The COVID-19 pandemic has accelerated almost every industry’s digital transformation. From virtual working environments to artificial intelligence, more and more companies are adopting new technologies and adjusting their businesses accordingly. Law firms are no exception.
Law firms are known for being a conservative, old-school businesses. However, they are changing to set themselves up to thrive in the next era. As part of such changes, law firms are now looking for tech-savvy lawyers who understand and implement technologies as they evolve. With that being said, if you are a future lawyer interested in private practice, you should think about how to best prepare yourself for the emerging needs of law firms.
Why Do Law Firms Need Tech-Savvy Lawyers?
Law firms are looking for tech-savvy lawyers as they are inevitably encountering new technologies every day for several reasons.
First of all, many clients are adopting the latest technology in their businesses, which, in turn, introduces a variety of accompanying legal issues. For example, an employer’s use of artificial intelligence in the hiring process may raise discrimination issues, or its use of biometric information may trigger an obligation to accommodate those with religious or disability issues. Therefore, “it becomes valuable, if not critical, to have access to employment attorneys who understand the underlying technology in order to effectively guide our clients on the nuances of the resulting employment law implications,” according to Jason Habinsky, a partner and the chair of Labor and Employment Practice Group of Haynes and Boone.
The same is also true for lawyers working with clients in the investment management industry. “A technology or coding background could be beneficial to lawyers,” says Ricardo Davidovich, a partner in the Investment Management and Private Equity Practice Groups of Haynes and Boone. “In the investment management space today, we see quite a few managers focusing on blockchain, quantitative strategies, artificial intelligence, and other technology-heavy strategies. While we aren’t called upon to advise as to the specific technology, a fundamental understanding of the client’s business and an ability to ‘speak their language’ can only help,” he adds.
Excerpted from Legaltech News. To read the full article, click here.