The KPMG Report for LATAM on Technological Innovation and Digitalization in Latin America’s legal sector highlights revealing data:
– Only 12% of participants have assessed the digital maturity of their legal departments, making strategic transformation planning more difficult.
– More than 82% of the corporate lawyers surveyed have only a superficial understanding of the available LegalTech tools and their functions.
– Approximately 17% of the organizations surveyed have implemented LegalTech solutions, with 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 appears a distant prospect for legal departments because of concerns about operability, costs and the analysis of legal risks associated with regional regulation.
– Unlike the findings of international surveys, the diversification of roles within Latin American legal departments remains at an early stage, as 97% of their members are lawyers.
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Meta Channel Corp Offers You:
The report provides an enlightening view of the current challenges in Latin America’s legal field. In light of these data, Meta Channel Corp offers you:
1. **Digital-maturity assessment: Personalized assessment services to determine the digital-maturity level of legal departments, thereby helping them chart precise transformation strategies.
2. **LegalTech training and knowledge: Comprehensive training programs for corporate lawyers, providing a deeper understanding of the available LegalTech tools and their practical applications.
3. **Implementation of LegalTech solutions: Specific contract-management and workflow-automation solutions tailored to the needs identified in the survey, facilitating effective adoption of these tools.
4. **AI and legal compliance: Advice on implementing AI-based solutions that addresses concerns about costs, operability and regulatory compliance while ensuring alignment with European regulation.
5. **Role diversification: Advice on integrating complementary professional profiles alongside lawyers in legal departments, highlighting the benefits and offering strategies for the successful incorporation of these diverse roles.
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