Technology Is Driving Change in All Aspects of M&A Practice
This survey is a focused investigation of technology’s impact on Mergers and Acquisitions practice in law firms. In recent years, the legal industry has intensified its focus on the application of technology to the practice of law. The global pandemic, and the increasing reliance on technologies that facilitate remote legal work and collaboration, has further accelerated the interest in technology-based solutions.
The survey includes insights from over 200 lawyers whose practices focus on M&A, in the United States, the United Kingdom, and Canada. The survey covers the technologies they are using; their technology investment plans; the staffing and talent retention implications of technology adoption; and their view of the future of technology in M&A practice, particularly regarding the impact of machine learning technologies.
Inside, you will discover insights specific to M&A practice, including:
- 7 of the 15 M&A technologies in the study are used by at least 50% of the lawyers surveyed;
- Artificial Intelligence (AI) technologies are becoming ubiquitous—80% of M&A lawyers believe that AI technologies are “very important” or “important” in due diligence work today;
- Technology is reshaping M&A teams, with new positions, new skill sets, and new expectations for legal careers, with pricing and budgeting manager positions being the top investment; and
- 91% of M&A teams are using technology as a differentiator and competitive advantage, meaning that M&A teams recognize that technology enables more client-centric service delivery.