World Services Group Partners with The Legal 500/GC Magazine to Publish 2023
Global In-House Counsel Technology Survey
Survey finds that 92% of in-house counsel want their external law firm partners to be up to date with new technologies and 81% felt that regulators need to be more aware of new legal tech and AI.
World Services Group (WSG) in partnership with The Legal 500/GC Magazine, has published GC: In-House Technology – Global Edition, a special report providing global insights on trending legal technologies and how in-house counsel leaders are adopting, integrating, and utilizing technology.
More than 200 in-house counsel leaders participated in the survey. The report includes in-depth feature interviews with global and regional industry thought leaders. It is the final report in a regional series that includes Europe, Latin America, Asia Pacific, and North America.
Respondent Highlights:
How important is it that your external law firm partners use the latest technology?
92% felt it is either very or somewhat important that law firm partners are up to date with technology.
Should legal tech that uses AI be more regulated?
72% of respondents combined did not think current regulatory frameworks are enough to govern legal tech or were unsure. Regarding what was missing, 81% of respondents felt that regulators were not aware of the issues presented by new legal tech and AI.
Has the need for legal tech adoption increased?
55% answered yes, indicating that in-house legal teams operated under the company’s assumption that increasing legal tech adoption was either necessary or a pre-emptive decision.
What challenges do GCs face when selecting tech solutions?
77% responded that the abundance of legal tech becomes challenging when selecting the most appropriate software solution for the company and department, with the most important consideration being compatibility with existing tools.
"In conjunction with The Legal 500/GC Magazine, WSG is excited to share these key findings in this new report,” stated Herman H. Raspé, WSG Chair, and Partner at Patterson Belknap. “As the world gradually moves into the post-pandemic period and returns to a semblance of normality, one of the most important factors for future success will be how the legal profession applies the lessons from these challenging times – particularly where technology is concerned.”
To access the full report, click here.
About World Services Group
World Services Group is the most prominent global network of independent firms that provides an exclusive setting and platform to connect its members to the most elite legal firms and their multinational clients worldwide. WSG provides cross-industry access to a select few investment banking and accounting firms creating more expansive opportunities to service clients. The network is comprised of over 120 firms worldwide. Members act in over 150 jurisdictions with over 23,000 professionals globally. www.worldservicesgroup.com.