Change is coming …fast
There are “three big technologies shifting and colliding and the impact of these shifts will be felt across industry, beyond borders and into the lives of all of us.
The Internet of Things is a term for the connectivity of devices. Big data is the mining of behavior so we can build profiles on what people do and at some level predict what they want to do next. The third big technology coming our way is Artificial intelligence.” (Matt Church, Thought Leaders ‘Talking point’)
As IACCM’s imminent report on The Future of Contract & Commercial Management will reveal, these disciplines are in no sense immune from these powerful technological forces. They fundamentally alter the context within which we are working. Our world is pushing hard for simplification (and 83% of users consider the contracting process is complex); it is demanding user-centered design (and 88% find contracts hard to understand); and it expects an ability to demonstrate value (most contracts and legal groups lack data or evidence).
Connectivity, data mining and analysis are transformational not only in how we form and communicate contracts, but also in the value they can generate within the business and beyond. This is not just about doing our work faster or with less people. It is about seeing the purpose and structure of contracts in a completely new way.
If you want to know more, sign up for your copy of the Future of Contract & Commercial Management!