{"id":1878,"date":"2024-08-20T07:15:24","date_gmt":"2024-08-20T07:15:24","guid":{"rendered":"https:\/\/insight.thomsonreuters.com\/sea\/legal\/?p=1878"},"modified":"2024-08-21T04:19:19","modified_gmt":"2024-08-21T04:19:19","slug":"legal-transformation-in-asia-key-insights-from-the-asia-legal-priorities-2024-event","status":"publish","type":"post","link":"https:\/\/insight.thomsonreuters.com\/sea\/legal\/posts\/legal-transformation-in-asia-key-insights-from-the-asia-legal-priorities-2024-event","title":{"rendered":"Legal Transformation in Asia: Key Insights from the \u201cAsia Legal Priorities 2024\u201d Event"},"content":{"rendered":"\n<p>August 2024<\/p>\n\n\n\n<p><em>This article was originally published in Hong Kong Lawyer Magazine and has been republished here with permission. The original article can be accessed\u00a0<a href=\"https:\/\/www.hk-lawyer.org\/content\/legal-transformation-asia-key-insights-%E2%80%9Casia-legal-priorities-2024%E2%80%9D-event\">here<\/a>. The article is written by <a href=\"https:\/\/www.hk-lawyer.org\/authors\/sonali-khemka\">Sonali Khemka<\/a>, Lead Editor,\u00a0Hong Kong Lawyer. <\/em><\/p>\n\n\n\n<p>The impact of artificial intelligence (AI) on various sectors is profound, and the legal industry is witnessing significant transformations as well. Integrating AI into legal practices brings numerous advantages, including heightened efficiency, cost reduction, and improved client experiences. A key benefit of AI in the legal realm is its capacity to swiftly and accurately process and analyse large datasets. This ability not only accelerates legal research and due diligence but also aids in forecasting case outcomes, thereby empowering lawyers to make better-informed decisions. Additionally, AI-powered tools can automate routine tasks such as contract review and document drafting, allowing lawyers to concentrate on more intricate and strategic elements of their work.<\/p>\n\n\n\n<p>In addition to operational efficiencies, AI is also fostering innovation within the legal industry. AI-powered platforms can provide insights and analytics that were previously unattainable, helping law firms and legal departments to develop new strategies and approaches. For instance, predictive analytics can assist in identifying litigation trends and potential risks, allowing for proactive management of legal issues. Moreover, AI\u2019s ability to facilitate better client interactions through personalised services and real-time support is revolutionising client-lawyer relationships. As the legal industry continues to embrace AI, it is poised to not only enhance its traditional functions but also to redefine the future of legal services, making them more accessible, efficient, and effective.<\/p>\n\n\n\n<p>The \u201cAsia Legal Priorities 2024 \u2013 AI, Legal Tech and Operational Excellence\u201d panel roundtable, hosted by Thomson Reuters at the Hong Kong International Arbitration Centre (HKIAC), brought together leading minds in the legal profession to discuss the evolving landscape of legal technology and transformation. Jane Lewis, Vice President of Content Sales in the Asia and Emerging Markets region at Thomson Reuters, opened the session by highlighting the rapid changes and opportunities presented by legal technology. The event, which saw a tremendous response, underscored the profession\u2019s keen interest in leveraging technology to enhance efficiency and service delivery.<\/p>\n\n\n\n<p><strong>Jane Lewis: Embracing Change with Technology<\/strong><\/p>\n\n\n\n<p>Jane Lewis kicked off the event by emphasising the significant changes in the legal profession, driven by the adoption of legal technology. She noted that Thomson Reuters has been integrating AI in its solutions for over three decades, and the advent of generative AI (Gen AI) and large language models (LLMs) is proving to be a game-changer. She pointed out that besides products like Westlaw and Practical Law, legal solutions such as HighQ, Legal Tracker, and Contract Express have also been well-received. This, combined with the recent acquisition of Casetext, as well as the introduction of CoCounsel to the Hong Kong and neighbouring markets, mark a pivotal shift in Thomson Reuters\u2019 evolution as a content-driven technology provider.<\/p>\n\n\n\n<p>\u201cChange is nothing new,\u201d Lewis stated. \u201cProfessionals have been long adapting to new ways of working, but I think Gen AI and the related technologies probably bring more disruptive potential.