P2P

Spring2021

Peer to Peer: ILTA's Quarterly Magazine

Issue link: https://epubs.iltanet.org/i/1356436

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57 I L T A N E T . O R G emerging business systems, from CLM, to property portfolio management tools, to HR tech offerings for employees, to obligation management or supply chain tools. Ultimately, making knowledge work will result in the evolution of supporting functions to tune and drive the systems, giving rise to multi-function teams of knowledge workers, data scientists, knowledge curators, and engineers, as well as the "whole project" team of project managers and process experts. These teams will leverage familiar platforms to create innovative solutions using AI, data, and tools to meet changing demand in their business teams or clients. A Platform Approach is the Smart Approach As AI matures, we see it becoming accessible in existing software platforms and to new communities, like regional law firms and mid-size legal departments through pre- packaged search and discovery apps like: • Best practice deal search apps to surface similar transactions based on closing book analysis and extracted knowledge • Expert search apps to mine the interactions between users and knowledge and identify hidden expertise • Clause search apps to surface best practice clauses automatically based on type of agreement being drafted • Contract intelligence apps to extract key contract terms and obligations from common document types to facilitate tracking and follow up For mid-size and regional firms, these systems will enable the use of packaged third-party information providers, knowledge, and knowhow. These organizations will also benefit from user-friendly, quick workflows to save knowledge, making it more discoverable than on the metaphorical shared drive. A Brighter Future for Knowledge Work Organizations are under pressure to make their knowledge work harder for them. As they endeavor to modernize and prepare for the future of work, they have their work cut out. Our research within the knowledge work community found that 95% of respondents somewhat or completely agree that optimizing the resources, processes, and tools they use to support knowledge work will be key to helping their organization reach its goals. By making AI specific and effective at generating meaningful business outcomes in different areas of the business, AI will become a significant contributor to knowledge work automation and success. Maturing platforms – backed by ecosystems of innovation – will turbocharge what is possible using the cloud for scale and agility. We see a brighter future in which knowledge is better mobilized to solve problems and generate differentiated business outcomes. In other words, we see knowledge transforming from a noun into a verb. That's the way to make knowledge work. ILTA Dan Carmel is Chief Product Officer at iManage. Returning to iManage in 2011 after a stint as CEO of SpringCM, a leader in SaaS ECM, Dan is responsible for product strategy and integration.

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