KPMG’s report for Latin America on technological innovation and digitalisation in the region’s legal sector reveals some striking figures:
– Only 12% of participants have assessed the digital maturity of their legal departments, which makes strategic planning for transformation difficult.
– More than 82% of the in-house lawyers surveyed have only a superficial knowledge of the LegalTech tools available and what they do.
– Around 17% of the organisations surveyed have implemented LegalTech solutions, digital signatures being the most common; however, there is growing interest in contract management and workflow automation solutions.
– Widespread adoption of AI solutions such as GenAI seems a long way off for legal departments, owing to concerns about operability, costs and the analysis of the legal risk associated with regional regulation.
– Unlike in international surveys, the diversification of profiles in Latin American legal departments is still at an early stage, as lawyers make up 97% of their members.
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Meta Channel Corp offers:
The report sheds light on the challenges currently facing the legal sector in Latin America. In view of these figures, Meta Channel Corp offers:
1. Digital maturity assessment: tailored assessment services to determine how digitally mature legal departments are, helping to map out precise transformation strategies.
2. LegalTech training and knowledge: comprehensive training programmes for in-house lawyers, deepening their knowledge of the LegalTech tools available and their practical applications.
3. Implementation of LegalTech solutions: specific contract management and workflow automation solutions, tailored to the needs identified in the survey, so that these tools are adopted effectively.
4. AI and legal compliance: advice on implementing AI-based solutions, addressing concerns about costs, operability and regulatory compliance, and ensuring alignment with European regulation.
5. Diversification of profiles: advice on bringing professionals with profiles complementary to that of the lawyer into legal departments, highlighting the benefits and offering strategies for integrating these diverse profiles successfully.
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