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When you think about change, does it excite or terrify you? Does your mind go immediately to worst-case scenarios, or do you lean more toward the positive? Are you prepared to endure a white-knuckle ride through uncharted waters, or do you hanker for smooth sailing?
Fortunately, Sam Kidd, co-founder and CEO of tech startup LawVu, has a glass half-full disposition. In the world he inhabits, this is a necessity: after all, it’s one in which more than a staggering 90 percent of businesses fail, with a quarter of those going to the wall within their first 12 months.
LawVu, a dedicated in-house legal workspace provider, has been in operation for a decade, and these days its reach is global. “When I reflect on how far we’ve come in that time and how far the profession has come, I’m filled with immense pride at how much we’ve achieved, and also that we’ve been able to play a big part in the evolution of how corporate legal teams operate,” says Kidd.
He is excited about the opportunities that exist for legal and tech stakeholders across the industry – and about the fact that everyone has a chance to play a part in shaping its future. “The future is not set for us, it is created. It’s created by those who want to change, and by those who want to participate in that change.”
Change is inevitable, Kidd says, and resisting it will just remove you from the conversation. Embracing change is what will get you a seat at the table.
Kidd draws parallels between the seismic changes occurring in technology, which are impacting businesses and industries worldwide, to a 2017 article entitled The Day the Horse Lost its Job, co-authored by Brad Smith, the former GC who is now vice chair and president of Microsoft. The essay is about the technological transition from horse-drawn vehicles to automobiles, which was the catalyst for the dramatic reshaping of cities and economies in the early 20th century.
“We are looking to the horizon and gauging what possibilities exist.”
“It’s hard to imagine what it would have been like to live through that change, but that transition from animals to machines was probably terrifying,” says Kidd. “And while it resulted in the collapse of the equine transport industry, a new one, the automotive industry, was created, which gave rise to a raft of different opportunities.
“What we are experiencing now is not so different. We are looking to the horizon and gauging what possibilities exist. The question is whether you want to continue being the horse – or if you want to become the car.”
For Kidd, the future, and the change that it will bring with it, is not just about the evolution of technology. He says that mindset and attitude are key components as well, both integral to the success or otherwise of legal teams in navigating the changes – particularly when it comes to the hottest topic of the moment, AI.
Kidd likens the utilization of AI to taking out a gym membership – the purchase is the easiest and most painless part of the process.What follows is hard work. Attending the gym means adapting your usual routine to make time to show up, and it takes weeks of learning how to use the machines, let alone enduring the pain that comes with putting those unused muscles to work. Eventually, though, you break through. The pain lessens, the exercises become easier, and you are on your way to getting fitter and faster.
“It’s the process of slowing down to speed up which is the hardest part of change,” he says. “Whether it’s joining a gym or implementing new technology, it’s the fear of slowing down, having to hit pause for even a short time, which frightens people and the organizations they work for most.”
We are, Kidd states, on the cusp of a new industrial revolution, and no matter your mindset or your attitude, technological advancements will happen regardless. “Change is both exciting and terrifying because it means stepping out of your comfort zone. As far as the legal industry is concerned, while outcomes will still be the same as they always have been, AI will remove the need for us to perform some of the individual tasks that we are all familiar and comfortable with.”
For the doubters, Kidd suggests considering the future of in-house legal in much the same way as when the horse transport industry died off: the outcomes didn’t change. For example, where horses were once used to haul equipment to fight fires, engines became the carrier of choice. The outcome – the fire being extinguished – remained the same.
For in-house legal personnel, the future of the profession is theirs to determine. But, ultimately, the decision-makers will be those who choose to embrace the technological changes, including the adoption of AI, that are already underway.
“We are part of what the future is going to look like, and right now it’s about going on that journey, having the right mindset and being involved in change,” says Kidd.
To watch the full recording of Sam’s session at InView Sydney 2024, click here.
