The legal sector is not alone in worrying about the tech-enabled future. But a recent report from the World Economic Forum suggests potential benefits from automation and suggestions of the new skills that will continue to be required from the human work-force.
In a landmark study, 20 top US corporate lawyers with decades of experience in corporate law and contract review were pitted against an AI. Their task was to spot issues in five Non-Disclosure Agreements (NDAs), which are a contractual basis for most business deals.
The interface of law and technology and its impact on the delivery of legal services globally has grown imperceptibly yet consistently over the last decade. Technology is facilitating cross-border legal services, helping firms reach a larger client base and providing consumers with a broader market of legal specialists and tools with which to access legal advice and information. Internally, law firms are slowly realising the benefits of technological tools to manage their business processes and deliver better value to their clients.