AIFC Lawtech advisory council
FORTNIGHTLY LEGALTECH DIGEST
ISSUE No.14
ISSUE No.14
Stay updated, stay informed about legal technology news and events with AIFC LawTech Advisory Council's Fortnightly LegalTech Digest
LEGALTECH NEWS & ARTICLES
5 (Unforeseeable, Predictable, And Surprising) Legal Tech Tends In 2020
The momentum of technological change and innovation in 2020 assured a steady stream of new products.
We were all blindsided as 2020 unfolded, yet the momentum of technological change and innovation assured a steady stream of new products. I have identified five trends, which I have divided into three categories: unforeseeable, continuing and surprising.
Image: Getty
Source: Above The Law
We were all blindsided as 2020 unfolded, yet the momentum of technological change and innovation assured a steady stream of new products. I have identified five trends, which I have divided into three categories: unforeseeable, continuing and surprising.
Image: Getty
Source: Above The Law
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In our previous online article, we mentioned that Hong Kong still operates under the traditional mode of Court filings and serving physical documents in stark contrast with other jurisdictions that have begun to embrace electronic service and filing. This article focusses on the recent adoption in Hong Kong of practices already in service in England.
Source: Hong Kong Lawyer
Source: Hong Kong Lawyer
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International Arbitration and Legal Technology in Singapore
Covid-19 has accelerated the technological wave and has substantially impacted the way international arbitrations are conducted. Virtual arbitrations and hybrid hearings are now increasingly common in international arbitration. In Singapore, the Singapore International Arbitration Centre (SIAC) has launched a series of webinars to guide arbitration lawyers in conducting and running a virtual hearing. Maxwell Chambers, where the SIAC, the International Court of Arbitration of the International Chamber of Commerce (ICC) and the International Centre for Dispute Resolution (ICDR) are located at, also has in place infrastructural facilities and services to support the smooth and efficient conduct of a virtual arbitration. These changes were implemented efficiently in a matter of months.
Image: thuraisingam.com
Source: Benchmark Litigation
Image: thuraisingam.com
Source: Benchmark Litigation
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How innovation is shaking up the legal sector
At Legal Cheek’s recent event, ‘Innovation and the law – with BARBRI, Bryan Cave Leighton Paisner, Irwin Mitchell, and Elevate‘, a group of lawyers and legal education experts came together to discuss the interplay between innovation and the law. The quartet also discussed the impending changes the Solicitors Qualifying Exam (SQE) will bring to the market and offered their top tips for the next gen of lawyers.
Source: Legal Cheek
Source: Legal Cheek
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ASG LegalTech Launches "Paradigm" - a New Parent Company Brand with Four Industry Leading Legal Software Products Under One Roof
ASG LegalTech, a suite of legal technology products backed by Alpine Investors, announces the launch of Paradigm - a new parent company brand representing a suite of four industry-leading legal software products built for law firms of all shapes and sizes. The Paradigm suite includes PracticePanther, Bill4Time, MerusCase, and Headnote, each of which will remain standalone products and brands. The ASG LegalTech brand will be sun set and replaced by Paradigm.
Source: AP News
Source: AP News
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Four AI Trends Impacting Corporate Legal Departments
Each day, the accomplishments of artificial intelligence multiply. AI recently solved Schrödinger’s equation in quantum chemistry. It regularly diagnoses medical conditions, pilots jets and fetches answers for our everyday queries. And now, it might dance better than you do.
Image: Getty
Source: JDSupra
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New Technology Without Adoption Is Worse Than Doing Nothing
Despite the never-ending promise of how software will help transform your legal practice, most attempts at legal modernization still fall short in practice. By realigning your strategy along with the implementation of new software, you can get not only a return on investment, but real change.
Despite the never-ending promise of how software will help transform your legal practice, most attempts at legal modernization still fall short in practice. By realigning your strategy along with the implementation of new software, you can get not only a return on investment, but real change.
Source: Above The Law
Despite the never-ending promise of how software will help transform your legal practice, most attempts at legal modernization still fall short in practice. By realigning your strategy along with the implementation of new software, you can get not only a return on investment, but real change.
