The use of AI is rising rapidly, with the legal industry recognised as one being particularly impacted.

AI has the power to transform both the practice of law, as well as the business of law.

Harnessing the power of legal technology can enhance the way in-house legal teams deliver legal services and optimize business processes.

Applying well-developed reference data principles to legal data is crucial for firms to unlock value from their data for business, regulatory and operational purposes.

Through embracing the business value of legal agreement data, in-house legal departments can become enablers of business optimization and legal change.

Smart contracts offer compelling benefits - from streamlining to automation of the contracting process - they have the potential to improve efficiency, reduce client costs and legal risk.

More than incurring regulatory penalties, those who ignore data protection lose out on market trust and potential for growth from having clean data and a clear understanding of their processing activities.