p. 69
• Image Sources p. 78
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‘Future Proofed’ Organisations Work on 3 Horizons in Parallel
4-10 Years
Creating the Future
1-12 Months
Operational Excellence
1-3 Years
Drive for Innovation Efficiency,
Growth
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The New Normal – Disruption and Change
What’s your appetite?
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Turbulent and Uncertain
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Shift Of Wealth, Influence and Power to Emerging Markets.
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Business-Wide Forces Shorter, faster
business cycles
Talent shortages
Disruptive innovation
Rapid spread of
science and technology advances
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The World in 2025
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The Evolving Legal Agenda Increasing: • Client demands for transparency, information,
efficiency and innovation • Demographic shifts and changing customer
expectations • IT in the front line • Regulatory scrutiny / complexity • Security, data protection and data privacy issues • Consumerisation, price competition and
commoditisation • Spread of alternative business structures • Impact of disruptive new market entrants
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New Technologies and Investors Drive Sector Entrants
Strategic Challenges
Leverage Transparency, Expertise and IT /AI
New Thinking, Working Practices and Models
Over Capacity / Supply of Talent at all Levels
New Sectors - New Approaches
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Future Proofing the Business
Mastery Markets
Models
Magic
Management Mindset
Muscle
Message Message
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Markets – Where Will Future Business Come from and Work be Done?
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Demographic Destinies 2 billion more people in 40 years –
Demographics is Driving Economics
1998
448 691
729
5231
4216
740
1051
346
596
Source : United Nations 2011 2050
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Markets – Focus on Growth Industries and Sectors
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Mastery – Foresight, Insight, Processes, Service, Collaboration, Change Management and Technology
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Mastery – Foresight and Insight e.g. ‘Horizon Scanning’ and Timeline Development by Sector
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Process Excellence – e.g. High Throughput Surgery Narayana Hrudayalaya Hospital
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Technology Priorities and Challenges
Real Time, Sense Making, Facilitation, Nimble, Bottom up, User Generated, Social, Communities, Rich Media, Video, Augmented Reality, Gamification, Virtual Worlds
and Knowledge Curation
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Muscle – New Capabilities
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Muscle – Rapid Decision Making
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Muscle – Speed of Execution e.g. Ultra-Quick Construction
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Muscle – Apps & Social Media Reynolds Porter Chamberlain - Edge
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Bryan Cave - Innovation Department
Naspers – ‘Fail Fast and Cheaply’
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Magic – Creating the Wow Factor
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A&O - Client Knowledge Tools
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Morrison & Foerster Courtroom Dashboard
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Message Alignment
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Baker Donelson - Client Access to Workflow
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Business Models – Multiple Pre-emptive Solutions
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Assets: ‘Usership’ vs. Ownership
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Innovation: e.g. Kickstarter.com
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Revenue: E.g. Auctions
£3088 £8791.50 £81
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Mindset - 3 Horizon Thinking
• 12 Months
• 1-3 Years
• 4-10 Years
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Mindset - Tolerant of Uncertainty, Curious, Sticky and Magnetic
Encourage Experimentation
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Management - Lead or Follow?
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Management - Make Time and Space for Change
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Tackling Complexity • Customer Interface
• Process
• Organisation
• Information / Systems
• Regulatory
• Human
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Future Proofing the Business
Mastery Markets
Models
Magic
Management Mindset
Muscle
Message Message
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Conclusions
The future is largely a matter of choice
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Which emerging technology developments are you pursuing today or could you see having the greatest impact on expert decision making, knowledge management and the conduct of legal processes?