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/56-1024x683.png\" alt=\"\" class=\"wp-image-1892\" srcset=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/56-1024x683.png 1024w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/56-300x200.png 300w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/56-768x512.png 768w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/56-1536x1024.png 1536w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/56-2048x1365.png 2048w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/56-740x493.png 740w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Joanne Lau: HKIAC\u2019s Commitment to Legal Tech<\/strong><\/p>\n\n\n\n<p>Joanne Lau, Secretary General of HKIAC, welcomed the attendees and expressed HKIAC\u2019s commitment to integrating technology in dispute resolution. She highlighted that HKIAC handles a variety of cases, including arbitration and mediation, and has incorporated technology in its arbitration rules since 2018.<\/p>\n\n\n\n<p>\u201cThese days, I think it\u2019s relatively uncontroversial now to use tech to improve processes to make things run more efficiently,\u201d Lau said. She also pointed out the growing relevance of generative AI in award writing, arbitrator selection, and legal research.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/52-1024x683.png\" alt=\"\" class=\"wp-image-1890\" srcset=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/52-1024x683.png 1024w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/52-300x200.png 300w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/52-768x512.png 768w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/52-1536x1024.png 1536w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/52-2048x1365.png 2048w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/52-740x493.png 740w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Rob Head: Industry Findings and AI Integration<\/strong><\/p>\n\n\n\n<p>Rob Head, Proposition Director at Thomson Reuters, presented the latest survey findings on legal priorities of law firm business leaders and practitioners in Asia. He noted that data protection and cybersecurity remain top priorities, with generative AI and ESG (Environmental, Social, and Governance) issues also gaining prominence.<\/p>\n\n\n\n<p>\u201cImagine giving everyone on your team their own counterpart who can help them with whatever they ask,\u201d Head quoted a legal director from Hong Kong. This sentiment reflects the potential productivity gains from AI integration.<\/p>\n\n\n\n<p>He also highlighted the critical risk considerations, such as accuracy, reliability, and ethical implications, when applying AI technologies in legal practice.<\/p>\n\n\n\n<p><strong>Panel Discussion: Practical Insights and Future Vision<\/strong><\/p>\n\n\n\n<p>The panel discussion, moderated by Stephanie Siu, AI and Legal Tech Lead at Thomson Reuters, featured esteemed panelists from various sectors:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Ben Bury, Director &amp; Group General Counsel, Gammon Construction<\/strong><\/li>\n\n\n\n<li><strong>John Koshy, Head of Group Legal Affairs, Jardine Matheson<\/strong><\/li>\n\n\n\n<li><strong>Jia-Yi Tay, Managing Associate, Linklaters<\/strong><\/li>\n\n\n\n<li><strong>Sebastian Ko, General Counsel DFX Labs<\/strong><\/li>\n\n\n\n<li><strong>Elsa Ho, Senior Legal Operations Manager, HSBC<\/strong><\/li>\n<\/ol>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/IMG_4592-1024x768.jpeg\" alt=\"\" class=\"wp-image-1886\" srcset=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/IMG_4592-1024x768.jpeg 1024w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/IMG_4592-300x225.jpeg 300w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/IMG_4592-768x576.jpeg 768w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/IMG_4592-1536x1152.jpeg 1536w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/IMG_4592-740x555.jpeg 740w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/IMG_4592.jpeg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Ben Bury: The Need for Greater Adoption<\/strong><\/p>\n\n\n\n<p>Ben emphasised the need for greater adoption of legal technology among lawyers. He pointed out that while technology is available, it is not being utilised to its full potential, especially in private practice and in-house settings.<\/p>\n\n\n\n<p>\u201cWe need to start using this fantastic technology to start bringing down the costs of legal services,\u201d Ben argued. He also stressed the importance of law firms getting ahead of the curve in investing in technology to improve service delivery.