The march of the digital conveyancer continues apace, from the government planning to create the largest repository of open land data in the world, to the rapid adoption of sophisticated technology by conveyancers, such as chatbots and artificial intelligence.
So, how does legal regulation keep up with this? In association with the Council for Licensed Conveyancers, we convened a roundtable of industry experts to consider the current state of the market, the changes that technology could bring, and how the regulator should adapt.
It was clear from the discussion that the greatest challenge will be to devise a regulatory framework sufficiently flexible that it does not require constant tinkering as the technology continues to develop – regulation has always had the problem of constantly trying to catch up with the market. It has to balance protecting consumers with encouraging innovation for the benefit of those consumers. This is no easy task.