An online dispute resolution forum for small businesses is among the projects to receive £2m in government backing in the latest initiative to nurture ‘lawtech’. The Ministry of Justice-backed LawTechUK Vision announced today will also develop a ‘sandbox’ to help test new ideas for transforming the legal sector through digital technologies.
Professionals embracing technologies such as AI, robotics, data rooms, deal management platforms, client portals, automated reporting and e-signatures will be able to provide their services faster, better and at lower rates.
The working group will be charged with exploring the development of a regulatory sandbox to evaluate possible changes to existing laws and rules that may inhibit the development of innovative legal service delivery systems.
To find specific information in a million-plus contracts, the global professional services company turned to natural language processing and AI, launching a legal analytics hub in the process. Reports CIO Australia
Law.com reports.. Cyril Amarchand’s legal tech incubator Prarambh, launched in 2019, has graduated JRTC Intern, Leegality, and LegalMind from the seven-month mentorship program.