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/53-1024x683.png\" alt=\"\" class=\"wp-image-1884\" srcset=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/53-1024x683.png 1024w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/53-300x200.png 300w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/53-768x512.png 768w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/53-1536x1024.png 1536w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/53-2048x1365.png 2048w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/53-740x493.png 740w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>John Koshy: Experimenting with Gen AI<\/strong><\/p>\n\n\n\n<p>John shared Jardine\u2019s journey in experimenting with Gen AI for contract summarisation and drafting. Partnering with universities and deploying enterprise versions of AI tools, they have been able to explore the technology\u2019s potential while addressing cybersecurity and data privacy concerns.<\/p>\n\n\n\n<p>\u201cAI will not take your job, but a lawyer who knows how to use AI effectively and efficiently could,\u201d John noted, highlighting the importance of embracing AI to enhance productivity.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/49-1024x683.png\" alt=\"\" class=\"wp-image-1888\" srcset=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/49-1024x683.png 1024w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/49-300x200.png 300w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/49-768x512.png 768w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/49-1536x1024.png 1536w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/49-2048x1365.png 2048w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/49-740x493.png 740w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Jia Yi Tay: Legal Tech in Private Practice<\/strong><\/p>\n\n\n\n<p>Jia Yi from Linklaters shared practical anecdotes about using legal tech tools like Contract Express, AI contract reviewing tools, and legal search tools. She emphasised the significant cost savings and efficiency gains from these tools \u2013 despite these tools not being as technologically advanced as Gen AI tools.<\/p>\n\n\n\n<p>\u201cTechnology helps us achieve these things, right? If you think about all the tools I mentioned earlier&#8230; these are all the low-hanging fruit,\u201d Jia Yi said, arguing that with Gen AI, the cost-saving potential could be even more substantial, compared to that of the simpler tools that have been commonly used so far. She also pointed out that clients are increasingly asking about the innovative methods law firms use to improve efficiencies.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/60-1024x683.png\" alt=\"\" class=\"wp-image-1889\" srcset=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/60-1024x683.png 1024w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/60-300x200.png 300w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/60-768x512.png 768w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/60-1536x1024.png 1536w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/60-2048x1365.png 2048w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/60-740x493.png 740w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Elsa Ho and Sebastian Ko: Change Management and Stakeholder Engagement<\/strong><\/p>\n\n\n\n<p>Elsa and Sebastian discussed the importance of change management and stakeholder engagement in implementing legal tech. They stressed the need for top-down buy-in and bottom-up engagement to ensure successful adoption.<\/p>\n\n\n\n<p>\u201cChange management should not happen the minute you decide to buy a tech. It should happen before and throughout because technology evolves,\u201d Elsa advised.<\/p>\n\n\n\n<p>Sebastian added that finding internal allies and leveraging existing enterprise solutions can help build a minimum viable product to prove the technology\u2019s value.<\/p>\n\n\n\n<p><strong>Practical Tips for Lawyers<\/strong><\/p>\n\n\n\n<p>The event provided several practical insights and tips for lawyers looking to embrace legal technology:<\/p>\n\n\n\n<p><strong>Experimentation and Adoption of AI:<\/strong>&nbsp;Encouraging legal teams to experiment with AI to understand its potential and limitations. As John highlighted, partnering with universities and using sandbox environments can provide a safe space to explore new technologies.<\/p>\n\n\n\n<p><strong>Cost Efficiency and Legal Spend Management:<\/strong>&nbsp;Using technology to manage legal spend and improve service delivery. Ben\u2019s use of Legal Tracker to monitor legal spend and ensure cost-efficiency is a practical example.