Demand for legal experts with technology knowledge is high, according to Major, Lindsey & Africa managing director Brian Burlant, who recruits for law firms and in-house legal departments. The was by legal and information site Law.com on April 17.
According to Burlant, law firms are having difficulty keeping up with and industry demands for lawyers because of a lack of candidates who really understand the technology. Burlant said that a lot of lawyers enter the space from regulatory practices or , where they were engaged specifically in practices related to .
Burlant stated that “for law students and those early in their legal careers, coupling a practical business approach with a working understanding of the technology is a good way to go.” He further advised that law students focus on , and not on , as “will be a game changer.” Mary K. Young, a partner at Zeughauser Group,said:
“I think that the space was extremely popular for lawyers toward the end of 2017, and then the crash happened, and a lot of lawyers who were working in crypto or went back quietly to whatever they were doing before, like Silicon Valley in the ’90s.”
Young also noted that privacy law has grown substantially, with most global and national companies having added capabilities in privacy and data sector in the course of the last five years.
As recently published forecasts , global spending could account for almost $2.9 billion in 2019, which is an 88.7% increase from 2018. The financial sector will purportedly be the leading industry in terms of spending in development this year. Banking, securities, investment services and insurance services are forecasted to invest more than $1.1 billion out of the total global spending.
Additionally, a recent survey conducted by Big Four auditing firm KPMG that most and finance executives do not consider adopting technology. At least 60% of respondents claimed they would like to deploy in their companies to automate some repetitive tasks. Nonetheless, 67% were not using the technology at the time, while the other 27% were not sure whether their company was using it.
Published at Wed, 17 Apr 2019 23:26:37 +0000
