Legal tech in 2018. New aspects

Jul 31, 2018

Legal Tech, also known as Legal technology, refers to the use of technology and software to provide legal services. Legal Tech companies are generally startups that perform their business activities in a way that is defying stereotypes of the conservative legal market. In this article we will discuss the last tendencies in the world of legal technologies.

As you may know, a large number of lawyers were reluctant to use email even into the mid-2000s. Now, lawyers are keen on using the results of technological progress: automation tools which allow to reduce daily costs; cloud programs which enable safe storage and agile working; and AI research tools which give efficiencies and competitive advantages.

In the process of developing legal tech solutions the main focus of lawyers and developers were the needs of their customers. Legal tech in this case can simplify the process of communication with clients and allow them to interact with your firm 24/7.

One of new legal tech trends is AI and machine learning. The current understanding of Artificial intelligence (AI) is far from the science fiction concepts; legal AI developments are essentially sophisticated methods of teaching computers (partly using machine learning which allows a system to learn automatically using a predictive algorithm, without being manually programmed) do away with some routine tasks like a search through vast quantities of data.

Predictive coding is one of the most significant practical implementations of AI within legal tech. This is a form of technology-assisted review used to cross-examine, with a high degree of accuracy, a great amount of electronic data and documents in relation to the electronic disclosure. The efficiencies, costs benefits, consistency and certainty, offered by predictive coding, indicate that its usage in international litigation is likely to increase and this is only one aspect of the application of this technology in provision of legal services.

Stay tuned with Offshorelicense to be informed of all legal news in relation to legal tech and digital industries.

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