Artificial intelligence (AI) will free up solicitors from lower-level work to carry out more complex tasks, a new report concludes. We have published a paper which looks at innovations in technology affecting the legal service sector. The report shows that rapid developments in AI will mostly be focused on back-office functions, addressing out the less…
More than two hundred countries in the world have agreed to abide by the anti-money laundering (“AML”) recommendations developed by the Financial Action Task Force (“FATF”), which is an intergovernmental organization. This article focuses on the potential impact on the legal profession of FATF’s fourth round of mutual evaluations. During these mutual evaluations, which currently…
This research provides a detailed picture of levels of innovation and use of technology by legal services providers. By focusing on technology as well as innovation, we are able to build our understanding further, following on from our landmark study of innovation undertaken in 2015. 1 The survey captures the attitudes of legal services providers,…
ICLR Conference 2019 Law Society of Scotland | Edinburgh 4-6 September 2019 ICLR is pleased to announce that the host organisation for the ICLR conference in 2019 will be the Law Society of Scotland and the conference will take place in Edinburgh between 4-6 September 2019. Please hold these dates. We were also grateful to the Kenyan…
The Law Society is seeking input from the profession regarding a proposal to establish a new class of legal service professional who would hold a limited scope licence to practise in the area of family law. The concepts advanced in the scope of practice proposed in Schedule A of the discussion paper are not conclusions….
The Bar could be “sleep walking into a nightmare scenario” where new rules mean it has no involvement with its regulator, the incoming chairman of the Bar Council has warned. Richard Atkins QC also suggested that the Legal Services Board (LSB) did not have the evidence to back up its assertion that its proposed internal…
Artificial intelligence-backed lawtech has the potential to improve access to justice but also carries a danger that automating law will be used negatively, meaning regulators will have to step in, a global innovation charity has warned. Nesta, which is working with the Solicitors Regulation Authority (SRA) to identify and support transformative AI legal technology, backed…
If the UK exits the EU without a deal, there would be an end to the current preferential treatment of EU lawyers wishing to practise in England & Wales. The Solicitors Regulation Authority says that the UK Government has made clear that this would be the case if the UK moves to WTO rules, ending…
Prior to the Global Financial Crisis, financial innovation was driven by so many factors, but the Global Financial Crisis changed the regulatory pendulum, which has swung to deeper regulation and also changed the way we thinking about financial innovation. The financial innovation – with its bright and destructive outcomes – is an integral part of the competition in the…
Legal profession is undergoing fundamental changes; and this is the case not just in established legalmarkets. Based on a state-of-the-art sketch, this paper identifies and analyzes the latest innovation initiatives and alternative business models in China’s legal profession. It finds that, propelled by the market demands and benefiting from technological advancements, the provision of legal services has become highly versatile today, giving rise…
