In the past year, the digital transformation, which was already becoming more prominent, has accelerated even further. The company’s operations have become more dynamic and flexible with the adoption of new technologies.
Time spent on repetitive tasks has been decreased, and there has also been a cut in asset spending.
In the legal field, technological advancements are not progressing as quickly as in other sectors, with technology designed for the legal market lagging behind innovations in other industries.
Legal remedies are becoming more powerful, so it’s important to stay informed.
In this article, we outline the primary trends expected for legal offices in 2022. Join us!
The five key trends for legal offices in 2022
Utilization of blockchain technology
Blockchain technology, along with smart contracts, has the potential to enhance legal security in the legal field in 2022.
Blockchain offers a secure network for information exchange, which conflicts with offices adapting to comply with the regulations of LGPD (General Data Protection Act).
Smart contracts offer the potential to speed up legal procedures by automating and carrying out agreements without human interference or tampering, in addition to providing network security.
Smart contracts are lines of code stored in a blockchain that execute automatically when specific conditions are fulfilled by both parties.
When we apply this technology to a trend in 2022, it offers more than just the opportunity to improve productivity.
Every action or modification in the contract is recorded on the blockchain publicly and permanently, ensuring the document’s integrity.
The information is decentralized and divided into small parts scattered across the blockchain, making it impossible to delete or alter the document due to its connection and timestamps in the chain.
Increased investment in technologies
Technology investment in law firms has significantly increased due to the impact of COVID-19, as new tools are required to sustain productivity in remote working environments.
Expenditure is expected to increase further in 2022 as there is a growing desire to enhance efficiency in the upcoming years.
An American Bar Association survey indicates that 62% of small law firms allocate funds for technology expenses. The research shows that, on average, companies invest $20,000 annually in software.
Gartner forecasts an increase in the resources companies will dedicate to technology by the end of 2025, as the effective use of technology tools enhances the competitiveness of legal offices in the current market.
Remote work effectiveness
Companies must create procedures that allow employees to work remotely effectively without disrupting the workflow, as demonstrated by the events of the COVID-19 pandemic.
Many offices needed to adjust to the hybrid model and video conferencing to ensure continuity. Despite initial resistance from some offices, the transition yielded positive outcomes.
Companies can save a minimum of $2,000 per employee when they work from home, according to researchers at Stanford University.
63% of employees experienced significant professional growth while working remotely, as per a survey by Forbes.
Remote work is expected to be a significant trend in the legal industry in 2022, even if it becomes unnecessary in the future.
Work automation refers to the use of technology to perform tasks that were previously done by humans.
Automation technology tools, along with smart contracts, are expected to become more prevalent in 2022, with document automation likely being the first area to see increased adoption, particularly among law firms already familiar with similar software such as Google Docs.
Another industry that will be affected by technology is contract management, as there are existing tools in the market designed to detect and emphasize irregularities in documents.
Legal firms will experience increased efficiency and productivity, allowing them to redirect their attention to other responsibilities.
Legal research is the fifth step in the process.
The American Bar Association’s research mentioned earlier found that legal research takes up 18% of a lawyer’s time.
Some people use Google or paid resources to obtain the required information. Thus, utilizing tools that enhance efficiency in legal research is a significant trend for 2022 based on statistical data.
Technology is already widely integrated into the legal sector and is expected to become increasingly prevalent in offices in the future, as these tools have played a crucial role in navigating challenging times with minimal impact.
Technological advancements offer significant advantages through enhanced data protection, efficiency, and cost control.
Discover additional ways technology can aid in saving time and minimizing risks.