Vaibhav Parikh, Partner, Nishith Desai Associate on Tech, M&A, and Ease of Doing Business
Vaibhav Parikh, Partner, Nishith Desai Associates highlights the deployment of tech in legal practice has been incremental, and not transformative. He added that incorporating AI would cause a transformative change in the legal industry.
The changes are set to affect the business model under which lawyers will be able to provide complex legal advice in the shortest time possible.
He argues that the role of an AI will not be limited to drafting only but will also include negotiating, which will limit the role of lawyers as automation is deployed for legal practice.
On M&A, he says there can be a large number of M&A both from the perspective of distress and expansion. He argues that 2025 is set to be a watershed event from an M&A perspective considering contemporary development in tech, and geo-politics.
He suggests simplification of tax laws, to bring clarity for ensuring ease of doing business in India. The ETLegalWorld's event on "AI-Powered Legal Solutions: The Next Frontier," was in association with Microsoft, aimed at uncovering the transformative role of AI in the legal sector.