<\/p>\n\n\n\n<p><strong>Change Management and Stakeholder Engagement:<\/strong>&nbsp;Ensuring top-down buy-in and bottom-up engagement is crucial for successful tech adoption. Elsa\u2019s advice on involving stakeholders early and throughout the process is essential for overcoming resistance and ensuring smooth implementation.<\/p>\n\n\n\n<p><strong>Transparency and Accountability:<\/strong>&nbsp;Ensuring transparent and responsible use of AI and other technologies. Jia Yi\u2019s mention of Linklaters\u2019 AI charter and commitment to transparency and client communication is a best practice.<\/p>\n\n\n\n<p><strong>Leveraging Existing Solutions:<\/strong>&nbsp;Utilising existing enterprise solutions and building minimum viable products to prove the technology\u2019s value before making significant investments. Sebastian\u2019s approach of using existing tools and finding internal allies to support tech initiatives is practical and cost-effective.<\/p>\n\n\n\n<p><strong>Client Communication and Collaboration:<\/strong>&nbsp;Having transparent conversations with clients about the use of technology and how it benefits them. Jia Yi\u2019s point about clients increasingly asking about innovative methods and how they improve efficiencies is a reminder of the importance of client communication.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/1720064111401-1024x768.jpg\" alt=\"\" class=\"wp-image-1891\" srcset=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/1720064111401-1024x768.jpg 1024w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/1720064111401-300x225.jpg 300w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/1720064111401-768x576.jpg 768w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/1720064111401-1536x1152.jpg 1536w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/1720064111401-740x555.jpg 740w, https:\/\/insight.thomsonreuters.com\/sea\/legal\/wp-content\/uploads\/sites\/9\/2024\/08\/1720064111401.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Conclusion: A Call to Action<\/strong><\/p>\n\n\n\n<p>The event concluded with a call to action for legal professionals to embrace technology not just as a tool for efficiency but as a means to transform their practice fundamentally. The panelists\u2019 insights underscored the importance of continuous experimentation, transparent client communication, and strategic stakeholder management in successfully navigating the technological shift in the legal industry.<\/p>\n\n\n\n<p>As Jane Lewis aptly put it, \u201cI think this is a tremendously exciting time for the legal profession.\u201d The event highlighted that with the right approach, legal technology can indeed be a powerful enabler of growth and innovation in the legal sector.<\/p>\n\n\n\n<p>The event provided valuable insights and practical tips for lawyers looking to navigate the rapidly evolving landscape of legal technology. By embracing change, experimenting with new tools, and engaging stakeholders effectively, legal professionals can harness the power of technology to enhance their practice and deliver greater value to their clients.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>August 2024 This article was originally published in Hong Kong Lawyer Magazine and has been republished here with permission. The original article can be accessed\u00a0here. The article is written by&hellip;<\/p>\n","protected":false},"author":80,"featured_media":1191,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[602,10,926,609,1],"tags":[],"insight_job_role":[598,842,741,614],"insight_practice_area":[],"class_list":["entry","author-legal-insight-au","post-1878","post","type-post","status-publish","format-standard","has-post-thumbnail","category-innovation-and-technology","category-legal","category-legal-practice-management","category-legal-technology","category-uncategorized","insight_job_role-in-house-lawyer","insight_job_role-lawyer","insight_job_role-managing-partner","insight_job_role-partner","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Legal Transformation in Asia: Key Insights from the \u201cAsia Legal Priorities 2024\u201d Event - TR - Legal South East Asia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insight.thomsonreuters.com\/sea\/legal\/posts\/legal-transformation-in-asia-key-insights-from-the-asia-legal-priorities-2024-event\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Legal Transformation in Asia: Key Insights from the \u201cAsia Legal Priorities 2024\u201d Event - TR - Legal South East Asia\" \/>\n<meta property=\"og:description\" content=\"August 2024 This article was originally published in Hong Kong Lawyer Magazine and has been republished here with permission. 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