Welcome Address at the Cloud Event jointly organised by SCS,SAL,ACCA and SMF
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This document provides a welcome address and overview of cloud computing, artificial intelligence, and legal technology. It contains the following key points: 1. Cloud computing allows for on-demand, scalable computing resources over the internet rather than local hardware. It is transforming businesses through digital transformation. 2. Emerging technologies like artificial intelligence, machine learning, edge computing, and blockchain will further impact how we access and use data and computing power. 3. Legal technology (legaltech) is utilizing these cloud and AI capabilities to make legal services more efficient, accurate, and accessible through applications like predictive analytics, automated document review, chatbots, and smart contracts. Over 50% of law firms now use cloud computing.
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Welcome Address at the Cloud Event jointly organised by SCS,SAL,ACCA and SMF
- 1. Welcome Address Reach New Heights with Cloud Computing & AI: LegalTech By Dr. Anton Ravindran 1
- 2. “ I Know this accounting in the cloud is supposed to make things easier, but how do we know which one is ours? ” 2
- 3. Agenda • What is Cloud Computing • Why IT matters • What is the Future • Impact of Cloud Computing & Applications 3
- 4. Copyright© Dr. Anton - GSTF Disruptive Cloud Computing AI/ML Edge Computing Uberism FinTech Globalization Digital Economy LegalTech 4
- 5. Industrial Revolution 4.0 1.0 3.02.0 4.0 Mechanical Electrical Internet Digital Mechanical Production Mass Production Automated Production 0 1 0 1 0 1 1 0 1 0 1 0 0 1 0 1 0 1 5
- 6. Ubiquity Low Market Penetration High Market Penetration NovelCommon Services Products Bespoke Innovation Shift happens………………………………………… Be Prepared for it 6
- 8. Affordable digital infrastructure: Computing $per1MMtransistors $222/MM 1992 2014 $0.04/MM Affordable digital infrastructure: Storage $pergigabyte $569/GB 1992 2014 $0.03/GB Cloud Computing Growth (Billions) $permegabytepersecond 1998 20152005 2010 $1200/Mbps $0.63/Mbps $75/Mbps $5/Mbps 0 100 200 300 400 500 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Affordable digital infrastructure: Bandwith 5 B 8
- 9. Layman Definition “It is about computers and internet to process information” 9
- 10. Business Strategist “It is the disruptive technology that drives the digital transformation of enterprises in todays digital economy “ 10
- 11. IT Specialist “The practice of using a network of remote servers hosted on the Internet to store, manage, and process data, rather than a local server or a personal computer. It is a service based model. These services are broadly divided into three categories: Infrastructure-as-a- Service (IaaS), Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS)…... “ 11
- 12. Cloud Computing matters…… •On Demand Self Service •Multi-tenancy •Rapid Elasticity & Scalability •Measured Service Product -------------------------> Service13
- 14. Learning from the Past …..
- 16. Copyright© Dr. Anton - GSTF 90% 17
- 17. Copyright© Dr. Anton - GSTF Big Data • 90% - Last 2 years • More new data generated in 2018 than prior 5,000 years • FB – 2.3 B • Online – 4.1 B • Walmart generates 2.5 petabytes per hour • Singapore generates several Terabytes of data each day • Data Analysed – 0.5% - Most valuable Source 18
- 19. Edge Computing – Fog Computing 20
- 20. Cloud | Data Centers Fog | Nodes Edge | Devices Thousands Millions 21
- 22. Applications in the Cloud & its Impact 23
- 23. LegalTech •Justice for all ? •Justice for who can afford? •Democratize Law 24
- 24. > 50% of law firms use cloud computing 62% 31% 31% 27% 27% 27% e-discovery Storage Email management Productivity application IP practice software Billing 25
- 25. Legal Tech Fiction or Fact Hype or Reality Blue J DoNotPay COIN SHeW (CJC) • Efficiency • Accuracy • Constant Learning • Augments • Teaming • More with less eLegal Research eDiscovery eDue Diligence eLegal Analytics Legal Chatbots Smart Contracts 26
- 26. Thank you 27
Editor's Notes
- #6: Lowered the barriers
- #8: Above 3 Disappeared with cloud Vision Innovative idea overnight global access Market Disruptor
- #9: So has computing become a utility? Switch on and off to consume No infra expenditure
- #14: Trace back to 1960 – will be delivered same as electricity
- #15: All business activities are somewhere in this curve and moving towards commoditization. The attitude towards IT has been fast involving over the past 3 decades. In some industries faster than the others for various reasons. And within each industry, some business are ahead of the others and have become dependent on IT for competitive advantage. Today to say small business have global reach has become a cliché and this solely because of the advances in IT. More importantly the fact that it has fast become ubiquitous, a utility. The attitude towards IT is fast changing. That also means that there is no more strategic value for common IT. The more IT becomes ubiquitious its value as strategic tool is fast diminishing and begins to become as a cost of doing business. As moves from product to a more services based technology. This has transformed the economy into a service based economy. All organizations have to continue to evolve and adapt to the new developments such as AI and Blockchain in IT by leveraging from IT. Cant avoid change!