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Deep Technology Immersion
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SoMoClo and BYOD
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Universal Translators
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The ‘Internet of Things’
“What happens when the smartest thing in the room is the room itself?” Madeleine Albright
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Digital Currencies
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Intelligent Web
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Temporary Social Media
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Collaboration - Orrick Distributed Telepresence
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3D / Immersive Telepresence
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Real Time Multi-party Editing
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Shared Data / Knowledge Bases
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Gamification
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AI - IBM Watson wins Jeopardy
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Artificial Intelligence
Speech / gesture / image recognition,
integrated analytics,
knowledge management, image / video / voice mining,
client self-service, intelligent
documents, expertise systems,
collaboration, secure email,
virtual assistants, intelligent agents
and collective intelligence
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Deep Learning Systems
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Intelligent Agents / Assistants
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Collective Intelligence
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Knowledge Management Next
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Big Data and Predictive Analytics
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In-Memory Real-Time Analytics
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Which emerging technology developments are you pursuing today or could you see having the greatest impact on expert decision making, knowledge management and the conduct of legal processes?
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What capabilities are required to leverage and manage emerging technologies effectively in tomorrow’s law firm / law department?
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Thank You
Don’t forget to take the Surveys
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Survey 1 - explores the potential business impact of information technology on business in general and the Legal Industry over the next ten years: http://s.zoomerang.com/s/futurehorizons Survey 2 - presents and explains a wide range of emerging and possible future technology developments and asks for an assessment of when they might be picked up by pioneers: http://s.zoomerang.com/s/ILTAEmergingTech
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About Fast Future
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Fast Future – Core Services
• Live Events - Speeches, briefings and workshops for executive management and boards of governments, investment funds, development agencies , companies, airlines, airports, hotels, venues, CVB’s and associations
• Future Insights - Customised research on emerging trends, future scenarios, technologies and new markets
• Immersion - ‘Deep dives’ on future trends, market developments, emerging issues and technology advances
• Strategy - Development of strategies and business plans
• Innovation - Creation of business models and innovation plans
• Engagement - Consultancy and workshop facilitation
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Fast Future • Research, consulting, speaking, leadership • 5-20 year horizon - focus on ideas, developments, people, trends and forces
shaping the future • Clients
– ING, ABN Amro, Laing O’Rourke – Marks and Spencer – Airports - Aeroports de Paris / Schiphol Group – Vancouver Airport Services – Industry Associations – ICCA, ASAE, PCMA, MPI – Corporates - GE, Nokia, Pepsi, IBM, Intel, Orange, O2, Siemens,
Samsung, GSK, SAPE&Y, KPMG, Amadeus, Sabre, Travelport, Travelex, ING, Santander, Barclays, Citibank, DeutscheBank
– Governments - Dubai, Finland, Nigeria, Singapore, UK, US – Convention Bureaus – Seoul, Sydney, London, San Francisco, Toronto,
Abu Dhabi, Durban, Athens, Slovenia, Copenhagen – Convention Centres – Melbourne, Adelaide, Qatar, QEIICC – Hotels - Accor Group, Preferred, – Intercontinental – PCO’s - Congrex, Kenes
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Our Services Bespoke research; Identification & Analysis of Future Trends, Drivers & Shocks
Accelerated Scenario Planning, Timelining & Future Mapping
Identification of Opportunities for Innovation and Strategic Investment Strategy Creation &
Development of Implementation Roadmaps
Design & Facilitation of Innovation, Incubation & Venturing Programmes
Expert Consultations & Futures Think Tanks
Personal Futuring for Leaders and Leadership Teams
