EY Study Examines the Evolution of the Legal Function

Legal departments are facing various challenges, including increasing workloads and regulatory demands; tight budgets; competition for talent; and the need to adapt to evolving technology. EY recently surveyed more than a thousand legal professionals from around the globe to find out how they and their organizations are addressing a potentially “seismic operational shift” in the delivery of legal services. This article presents the key takeaways from EY’s survey report, as well as commentary from EY global law leader Cornelius Grossmann. See “How Fund Managers Can Use Technology to Transform and Streamline Complex Legal Operations: One Manager’s Example” (Nov. 5, 2019). For coverage of an earlier EY survey, see “Investors Cooling to Hedge Funds; ‘Seismic Shifts’ in Tech Capabilities; and Convergence Across Hedge Fund and Private Equity Products (Part One of Two)” (Nov. 29, 2018).

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