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Cultivate 2019 - Event Summary

Sabina Mujcinovic and Hana Lee • Oct 28, 2019

The catalyst to innovation is the ability to change your strategy.

Forty Four Degrees attended Cultivate 2019 where legal professionals gathered to discuss the impact of technology on the legal services market. Below is a summary of the key points discussed.

John Ahern, CEO of InfoTrack, shared his insight into successful innovation. The key to innovation includes three fundamental influential factors - time, innovation opportunities, and bringing people together to share ideas. Respectively, Dr Catherine Ball, robotics and new technology advocate, contended that in order to be innovative in the legal industry, it is vital that we embrace the inevitable technological advances that surround us.

More often than not, legal professionals and clients alike face challenges with using and implementing emerging technology in the workplace. This is largely influenced by the lack of knowledge of such technology as well as the potential fear of change. We must not however, avoid attaining such knowledge and skills, as they are necessary to integrate and utilise the technologies in our workplace.

INNOVATION KILLER =

LACK OF KNOWLEDGE +

FEAR OF CHANGE

The pros and cons of technology advancement

While modern technology provides businesses with increased efficiency, it also upsurges the sophistication of hackers and consequent risks of cyber threats. The exposure of particular sensitive personal data, financial advantages and confidential information to hackers are all significant risks to a business’s success. Being subject to such threats lead to consequential economic costs and reputational damage – all of which we dedicate and commit ourselves to avoid (most of us, anyway).

As such, cyber risk awareness training is a necessity for the legal industry and for our clients, particularly due to the dominance of growing virtual crime. We must be aware of what the cyber-attack risks are, their potential impacts and the steps required to reduce the ability of imminent infiltration to our technology. No organisation is too big, or too small, for attack.

We owe it to ourselves and to our clients to provide a constant assurance that we are adopting streamlined processes when it comes to the protection of personal, highly sensitive data.

Thanks again to the team at Infotrack for delving into this fascinating topic.

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