M&A Lawyers in the UK Have Big Plans for Technology Investment and Adoption
Globally, the legal industry has intensified its focus on the application of technology to the business and practice of law, and M&A is no exception.
Litera's 2023 UK M&A survey is a focused investigation of technology’s impact through the insights of practicing lawyers. The survey covers the transaction workflow technologies they are using; their technology investment plans, including around artificial intelligence (AI); 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.
Litera's 2023 UK M&A survey is a focused investigation of technology’s impact through the insights of practicing lawyers. The survey covers the transaction workflow technologies they are using; their technology investment plans, including around artificial intelligence (AI); 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:
- The phases of M&A work that AI technologies are reaching—91% of those surveyed stated that the usage of AI will either increase or significantly increase in importance in the future;
- 83% strongly agreed or agreed that AI is becoming a standard part of most M&A due diligence processes;
- 64% expect to see an increase in their tech spending over the next year; and
- How roles within law firms are changing to expand the use of relevant technologies.