vALTACON 2020

Written by Christine Bulos, TLF Connect Mentee and Final Year Law Student at La Trobe University

The legal technology landscape within Australian is growing exponentially, with sole practitioners, as well as a wide range of law firms, utilising and implementing alternative legal technology methods and processes within the workplace. The global pandemic has placed a heavy emphasis on the requirement to upkeep efficiency levels within the workplace and forced many to pivot towards innovative legal technologies to essentially assist in getting work done.  

The Australian Legal Technology Association presented their annual legal tech conference late last week on Thursday 28th May and Friday 29th May, whereby viewers were able to tune in and engage with professionals within the industry. The two-day virtual conference was absolutely filled with useful content and learning resources and although held digitally, still allowed for great engagement and a great user experience. 

As an aspiring lawyer, it was amazing to be able to further my knowledge within the legal tech landscape and learn more about what underpins the industry and the future of what’s to come. There is no doubt that the market for legal tech is growing, both within Australia, but also globally, whereby it is estimated that there is in fact a $8 billion-dollar global market out there for such services. At the expo, we heard from a wide range of highly experienced speakers with knowledge in vast areas ranging from start-ups, legal design, legal tech, privacy, legal operations, business continuity and more. The expo was also highly organised in its structure with three different streams available to listen in and learn from, including; the ‘Law Firm Stream,’ ‘In House Counsel Stream,’ and the ‘Legal + Tech Stream.’ vALTACON also provided for a ‘Legal Tech Expo' stream which allowed viewers to directly communicate with exhibitors presenting on the day. The virtual nature of the conference allowed for individuals from all across the world to present their viewpoints and engage on a wider scale. We were able to hear from leading entrepreneurs, legal technologists and innovators about the growth of legal tech and how its usage has moved from a part-time role to more of a strategic imperative. Legal technology essentially enables innovation with Peter Maloney, director and CEO at GlobalX, himself stating that, “Innovation is at the heart of a successful firm.”

The conference explored how law firms are adapting and leveraging legal tech in the current environment and emphasised particularly on the requirement to have a digital strategy in order to provide adaptability and agility to the firm. The findings of the recent GlobalX report discussed at vALTACON also found that the usage of technology contributed to a 75% increase in firm productivity, highlighting the important benefits of technology in saving time. 

Legal tech should not be seen as a discretionary spend, but rather a necessity that ultimately improves systems, processes and overall productivity. 

It was also particularly interesting to listen in on a panel discussion regarding ’The pillars of startup success.’ The speakers discussed in thorough detail the steps required to identify a problem, analyse the market, the type of research required, as well as the ultimate solution found. Pricing models were analysed, tips on success were provided and a discussion on the importance of having a diverse range of skills within your start-up team was also emphasised. It was inspiring to hear the experiences and journeys of these esteemed individuals, which in turn further fuelled my interest in start-ups and the implementation of legal tech. 

All in all, vALTACON was one of the best online conferences I have attended thus far, and trust me, during this pandemic I have attended many! The highly organised structure of the expo, the wide range of esteemed speakers, the vast topics covered and the direct liaison provided, ultimately made vALTACON one of the best legal tech conferences available. 

The legal industry is without a doubt going through a period of change and transformation, and all individuals within the legal sector should take note and be aware of the changes happening around us. What better way to educate oneself with the changes of the industry than attending such a conference.