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RHTLaw Taylor Wessing Deputy Managing Partner Azman Jaafar was quoted in The Edge article titled “Lawyers may need tech skills as AI changes nature of legal industry”.
The article was first published in The Edge Singapore on 2 October 2017.
As the legal industry is being swept by the digital wave, this articles discusses that artificial intelligence (AI) allows legal firms to be more innovative and efficient in providing legal services to clients. Azman commented that AI will result in a reduced headcount in law firms. While the initial commitment to acquiring AI is high, the cost of implementing AI will be cheaper in the long run. On whether legal fees will decline and if law firms could be forced to modify their business models, he noted that fees are largely dependent on the complexity of a transaction and the desired outcome rather than the costs of achieving it, though automated components of legal work may become less costly over time.
The full article dated Monday 2 October 2017, can be found in The Edge Singapore.