Legal Management
term, with an estimated 95 per
cent of law firms’ interactions with
clients expected to involve AI by
the year 2025. The increased use
of AI is an evident trend across
the region amid a shift, across
all sectors, towards the greater
use of digital tools to facilitate
day-to-day business, such as
data management and cloud
computing. However, there is
still a certain degree of scepticism
among law firms and clients,
attendees heard.
One concern is that, given
AI’s ability to reduce the time
spent scanning and preparing
documents, and the subsequent
cut in costs, the lawyer-client
relationship could be become
less personal and negatively
affected as a result. Consequently,
technology must be seen as a
tool for improving processes but
not as a replacement for human
communication, participants
argued.
The speakers at
The Latin American
Lawyer event in
Miami (entitled ‘How
can general counsel
leverage technology
throughout the M&A
and transactions
lifecycle?’)
were as follows:
Arturo Pérez-
Estrada
Partner, Greenberg
Traurig
www.thelatinamericanlawyer.com
Younger lawyers demanding
change
In addition to the reluctance
among some law firms to embrace
new technology, its take-up has
also been hindered by some law
schools’ failure to teach new
technology to students. This
is despite the fact that it is the
younger generation of lawyers
that is demanding change, and
specifically automation, to
accelerate and simplify what can
be tedious processes, panellists
heard. At the same time, law firms
need to be continually providing
training to their staff on the new
tools that are becoming available.
In addition, it is also widely
accepted that firms and companies
that embrace new technology are
more attractive to young talent
and more likely to be viewed as
potential employers.
Panellists generally agreed
that we are currently living in
a new age of technology that
Hernán
Pacheco
Partner, EY
Centroamerica
Manuel Pliego
Government affairs,
Microsoft Mexico
Jimena
González de
Cossio
is bringing a plethora of new
opportunities to law firms, but
capitalising on such opportunities
requires constant and diligent
risk management. Meanwhile,
amid the risk of interpersonal
relationships between lawyers
and clients being put in jeopardy
by the use of AI, the use of
such technology can actually
lead to the creation of a more
collaborative framework among
lawyers themselves, as well as
their clients.
Furthermore, despite initial
scepticism on the part of
some law firms, confidence in
technology is, on the whole,
increasing, and its potential
to change processes, and even
professions, should be seen
as a positive step towards
streamlining processes and
providing a helping hand to
lawyers during the often complex
processes involved in M&A
transactions.
Víctor Manuel
Frías
Partner, Greenberg
Partner, EY Mexico Traurig
Cristian
Fernández Luis Alberto
Cárdenas Díaz
Corporate lawyer,
Microsoft México
Head of corporate
& commercial legal
affairs Banco Sabadell
December 2018 • THE LATIN AMERICAN LAWYER • 17