On the 20th of April, the Legal Services Board (LSB) released a report outlining what legal services can do to support the safe development of technology and innovation, whilst also acting in the public interest. The report outlines steps regulators can take to create an environment that ‘de-risks’ innovation and reduces uncertainty for tech providers and consumers.
In the report, the LSB outlines the role that regulation plays in removing barriers to innovation, both by increasing consumer trust and managing risks. This would in turn allow technology to open the legal services market to underserved elements of society, such as citizens and small business. Addressing unmet legal need and access to justice issues.
The LSB also notes that technology carries risks that need to be considered and managed. These include ensuring that those with low digital capability and digital literacy are not excluded from accessing essential services. The ethical and regulatory challenges of advanced technologies such as Artificial Intelligence must also be considered while ensuring they are not stifled.
Matthew Hill, Chief Executive of the Legal Services Board, has said: “Technology has the potential to improve access to legal services. It can enable citizens to get advice and support in a way, and at a time, that suits them. It can also help legal professionals carry out their work in new ways that make them more competitive, reduce costs and support growth. Covid-19 has accelerated the pace and scale of technological change, with many providers adapting and using technology to offer their services in new ways. We have started to see what is possible, but there is a long way to go to unlock the full potential. Regulation can help build on the momentum that Covid-19 has created and harness technology to reshape legal services to better meet the needs of society. Regulation can also help secure consumer confidence and build trust in new technology. Legal services regulators can take encouragement in opening up their regulatory arrangements to support new ways of delivering services for the benefit of consumers. As the oversight regulator for legal services, we have an important role in fostering innovation. From considering technology as part of our regulatory performance framework to exploring a statutory statement that can underpin proactive regulatory arrangements, we can create, and maintain, a regulatory environment that unlocks the role of technology and innovation in increasing access.”