Blurred Lines ILTA Insight Conference 2013 - November 14th 2013 London Rohit Talwar - CEO Fast Future Research
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Blurred Lines ILTA Insight Conference 2013 November 14th 2013 London Rohit Talwar - CEO Fast Future Research www.fastfuture.com rohit@fastfuture.com Twitter @fastfuture
What we do Foresight Research Helping you explore and understand forces and ideas shaping the future Consulting Enabling you to respond to and create future change Speaking and Moderating Inspiring insights into a changing world and how others are responding Event Design and Facilitation Bringing the future to life and helping develop an action agenda
Objectives of ILTA Legal Technology Future Horizons Project • Identify key business, legal and IT trends and developments • Build timeline of emerging technologies and IT developments with high potential legal impact • Explore IT’s transformative role in future legal business models and service differentiation • Highlight strategic imperatives for effective use and management of legal IT • Conducted January – November 2013 • Publication – January 2014 • 6 Sponsors • Combined desk research, interviews with managing partners, CIO’s, vendors, futurists and technologists, global surveys on the business applications of IT (499 responses) and emerging technologies (223 responses) • Key findings are presented on the following pages including the highest ranked responses in the surveys
‘Future Proofed’ Organisations Work on 3 Horizons in Parallel 1-12 Months 1-3 Years 4-10+ Years Operational Drive for Creating the Excellence Innovation Future Efficiency, Growth
‘Magic’ and Science are Blurring Mapping and Uploading the Human Brain Cognitive, Genetic, Physical and Electronic Enhancement of the Human Body
‘Big Science’ is the Battleground
10 Emerging Challenges – Embedding IT in the DNA of Tomorrow’s Law Firm
Globalization as a Universal Business Challenge
Rise of Emerging Markets Driving Greater Reliance on IT (60%) and Increased Competition for Global clients (56%)
Uncertainty and Efficiency as Sector Disruptors
Strategic Wisdom and Insight as a Differentiator 60% Depth of Client Knowledge and Insight
Redefining Risk – Client Drivers 67% Security Concerns 57% Shorter / Faster Cycles
Developing Magnetism - Client Acquisition and Retention 67% Service Quality a Key Differentiator 58% Alternative Fee Arrangements a Disruptor
Disruptive New Entrants 77% IT Firms Offering Direct Delivery 58% New Entrants = Biggest Source of Disruption
Transformation of Education 51% Law schools will increasingly provide legal services to differentiate themselves and generate income
Unleashing Technology 73% 88% Capacity for Rapid IT- Emerging Tech Enabled Innovation: Integral to Courts Critical Differentiator
Our Technologies are Evolving From Desktop to Mobile ...
...to Wearable...
...to Embedded...
... to Grown and Grafted...
…and totally Connected via ‘The Internet of Everything’ “What happens when the smartest thing in the room is the room itself?” Madeleine Albright
Artificial Intelligence is Going Mainstream 88% AI advisers / helper apps will structure legal documents and check content generated by lawyers Speech / gesture / image recognition, integrated analytics, knowledge management, image / video / voice mining, client self-service, intelligent documents, expertise systems, collaboration, secure email, virtual assistants, intelligent agents and collective intelligence
Technology Timeline (0-12 Months)
Technology Timeline (2-5 Years)
Technology Timeline (6-10 Years)
Technology Timeline (10+ Years)
Repositioning IT Management 68% 64% Balancing Aligning IT to Security / Mobility Business Need
Turning Insight into Opportunity Markets Mastery Muscle Magic Message Models Mindset Management
Markets – Do we Understand Future Business Drivers? Leverage Existing Develop New Build Emerging Capabilities Capabilities Market Pipeline Respond to Fast Growth Target Growth Sectors SME Needs
Mastery – Where do we Need to Excel? E.g. Collaboration, Service, Managing Change, Operational Processes, Technology Planning, Foresight and Insight Baker Donelson - Client Access to Workflow
Muscle – What New Survival and Growth Capabilities do we Need? Never trust a robot lawyer – they only know 3 laws Bradford Barthel – Troutman Sanders – AI Case Analysis Emerge Ediscovery
Magic – How to Create ‘Wow Factors’ for Different Customer Types?
