Constantly Changing Reality Global Trends, Emerging Technologies and the Future of Corporate Legal IT

1. Constantly Changing Reality Global Trends, Emerging Technologies and the Future of Corporate Legal IT Legal Tech New York 2014 February 4th 2014 Rohit Talwar - CEO Fast Future Research www.fastfuture.com rohit@fastfuture.com Twitter @fastfuture

2. 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 legal IT • Conducted January – December 2013 • Publication – March 2014 • 6 Sponsors • Combined desk research, interviews with managing partners, CIO’s, vendors, futurists and technologists, global surveys on the business applications of IT (499 responses) and emerging technologies (223 responses) • Key findings are presented on the following pages including the highest ranked responses in the surveys

3. ‘Future Proofed’ Organisations Work on 3 Horizons in Parallel 1-12 Months Operational Excellence 1-3 Years Drive for Innovation Efficiency, Growth 4-10+ Years Creating the Future

4. The Future is Being Created Now...

5. Economic and Political Uncertainty and Turbulence are the ‘New Normal’

6. Continued Global Shifts Of Influence, Wealth and Power to Emerging Markets

7. Socio-Demographic Forces are Reshaping Society Free education is a game changer

8. Sustainability Issues Will Play a Bigger Role in Decision Making

9. Financial Innovation is the New Normale.g. Assets: ‘Usership’ vs. Ownership

10. Rapid Execution e.g. Superfast ConstructionArk Hotel - Dongting Lake - China

11. ‘Magic’ and Science are Blurring Mapping and Uploading the Human Brain Cognitive, Genetic, Physical and Electronic Enhancement of the Human Body The biological era is emerging

12. ‘Big Science’ is the Battleground

13. Our Technologies are Evolving From Desktop to Mobile ...

14. ...to Wearable...

15. ...to Embedded...

16. ... to Grown and Grafted...

17. …and totally Connected via ‘The Internet of Everything’ “What happens when the smartest thing in the room is the room itself?” Madeleine Albright

18. Artificial Intelligence is Going Mainstream 88% AI advisers / helper apps will structure legal documents and check content generated by lawyers 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

19. Technology Timeline (0-12 Months)

20. Technology Timeline (2-5 Years)

21. Technology Timeline (6-10 Years)

22. Technology Timeline (10+ Years)

23. Turning Insight into Opportunity Models Markets Mastery Muscle Magic Management Mindset Message Message

24. Markets – Do we Understand How the Business is Changing? Leverage Existing Strengths / Relationships Develop New Capabilities Emerging Market Activity / Needs Needs of Fast Growth Activities New Science and Technology

25. Mastery – Where do we Need to Excel?E.g. Collaboration, Service, Managing Change, Operational Processes, Technology Planning, Foresight and Insight Baker Donelson - Client Access to Workflow

26. Muscle – What New Survival and Growth Capabilities do we Need? Bradford Barthel – AI Case Analysis

27. Magic – How to Create ‘Wow Factors’ for Different Customer Types?

28. Message – How do we Align our Actions with our ‘Brand Story’? Bryan Cave - Innovation Department

29. Models – Asset Finance, Innovation and Revenue

30. Mindset – Uncertainty Tolerant, Experimental, Curious, Sticky and Magnetic Allen & Overy – Technology Fair

31. Management – What Critical Actions can we Take to Drive the Future? Reynolds Porter Chamberlain - Edge

32. Which are we Pursuing? Models Markets Mastery Muscle Magic Management Mindset Message Message

33. Strategic Imperatives - Embedding IT in the DNA

34. Embed Horizon Scanning and Anticipatory Planning

35. Develop IT Vision and Roadmap

36. Globalized Delivery Model 81% Mobility 63% Increasing Globalization

37. Raise Business Awareness of IT as Disruptor and Differentiator

38. Regular Review of Law Firm IT Vision, Strategy and Capabilities

39. Conclusions – 21st Century Survival Skills • Foresight / Curiosity • Sense making • Accelerated learning • Uncertainty tolerant • Scenario thinking • Embrace complexity • Networking • IT Innovation

40. Useful Reference Sources • Genetic profiling - https://www.23andme.com/ • X Prize - Breakthrough innovation projects - http://www.xprize.org/ • Google brain uploading - http://digitaljournal.com/article/352787 • Brain mapping projects - http://www.technologyreview.com/news/513011/why-obamas-brain-mapping-project-matters/ • Global Future 2045 (immortality) http://2045.com/ • Human enhancement - http://en.wikipedia.org/wiki/Human_enhancement • Wearable technology – Google Project Glass - http://www.google.com/glass/start/ • Emotiv Epoc Brain-Computer Interface - http://www.emotiv.com/ • AI Essay Grading Software - http://www.nytimes.com/2013/04/05/science/new-test-for-computers-grading-essays-at-college-level.html?pagewanted=all&_r=0 • Crypto currencies – • http://www.abc.net.au/technology/articles/2013/09/25/3855973.htm • http://en.wikipedia.org/wiki/Cryptocurrency • http://en.wikipedia.org/wiki/List_of_cryptocurrencies • Autonomous cars - • http://www.engineering.com/DesignerEdge/DesignerEdgeArticles/ArticleID/6357/Tesla-Working-on-Autonomous-Car.aspx • http://www.popsci.com/cars/article/2013-09/google-self-driving-car