Technology
Futurologist: AI-based future “means opportunities for lawyers”
Technology is transforming the world at a furious pace and artificial intelligence (AI) and the legal frameworks that will emerge from it and similar developments, offer “massive opportunities” for lawyers, according to a leading futurologist.
Retired solicitor investor network poised to help lawtech start-ups
An ‘angel investor’ network is being constructed that promises to match ex-City partners with lawtech start-ups, to help them gain a foothold in large law firms with advice, contacts, and seed capital. The favoured model would see two investors each invest £50,000 in exchange for around 10% of the equity
Susskind urges restraint and piloting over fears that Online Court is “too ambitious”
An online court should be introduced slowly and modestly rather than as ‘big bang’, according to one of the original architects of the dispute resolution model from which Lord Justice Briggs drew when devising his Civil Court Structure Review.
Groundbreaking digital contracts business has “layers of security” to defeat hackers
The tech company that facilitated what it claims is the world’s first smart contract supported by the Internet of Things – internet-enabled devices – has told Legal Futures that its product has layers of security amid fears that the increasingly commonplace technology is vulnerable to hackers.
Lawyers and firms flock to app that cuts out legal recruiters
A ‘disruptive’ legal recruitment app backed by investment from a commercial law firm has signed up thousands of lawyers and dozens of law firms in its first five months, and has just launched in Australia too. It aims to connect legal employers and lawyers without the need for middlemen.
The big law firm of the future – AI, digital robots and blockchain
Big law firms will be using predictive analytics and artificial intelligence not only to predict where growth in services will be, but also which clients and cases are worth pursuing, according to PwC’s vision of the law firm of the future that also foresaw digital robots taking over “routine and standard human transactions”.
The robot judge – AI predicts outcome of European court cases
Artificial intelligence has been used to predict decisions of the European Court of Human Rights to 79% accuracy. Researchers at University College London, the University of Sheffield and the University of Pennsylvania developed the method to analyse case text automatically using a machine learning algorithm.
Tech investors deterred because of “relatively small” global legal market
The global legal market is small by comparison with other markets and this is deterring some technology companies from investing in it, but only technology can service the “vast unmet legal need” in the future, according to a leading lawtech commentator.
Law firms need “culture of experimentation” before they can embrace IT transformation
Law firms need to radically change their cultures to embrace emerging technologies such as cognitive computing – including suppressing their tendency to be risk averse – according to the head of strategy at a leading London practice.
NextLaw adds ‘smart contracts’ pioneer to start-ups portfolio
A company buildings contracts that automatically monitor enforcement and one producing software that harmonises legal compliance are among the latest investments to be added to the portfolio of NextLaw Labs, the legal tech subsidiary of global law firm Dentons.
Blog
It’s time for law firms to ask tougher questions
For years, many law firms have treated ID verification as a box-ticking exercise. Run a liveness check, match a face to a document and move on. But that is no longer good enough.
Business fatigue to AI will risk job security
Whilst we know professional learning has always been part of career paths, to hire, retain and keep talent, AI needs to be embedded as a core part of this training.
On good authority? GenAI and the reputational risks to law firms
As GenAI’s influence grows, so do the risks which are already playing out in courtrooms across England and Wales, where some early adopters are setting precedents they would rather not.
