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For almost 60 years, IP professionals from around the world have been flocking to the World Intellectual Property Organization's (WIPO) annual assemblies. Against the backdrop of this proud history, this year there was a distinctly forward-looking and future-proofing flavor to the proceedings. Opening the event (which ran from September 30 to October 9), WIPO Director General Francis Gurry told delegates that "record demand for IP rights, driven by rapid technological changes, has created increased challenges for the administration of IP in the global economy." He went on to point out that for the IP industry, technology can also provide the solution, and that "new tools were needed to assist."

WIPO has absolutely hit the nail on the head. The transformative power of technology is a game-changer in almost all industry sectors, not least including IP. The pressure is on to adapt—and fast.

The reality is that, although intellectual property is built on creative, novel ideas and ground-breaking inventions, the IP industry that serves those innovative pioneers has been relatively slow to keep up. The traditional analogue approach simply won't cut it any longer in a digital age. Technologies that can simultaneously reduce risk and increase efficiency in the process must now come to the fore.

The Case for Automation and AI

At the heart of this lies the potential for automation to churn through routine processes on one hand, and for artificial intelligence (AI) to tackle more sophisticated requirements on the other.

Automation and AI, or at the least machine learning, are already changing the way legal businesses operate, enabling them to maintain profitability in a climate where clients expect law firms to do more with less. Together, they mean lawyers can spend less time on mundane activities like billing, document drafting or research and focus on value-adding advisory work and strategic thinking, making them more productive and more (cost) effective for clients. There's no reason why the same shouldn't happen in IP: In fact, it should be leading the way.

Automation has many benefits. Administrative tasks such as patent filing, docketing and renewals will not only be quicker, they will be more accurate too, [eliminating/reducing] the risk of basic human error or serious IP mismanagement. Given the complexity of patent families, for example, often involving multiple versions of data packets with no central version of truth, manual data entry is fraught with potential pitfalls. Mistakes can cost dear, from the loss of valuable IP rights to increased potential for expensive and time-consuming disputes and litigation. The importance of precision cannot be underestimated.

Seemingly simple things like automated alerts about competitor activity or macro market trends could create significant competitive advantage by enabling law firms and their clients to move quickly. Plus, just having all of the relevant information provided in one easy-to-read digital interface will enhance the whole user experience, increasing visibility and leading to better outcomes.

AI is the other side of the coin. It can do things that complement human capabilities, by providing an accurate and resource intensive mechanism for trawling and analyzing vast volumes of disparate data to spot hidden trends, identify gaps in the market or reveal new areas for potential innovation in which to accelerate R&D. It gives people a higher level of insight to enable them to do their jobs well and make better decisions—and machine learning means that this process should become more and more incisive over time.

When IP data from multiple jurisdictions around the world is aligned and accessible through a single platform (a future which is very much becoming a reality, fast), AI will be well placed to take maximum advantage, giving human inventors and their advisers easy access to the all information they need. As Francis Gurry put it, "Artificial Intelligence is coming to our rescue."

The Implications for Legal Strategy

The potential cost of being left behind in the global shift towards digitization has been highlighted by many, including in a recent report by a UK Parliament Select Committee. Last month, the Business, Energy and Industrial Strategy (BEIS) Committee urged the British government to step up efforts to support the transition to new technologies such as automation and AI. It warned that slow progress to date has "allowed other countries to steal a march in leading the Fourth Industrial Revolution and seizing upon the opportunities for economic growth and jobs." Clearly that is a place no policy-maker, industry sector or business anywhere in the world wants to be.

With all of this change, legal strategies will have to change too. The rationale for continuing with the traditional model in which IP management has been reactive and defensive, often founded on protecting IP through litigation, may make less sense in this new environment. For one thing, the advent of blockchain creating unalterable, fully traceable records of IP may mean a reduction in disputes.

At the same time, the growing wealth of "big data", mined by AI, creates increased scope for licensing opportunities as more intelligence is gathered and analysed. Offensive strategies in which IP is strategically managed and proactively optimized will take centre stage and lawyers need to be ready to take full advantage of this new dynamic.

Get Set for Adoption

IP-intensive industries contribute almost 40% of U.S. GDP—around $6 trillion—while supporting 45 million U.S. jobs. Indeed, the world's most valuable company, Apple, is built on intangible assets, with the majority of its value coming from its brand, designs and software. It's clear that creators, inventors and rights owners urgently need an IP system that meets modern needs. This means its digital transformation is only a matter of time, and is why CPA Global in its New IP campaign has called for the 2020's to be the decade of digital for the international IP industry.

As WIPO delegates return home from Geneva, let's hope the conversation continues and that further developments in adapting the system so that it remains fit for purpose in today's digital world are prioritized. Boardrooms are increasingly recognizing that IP is a strategic asset—even a profit center—and they expect it to deliver maximum value in today's highly competitive markets. Technology is key to making this happen. Governments worldwide are clearly pushing for greater digital investment and integration for economic advantage. The race is on.

Lawyers who are early adopters of digital tools themselves and who are prepared to take a new approach that focuses on monetization of assets as well as protection will be in the best position to take advantage of demand for next-generation IP advice. Being on the front foot could be the differentiator that enables firms to win and build stronger relationships with clients.

As CPA Global's Chief Strategy Officer and a qualified patent attorney, Toni Nijm drives the company's strategy to deliver greater connectivity and integration of its software and services. Previously, Toni co-founded and was CEO for Ipendo, the Sweden-based IP management software and service provider that CPA Global acquired in 2011.