Message – How do we Align our Actions with our ‘Brand Story’? Bryan Cave - Innovation Department
Brilliant Law – Transparent ecommerce
Models – Asset Finance, Innovation and Revenue
Mindset – Uncertainty Tolerant, Experimental, Curious, Sticky and Magnetic Allen & Overy – Technology Fair
Management – What Critical Actions can we Take to Drive the Future? Reynolds Porter Chamberlain - Edge
Which are we Pursuing? Markets Mastery Muscle Magic Message Models Mindset Management
Conclusions – 21st Century Survival Skills • Foresight / Curiosity • Sense making • Accelerated learning • Uncertainty tolerant • Scenario thinking • Embrace complexity • Networking • IT Innovation
Useful Reference Sources • Genetic profiling - https://www.23andme.com/ • X Prize - Breakthrough innovation projects - http://www.xprize.org/ • Google brain uploading - http://digitaljournal.com/article/352787 • Brain mapping projects - http://www.technologyreview.com/news/513011/why-obamas-brain- mapping-project-matters/ • Global Future 2045 (immortality) http://2045.com/ • Human enhancement - http://en.wikipedia.org/wiki/Human_enhancement • Wearable technology – Google Project Glass - http://www.google.com/glass/start/ • Emotiv Epoc Brain-Computer Interface - http://www.emotiv.com/ • AI Essay Grading Software - http://www.nytimes.com/2013/04/05/science/new-test-for- computers-grading-essays-at-college-level.html?pagewanted=all&_r=0 • Crypto currencies – – http://www.abc.net.au/technology/articles/2013/09/25/3855973.htm – http://en.wikipedia.org/wiki/Cryptocurrency – http://en.wikipedia.org/wiki/List_of_cryptocurrencies • Autonomous cars - – http://www.engineering.com/DesignerEdge/DesignerEdgeArticles/ArticleID/6357/Tesla- Working-on-Autonomous-Car.aspx – http://www.popsci.com/cars/article/2013-09/google-self-driving-car
About Fast Future
Fast Future – Core Services • Live Events - Speeches, briefings and workshops for executive management and boards of governments, investment funds, development agencies , companies, airlines, airports, hotels, venues, CVB’s and associations • Future Insights - Customised research on emerging trends, future scenarios, technologies and new markets • Immersion - ‘Deep dives’ on future trends, market developments, emerging issues and technology advances • Strategy - Development of strategies and business plans • Innovation - Creation of business models and innovation plans • Engagement - Consultancy and workshop facilitation
Fast Future • Research, consulting, speaking, leadership • 5-20 year horizon - focus on ideas, developments, people, trends and forces shaping the future • Clients – ING, ABN Amro, Laing O’Rourke – Marks and Spencer – Airports - Aeroports de Paris / Schiphol Group – Vancouver Airport Services – Industry Associations – ICCA, ASAE, PCMA, MPI – Corporates - GE, Nokia, Pepsi, IBM, Intel, Orange, O2, Siemens, Samsung, GSK, SAPE&Y, KPMG, Amadeus, Sabre, Travelport, Travelex, ING, Santander, Barclays, Citibank, DeutscheBank – Governments - Dubai, Finland, Nigeria, Singapore, UK, US – Convention Bureaus – Seoul, Sydney, London, San Francisco, Toronto, Abu Dhabi, Durban, Athens, Slovenia, Copenhagen – Convention Centres – Melbourne, Adelaide, Qatar, QEIICC – Hotels - Accor Group, Preferred, – Intercontinental – PCO’s - Congrex, Kenes
Our Services Bespoke research; Identification & Analysis of Future Trends, Drivers & Shocks Public Speaking, In- Company Briefings, Accelerated Scenario Seminars and Planning, Timelining & Workshops Future Mapping Personal Futuring for Leaders and Leadership Expert Consultations & Teams Futures Think Tanks Identification of Design & Facilitation of Opportunities for Innovation, Incubation Innovation and Strategic & Venturing Strategy Creation & Investment Programmes Development of Implementation Roadmaps
Example Projects • Public and private client research e.g. : – Reinventing the Airport Ecosystem – Development of Market Scenarios, emerging trends and strategies for key clients – Government and OECD Scenario Projects – e.g. Migration 2030, Future of Narcotics, Chemical Sector, Family 2030 – Scenarios for the global economy for 2030 and the implications for migration – Designing Your Future (Published August 2008) – book written for the American Society of Association Executives & The Center for Association Leadership – Global Economies – e.g. The Future of China – the Path to 2020 – The Shape of Jobs to Come – Emerging Science and Technology Sectors and Careers – Winning in India and China – The Future of Human Resources – Exploiting the Future Potential of Social Media in UK Small to Medium Enterprises – Convention 2020 – the Future of Business Events – Future Convention Cities Initiative – Maximising Long-term Economic Impact of Events – One Step Beyond – Future trends and challenges for the events industry – Hotels 2020: Beyond Segmentation – Future Hotel Strategies – The Future of Travel and Tourism in the Middle East – a Vision to 2020 – Future of Travel and Tourism Investment in Saudi Arabia
Hotels 2020 – Objectives • Identify key drivers of change for the globally branded hotel sector over the next decade • Examine the implications for: Hotel strategy Brand portfolio Business models Customer targeting Innovation
Rohit Talwar • Global futurist and founder of Fast Future Research. • Award winning speaker on future insights and strategic innovation – addressing leadership audiences in 40 countries on 5 continents • Author of Designing Your Future • Profiled by UK’s Independent Newspaper as one of the Top 10 Global Future Thinkers • Led futures research, scenario planning and strategic consultancy projects for clients in telecommunications, technology, pharmaceuticals, banking, travel and tourism, environment, food and government sectors • Clients include 3M, BBC, BT, BAe, Bayer, Chloride, DTC De Beers, DHL, EADS, Electrolux, E&Y, GE, Hoover, Hyundai, IBM, ING, Intel, KPMG, M&S, Nakheel, Nokia, Nomura, Novartis, OECD, Orange, Panasonic, Pfizer, PwC, Samsung, Shell, Siemens, Symbian, Yell , numerous international associations and governments agencies in the US, UK, Finland, Dubai, Nigeria, Saudi Arabia and Singapore. • To receive Fast Future’s newsletters please email rohit@fastfuture.com
Designing Your Future Key Trends, Challenges and Choices • 50 key trends • 100 emerging trends • 10 major patterns of change • Key challenges and choices for leaders • Strategic decision making framework • Scenarios for 2012 • Key futures tools and techniques • Published August 2008 • Price £49.95 / €54.95/ $69.95 • Email invoice request to rohit@fastfuture.com
Image Sources
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