Worldwide tech spending is expected to surge in 2024, pushed by the increased application of artificial intelligence solutions. The ripple effects of this growth are likely to transform the legal realm as well, signaling opportunities and challenges for practitioners in this sector. As reported by Sonia Baldia at Kilpatrick, there will be five crucial areas of expansion that legal professionals, particularly technology lawyers, will want to examine.
Artificial intelligence (AI), with its ever-evolving tools and strategies, continues to spearhead the advancement of technology. This development resonates across a variety of sectors, with major implications for the legal field. AI’s impact on the future of the legal tech landscape is projected to be both significant and disruptive.
In turn, this technological push is likely to have certain implications for the legal sector. Recent trends and forecasts hint at the looming transformation in how legal services are delivered. That indeed combines with the expectation of a substantial upswing in worldwide technology spending in 2024.
These particularly mirror important insights that legal professionals—specifically tech lawyers—would do well to take cognizance of in the context of their practice and strategy. Observing these changes can enable tech lawyers to tap into the unfolding opportunities and prepare for potential challenges.
However, the specifics on exactly what these five areas of growth are as described in Baldia’s original report may be viewed here.