Public Speaking, In-Company Briefings, Seminars and Workshops
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Example Projects • Public and private client research e.g. :
– Reinventing the Airport Ecosystem
– Development of Market Scenarios, emerging trends and strategies for key clients
– Government and OECD Scenario Projects – e.g. Migration 2030, Future of Narcotics, Chemical Sector, Family 2030
– Scenarios for the global economy for 2030 and the implications for migration
– Designing Your Future (Published August 2008) – book written for the American Society of Association Executives & The Center for Association Leadership
– Global Economies – e.g. The Future of China – the Path to 2020
– The Shape of Jobs to Come – Emerging Science and Technology Sectors and Careers
– Winning in India and China
– The Future of Human Resources
– Exploiting the Future Potential of Social Media in UK Small to Medium Enterprises
– Convention 2020 – the Future of Business Events
– Future Convention Cities Initiative – Maximising Long-term Economic Impact of Events
– One Step Beyond – Future trends and challenges for the events industry
– Hotels 2020: Beyond Segmentation – Future Hotel Strategies
– The Future of Travel and Tourism in the Middle East – a Vision to 2020
– Future of Travel and Tourism Investment in Saudi Arabia
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Hotels 2020 – Objectives • Identify key drivers of change for
the globally branded hotel sector over the next decade
• Examine the implications for: � Hotel strategy � Brand portfolio � Business models � Customer targeting � Innovation
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• Global strategic foresight study to help the meetings industry prepare for the decade ahead - Industry-wide sponsors
• Multiple outputs Nov 2009 – December 2011
• Current studies on future strategies for venues and destinations
Convention 2020
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Rohit Talwar • Global futurist and founder of Fast Future Research. • Award winning speaker on future insights and strategic innovation –
addressing leadership audiences in 40 countries on 5 continents • Author of Designing Your Future • Profiled by UK’s Independent Newspaper as one of the Top 10 Global
Future Thinkers • Led futures research, scenario planning and strategic consultancy projects
for clients in telecommunications, technology, pharmaceuticals, banking, travel and tourism, environment, food and government sectors
• Clients include 3M, BBC, BT, BAe, Bayer, Chloride, DTC De Beers, DHL, EADS, Electrolux, E&Y, GE, Hoover, Hyundai, IBM, ING, Intel, KPMG, M&S, Nakheel, Nokia, Nomura, Novartis, OECD, Orange, Panasonic, Pfizer, PwC, Samsung, Shell, Siemens, Symbian, Yell , numerous international associations and governments agencies in the US, UK, Finland, Dubai, Nigeria, Saudi Arabia and Singapore.
• To receive Fast Future’s newsletters please email [email protected]
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• 50 key trends • 100 emerging trends • 10 major patterns of change • Key challenges and choices for
leaders • Strategic decision making framework • Scenarios for 2012 • Key futures tools and techniques • Published August 2008 • Price £49.95 / €54.95/ $69.95 • Email invoice request to
Designing Your Future Key Trends, Challenges and Choices
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Image Sources
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Image Sources p.1 Page: 2. http://www.mondolithic.com/wp-content/uploads/2008/11/sciam_brain-computer-interface.jpg 4. From left to right: http://www.kleinfelderinsurance.com/img/commercial_insurance.jpg http://www.original-press-releases.com/2011/12/story-article-now-offering-free-article.html http://www.kgwings.com/hawkeye/hawkeye05.jpg 5. http://blog.oxfordknight.com/wp-content/uploads/2012/11/160-challenge-word-cloud-raw.png 6. http://i.telegraph.co.uk/multimedia/archive/01527/roulette_1527989c.jpg 7. http://upload.wikimedia.org/wikipedia/commons/6/61/Map_of_emerging_markets.JPG 8. Clockwise: http://leadingchange21.files.wordpress.com/2010/02/fast-pace-spedometer1.jpg http://netshare.typepad.com/.a/6a00e54efb5ca08834010536c7d88e970b-320wi http://images.sciencedaily.com/2009/07/090727140349-large.jpg http://www.healthtrust.org/dis/images/leftImage.png 9. Inside out, clockwise: http://img.timeinc.net/time/magazine/archive/covers/2009/1101091207_400.jpg http://yogizendude.com/wp-content/uploads/2009/05/vertical_farm.jpg http://blog.engglib2.upd.edu.ph/wp-content/uploads/2009/03/newsweek4.jpg http://batonrouge.myhomecareblog.com/files/2011/07/active_seniors4.jpg http://www.energyrefuge.com/blog/wp-content/uploads/solar_power.jpg http://www.imperial-consultants.co.uk/files/biopharmaceuticals.jpg http://www.nanotechnologyinvesting.us/images/nanotechnology-480.jpg http://cdn.lightgalleries.net/4bd5ec0d18599/images/Cocoon_05-2.jpg http://www.mindcontrol.se/wp-content/uploads/2012/01/Lady-digital.jpg
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