Team size: Five

How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience? 

In recent years, the role of general counsel has changed radically, acquiring more relevance and influence within companies, based on the matters in which they are involved, which are no longer only legal, such as risks, compliance and sustainability, among others. Also, because they have been gaining an important space as a strategic ally of businesses, which has allowed them to acquire a deeper knowledge of the industry, its risks, opportunities and challenges. Likewise, in an increasingly changing and challenging economic and regulatory context, the role of the general counsel is key to anticipate and visualise the possible impacts for the company on its business, risks and reputation. All this has allowed them to move up the pyramid of the perception of the value they add within the organisation, managing to gain a relevant space in the strategic planning of the business and in the board of directors, which allows them to influence the decision-making process at the strategic level. Therefore, in periods of instability or crisis, their leadership and early involvement in the strategy to face crises from a global and comprehensive perspective is key, in order to identify all the legal impacts that it may have with their stakeholders in different areas, such as reputational, contractual and regulatory, among others. The strategy and management of a crisis must be coherent and aligned in three key pieces: the business, communication and the legal framework in which it is developed. The pandemic was clearly an unforeseen crisis that generated a lot of insecurity and uncertainty for companies, forcing them to adopt a series of quick decisions, often without absolute certainties, forcing legal managers to innovate, be creative, prioritise and manage the risks of many decisions, always trying to minimise the impacts inside and outside the organisation.

What emerging technologies do you see as having the most significant impact on the legal profession in the near future, and how do you stay updated on these developments? 

The emerging technologies that have had the most significant impact on the legal profession are automation, blockchain technology, and predictive analytics. Automation has been a key trend in legal tech, and by 2024, artificial intelligence (AI) will be further integrated into contract management. Blockchain technology has also been gaining traction in the legal arena, and self-executing contracts based on this technology are expected to become more common. Predictive analytics will also become a valuable tool in contract management, as it will use historical data and patterns to predict potential contract issues, assess risks, and offer informed recommendations. This will allow companies to make strategic and proactive decisions instead of reacting to problems once they have arisen. One of these platforms is precisely iManage, which combines artificial intelligence, security and risk mitigation for document and email management. EY Global GCO implemented this platform globally, and we are implementing and training GCO teams regionally and locally.