AIFC Lawtech advisory council
Stay updated, stay informed about legal technology news and events with AIFC LawTech Advisory Council's Fortnightly LegalTech Digest
The seventh episode of the AIFC LegalTech Podcast is out!
In this episode, Mr Mark Beer OBE spoke with Dr Sam Muller. During this fascinating discussion, Dr Muller compared legal and medical sectors, spoke about ‘justice epidemiology’ and justice’s impact on the economic development. He also shared his view about the ways to help lawyers become more innovative and what we can learn from green economy. The final part of the podcast episode was devoted to the challenges that justice ministers around the world face and Dr Muller’s three pieces of advice on designing a perfect justice system.

Source: AIFC's LinkedIn page
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Silicon Valley’s Latest Legaltech Startup Will Match Clients With Attorneys

LawChamps, Silicon Valley’s latest legaltech startup and an online legal marketplace, will match clients looking for legal advice for personal and business matters with solo and small firm attorneys. It aims to overcome the challenges people face while selecting a lawyer: fear, trust, transparency, speed, costs, and choice.

The company is a lawyer search and matching platform and it will provide free lawyer search services to potential clients. These clients will then be able to select from a list of verified lawyers after considering their profiles, ratings, reviews, and reputation on the platform. The clients will be required to pay the legal fees after they decide to avail the services of any particular lawyer.

Source: JDJournal
Photo by August de Richelieu from Pexels

LegalTech Artificial Intelligence Market is Booming Worldwide | LexMachina, Blue J Legal, FiscalNote, Everlaw

The latest version of The 2021 market study on LegalTech Artificial Intelligence Market comprising 114 with market data Tables, Charts, Graphs, and Figures which are easy to understand with showcased in-depth analysis.

The Coronavirus Pandemic (COVID-19) has affected every aspect of life worldwide. This has led to several changes in market conditions. The report covers the rapidly changing market scenario and the initial and future impact assessments.

Source: The Bisouv Network
Allens reveals first legaltech accelerator participants
From virtual reality collaborations to robots that write contracts, some of the technology being adopted by lawyers is surprising to many in an industry known for traditional ways of operating. Yet it is probably the fast growing use of more basic tools that is most transformative of lawyers’ lives during the pandemic. Three trends have led to a seismic shift in digital lawyering that has been exacerbated by lockdowns, says Sergio Letelier, general counsel for M&A at Hewlett Packard Enterprise. They are: greater familiarity with the digital world; proliferation of big data; and big improvements in legal technology.

Photo: Allens Auctus
Source: Mirage news

KPMG reveals alliance with legaltech startup SirionLabs to boost contract offering

KPMG has partnered with legaltech company SirionLabs to help in-house legal teams improve the way they manage their contracts.

The strategic alliance will give KPMG customers access to Seattle-based SirionLabs’ AI-powered contract lifecycle management technology, which digitises the entire contracting process from drafting and performance tracking to risk management and analytics. 

Nicola Brooks, head of contract management transformation at KPMG Law, said: “We see contract management as a strategic enterprise capability that delivers commercial value. All too often we find that contracting is siloed and an administrative burden on sales, procurement and legal. We challenge leaders to think about contracting in a new way.”

Source: The Global Legal Post

New South African-founded legal tech platform launches for SMEs

A new South African-founded legal tech platform, LegitLaw, is an automated technology system that allows users to file their trademark and patent online, draw up a customised partnership and employment agreements, as well as draft day-to-day legal documents like antenuptial contracts and wills.  

As a first for South Africa, this innovative legal service provides a range of customised legal services to the South African public. 

Elaine Bergenthuin, co-founder of LegitLaw explains that this is a much-needed service for startups and SMEs in South Africa. 

Source: Venture Burn

Law firm begins work with entrepreneurs to build lawtech start-ups

Six entrepreneurs looking to develop lawtech start-ups have joined a new programme at the incubator MDR LAB, created by London law firm Mishcon de Reya.

‘Launch’ is a six-month programme that helps individuals build new ventures in or “adjacent to” the legal market.

Run in collaboration with Founders Factory – which describes itself as a pre-seed to series A venture studio and accelerator – the group is following “an immersive learning experience to access the tools, frameworks and support needed to build a backable business”.

Source: LegalFutures

Growth of ‘lawtech’ could bring down Irish legal costs and boost growth

Greater adoption of cutting-edge technology in the Irish legal services market could bring down costs and boost economic growth, a new report suggests.

The issues raised by the rapid development of “lawtech” are explored in a new research paper drawn up by Dr Rónán Kennedy BL of NUI Galway for the Oireachtas Library & Research Service.

Exploring the economic, social and ethical implications of lawtech separately, Dr Kennedy warns that AI-based tools can entrench existing biases and prejudices, and new technology could widen the “digital divide”.

Source: Irish Legal News
Photo: Getty Images

Time to consider regulating lawtech firms, report says

The time has come for the Ministry of Justice (MoJ) to consider whether lawtech companies, along with other unregulated legal services providers, should be regulated, the Association of Consumer Support Organisations (ACSO) has said.

ACSO said concerns had been raised that tech start-ups were beginning to flood the market with products provided directly to consumers “with a disregard for established legal practitioners and the constraints of regulation”.

Source: LegalFutures

March 3, 2021, 10:00 AM ET // 4:00 PM CET
Innovative Health Tech Projects
The webinar will provide a European perspective and discuss innovative health tech projects, and in particular, legal aspects pertaining to the development of artificial intelligence-based solutions and the use of health data in connection with such development activities. We will also briefly touch upon the new Medical Devices Regulation entering into force shortly. 

Source: International Technology Law Association

March 3-4, 2021

Diversity in LegalTech

This virtual roundtable will feature influential professionals from the world of legal technology, and advocates of DELTAS – an ethical group dedicated to promoting diversity and ethics in legal technology and security. During this open debate we’ll explore the progress made, and employment barriers that remain within legal technology and cyber security, whilst addressing the technical changes afoot within law firms right now.

Source: NetLaw Media


Disclaimer: The Fortnightly LegalTech Digest contains links to other Internet websites and information provided by persons not affiliated with the AIFC LawTech Advisory Council. Such links are not endorsements or referrals of any products, services or information contained in such websites, and no information in any such website has been endorsed or approved hereby. No claims, promises, or guarantees about the completeness, accuracy, currency, content or quality of information contained in the links to and from this website are made; information provided and opinions expressed by others do not necessarily represent the opinion of the AIFC LawTech Advisory Council. The AIFC LawTech Advisory Council expressly disclaims any and all liability resulting from reliance on such information or opinions.

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