Seventy-seven percent of legal professionals believe that a lack of familiarity with the available Legal Tech solutions is one of their biggest challenges. In Asia, there are 33 categories of Legal Tech solutions, yet General Counsels (GCs) in the Asia Pacific region are primarily familiar with e-signature software (86%), document management systems (37%), and file instruction intake/triage tools (28%). Only 28% utilize contract lifecycle management solutions, which could provide significant productivity boosts and risk reduction for legal departments.

Furthermore, there are substantial gaps in digital awareness and understanding, particularly regarding legal artificial intelligence (Legal AI) and Legal Analytics. More than 80% of GCs and Chief Legal Officers (CLOs) in the Asia Pacific rated their understanding of these technologies as below average. This is concerning, given the transformative potential of Legal AI and analytics on legal functions.

Implementing Legal AI and analytics tools can be challenging, but it is essential for legal teams aiming to stay competitive. When executed effectively, these technologies enable teams to operate more efficiently, make informed data-driven decisions, reduce costs and complexities, and lay the groundwork for further transformation, new services, and innovative offerings.

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