Smart data, the Internet of Things and Industry 4.0 all demonstrate how digital transformation has brought far-reaching changes to the global economy. These changes are now part of everyday corporate life and affect almost every industry. Companies are increasingly seeing digital transformation as an opportunity and reinventing their processes for the digital age.
The challenges of digital transformation
There are, however, still many unresolved issues around legally defensible implementation of digitisation strategies. Innovative business models and the use of new technologies confront companies with completely novel legal challenges. Digital transformation impacts data protection, IT security, contract design, liability and regulation. Accordingly, interdisciplinary collaboration is now more important than ever. You may find further information in our joint study "Digital Economy and Law" with the Bundesverband der Unternehmensjuristen (BUJ).
A new approach to legal advice – CMS and legal tech
Digital transformation is also changing the way legal advice is delivered. Legal tech – the application of modern technology – opens up a range of new possibilities, from project management to the use of semi-automated legal services.
Below we present key issues around the digital economy, their legal implications and how CMS can assist you in addressing the challenges posed by digital transformation.