Source: Above The Law
| READ MORE |
How Smart Contracts Bring Real-World Improvements To Post-Trade Settlement
Digital transformation continues to speed up the pace of business. Yet asset-based transactions continue to run on slow, sequential settlement processes that are fraught with high costs and high risks. Smart contracts — digital records that encapsulate terms and mutualize workflows — offer an alternative.
The typical financial transaction uses a delivery versus payment (DVP) settlement process – a sequential transfer process that requires the purchasing party to act first and without certainty that the seller will deliver.
Source: Forbes.com
Photo: Getty
The typical financial transaction uses a delivery versus payment (DVP) settlement process – a sequential transfer process that requires the purchasing party to act first and without certainty that the seller will deliver.
Source: Forbes.com
Photo: Getty
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Smart contracts: Law Commission launches call for evidence
The Law Commission has published a call for evidence on smart contracts, “seeking views about, and evidence of, the ways in which smart contracts are being used, and the extent to which the existing law can accommodate them”. It may subsequently lead to proposals for law reform although, as the technology and use cases are developing there is a risk any proposals quickly become outdated, so the Law Commission is starting with the scoping study.
Image: Getty
Source: Burges Salmon Blog
Image: Getty
Source: Burges Salmon Blog
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UPCOMING LEGALTECH EVENTS
Date: 19th January 2021. Time: 19:00-20:30
Legaltech jobs
Legal Technology opens a plethora of new career options for lawyers inside and outside the traditional areas of law firms, legal departments, and the judiciary. But there is still a lot of confusion in the heads of students, lawyers, and HR professionals about the new professions at the intersection of the law and IT. What is the role of a legal engineer in automation projects? How can a legal technologist help a law firm becoming more effective? Where and how are those trailblazers prepared for their future jobs and where can I find them? Join ELTA on January 19 to get an answer to those questions and talk to people who already work in these fascinating new careers, prepare them, or find them jobs.
Source: ELTA
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Date: 21st January 2021. Time: 14:00-14:45
Conversations with entrepreneurs
During this webinar we hear from entrepreneurs and business leaders as they discuss their own journey to success. Join us as we learn from others’ experience of business growth and financing strategies. We will learn how our interviewees acquire focus, gain inspiration/motivation and form connections with potential supporters and collaborators.
Source: Mills & Reeve
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Date: 26th January 2021. Time: 10:00 - 11:00 BST
Risks and rewards of using technology effectively in legal practice
The working environment has drastically changed meaning that legal professionals need to be more economical with their resources.
Workloads have increased, not necessarily because firms have more business, but often due to reduced resources. With this in mind, many are using freeware to speed up their workloads and potentially taking security risks to become more time efficient.
This webinar, in collaboration with Nuance, is designed to help firms develop or shape a granular view on clients, practice areas and location they want to prioritise.
Using the right technology that is relevant to your business and specific needs, is the key to benefitting through digitalisation.
Workloads have increased, not necessarily because firms have more business, but often due to reduced resources. With this in mind, many are using freeware to speed up their workloads and potentially taking security risks to become more time efficient.
This webinar, in collaboration with Nuance, is designed to help firms develop or shape a granular view on clients, practice areas and location they want to prioritise.
Using the right technology that is relevant to your business and specific needs, is the key to benefitting through digitalisation.
Source: The Law Society
| MORE DETAILS |
Date: 27th January 2021. Time: 15:00 (GMT)
Connected and Protected: Delivering Cohesive Legal Services
The esteemed panel will discuss the opportunities and challenges presented for traditional, hybrid and virtual law firms; explore the balancing of risk-taking with risk aversion; discuss adopting a zero-trust approach to network access; and consider how complexity compromises security.
Source: NetLaw Media
| MORE DETAILS |
Date: 27th January 2021. Time: 16:00 - 17:00 GMT
The Top Priorities for Legal and Compliance Leaders in 2021
What will top the legal agenda in 2021? What new disruptions will legal executives face this year? This complimentary webinar reveals the highest-priority initiatives for legal and compliance executives. Benchmark your 2021 plans and gain insights that will help you address your top business challenges and stay ahead of the curve.
Source: Gartner
| MORE DETAILS |
Date: 28th January 2021. Time: 14:00 until 15:00 BST
How does legal AI really work?
AI can help assist lawyers to complete fast, efficient and insightful reviews - but how does it do this? Join us for a deep dive into the revolutionary AI technology which underpins Luminance.
Source: Luminance
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