Legal tech, lawtech, let’s call the whole thing off

Legal tech, lawtech, let’s call the whole thing off

The legal sector is supposedly a late adopter of technology. In fact, today, lawyers are embracing technology more and more. Currently in the legal industry, you can’t escape the word ‘legal tech’, or ‘lawtech’, or whatever the current buzzword is, and the inevitable hype that ensues.  

Lawyers are reaping the rewards of investing in automation tools that reduce administrative tasks and increase efficiency. Cloud solutions enable agile working, and AI-enabled research tools give you competitive advantage to compete in court, against your competitors – in your many guises as a legal professional.

So, what’s the latest need to know information on the legal tech front? In this article, we have debunked some of the myths surrounding the topic and looked pragmatically at recent interesting developments.

 

Tech innovation investment booms

 

So far this year, £62m has been invested in UK legal tech start-ups, compared to £22.2m in 2017 and £25.1m in 2016.

Academics at the University of Oxford have been awarded £213,000 by the government to study the lawtech 'ecosystem', as part of a project led by the Faculty of Law aiming to enhance innovation in lawtech start-ups.

The Solicitor’s Regulation Authority (SRA) has also announced that its strategy until 2023 will involve regulation to help the development of legal tech. Anna Bradley, SRA chair, said:

 

‘Technology has the potential to help address the problem that far too many people struggle to get the legal help they need. We want to help unlock those opportunities for the users of legal services and for the professio

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About the author:
Amy is a content writer and marketing manager at LexisNexis. She previously worked as an independent writer and researcher, for clients such as, Unilever, Kantar TNS, The Soil Association, MasterCard and Lufthansa Airlines. She has written for national publications, including City A.M. and Financial IT. Amy now writes and plans editorial content for the LexisNexis blogs, campaigns and industry magazine features. She has a Bachelor's Degree in Italian and French from the University of Warwick.