My Notes of the Singapore TechLawFest 2024

I attended some discussions and showcases in the Singapore TechLawFest 2024. Here are my notes.

GenAI can automate many tasks and complete up to 50% to 70% of the work. Human is still needed to complete the remaining.

A law firm in the Philippines shared that a 2.5-hour drafting by junior lawyer can be completed by their AI solution in less than a minute.

Partners and senior lawyers are still safe — to review and sign-off on generated documents — but junior lawyers may be most impacted

For law firms that charge by hours, efficiency improvement by AI enable them to serve more cases resulting in more revenue

GenAI can play an important role in Legal Business Processing Outsouring (LBP0)

A big firm in US, after their TechLaw transformation, reduced their inhouse lawyers headcount from 1000+ to 700+

Many companies in US reduces hiring of junior lawyers

Mindful Business Singapore, shared by lawyer Danny Quah, promotes better work-life balance, respecting rest time, smart meetings. Cooperate with with Temasek to set clear expectation e.g. explicit expectation of done by Friday of the following week instead of letting presumed next Monday.

Not everyone taking video was admiring the speaker. The video was attached to a text message with the “pretentious” label.

Efficiency brought by AI don’t affect small law first the same way it affects big ones. Small law firms can’t usually charge by time. They will benefit greatly from GenAi and advance in TechLaw

Currently, many lawyers leave due to pre-matured burnout (e.g. less than 2–3 years). Tech improve health, work-life balance, productivity, reduce churns.