By Chris Loaring, Managing Director at Legal Futures’ Associate Landmark Legal
“It is an exciting time for the UK conveyancing industry, with all stakeholders identifying and driving towards a progressive and technology-led future. The recent Council for Licensed Conveyancers (CLC) Discussion Paper: Conveyancing 2030 is recent evidence of the frequent projections around the advent of technology into the sector.
Nobody is more excited about this future than Landmark Legal, one of the founders of the recently established Conveyancing Information Executive (CIE). We have been at the forefront of industry change for over two decades and have identified the key phase the conveyancing industry is entering, as we move into the early 2020s.
Our excitement is matched only by our belief that the importance of data in a new digital first world is paramount. The very data foundation that any progressive technological advancement is built upon (be it machine learning or blockchain), is the defining factor for our collective success. The market trends of digitisation, AI and open source data are set to increase their footprint across our industry and continue to power a technology centric view of progress.
Given the very fact that most technology-led enhancements are only as effective as the data they learn and report from, our view of progress must also consider the critical role of data and its advancement. Only when the data baseline is complete, validated, robust and integral can we carry the belief that the future is as bright and achievable as we all project.
In a digital first and technology led sector the visibility of the data baseline will become secondary, with the advent of case management systems powered by underlying data API’s becoming the norm. This transition places even greater emphasis on the quality, veracity and source of the underlying data, as in this new operating model the customer or consumer simply won’t see it.
We are driven by our passion for leading change in our industry, and now is the time we feel a focus is needed on bringing together the world leading data institutes across the UK to help inform and shape our transition from the current status quo in the conveyancing industry towards the new technology led future we all visualise.
As a member of the newly-formed Conveyancing Information Executive (CIE) trade body, our mission is to work alongside all relevant industry stakeholders to power the great advancements possible in the UK conveyancing industry over the coming years, by supplementing all technological enhancements with the best possible data baseline standards.”
For more information, please visit www.conveyinfoexec.com where you can register interest in learning more about or joining the CIE. Alternatively, for more details regarding Landmark Information visit www.landmark.co.uk/landmark-legal.