#45 - Mary's Thoughts on CLOC Global Institute '24
May 24, 2024
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Mary, solo host, shares insights from CLOC Global Institute 2024. She discusses the evolving role of AI in legal operations, market dynamics of CLM systems, global legal ops trends, and strategic planning. Mary delves into challenges in legal operations roles, navigating the evolving legal industry, and embracing innovation.
CLOC Global Institute '24 showcased a diverse legal ops community and increasing demand, highlighting market growth trends.
AI integration in legal operations is still in early stages, emphasizing patience and exploration for impactful applications.
Deep dives
Reflections on CGI 2024
The host reflects on Clark's Global Institute 2024 (CGI), highlighting the changes observed compared to previous years. The event boasted a balanced mix of legal ops attendees and vendors, drawing individuals from various countries worldwide. Despite some concerns about roles being eliminated, the demand for legal ops continues to rise significantly. The shift to ARIA as the venue brought a more relaxed and spacious atmosphere, fostering networking and health-conscious activities among attendees.
AI Trends in Legal Ops
The discussion touches on the progress of AI implementation within legal operations. While AI-focused providers were present at the event, there was a sense of ongoing exploration and experimentation rather than a definitive direction. Sessions emphasized the early stages of AI integration and the need for patience as the industry navigates through various use cases and technologies. The evolving landscape highlights the anticipation for impactful AI applications in the legal sector.
Challenges and Evolution of CLMs
The conversation delves into the abundance of Contracts Lifecycle Management (CLM) solutions and the challenges posed by their similarities. Suggestions of industry consolidation were supported by developments like DocuSign's acquisition of Lexion. The need for differentiation and survival strategies among CLMs was underscored, pointing towards potential mergers and acquisitions in the sector. The evolving CLM landscape calls for adaptability and innovation to meet changing market demands.
Special Bonus Episode! Mary goes solo to share her thoughts following CLOC Global Institute (CGI) 2024, answering your burning questions in a special AMA format. Questions:
What felt different to you about this year’s CGI?
What are your thoughts on where we are with AI?
How can there be so many CLMs?
Can you recap what you said in your speaking sessions?
What comes next?
Mary dives into the unique aspects of this year's event, the evolving role of AI in legal operations, and the market dynamics surrounding Contract Lifecycle Management (CLM) systems. She also recaps her speaking sessions on global legal ops trends and strategic planning, offering insights on the future direction of the field. Stay Connected: