Legal technology : a threat or an aid to the legal profession? : a term paper discussing the effects technology will have on legal services

Abstract

The law has always been part and parcel with the human experience. Legaltech, in the broadest sense, includes more than technologies that are narrowly tailored to assist the legal profession. It will indubitably be an asset to future lawyers or legal services providers, as they would be able to better provide value to anybody applying or interpreting the law. The phrase ‘legal technology’ is somewhat oxymoronic; the disassociation between ‘legal’ and ‘technology’ is encapsulated only to the extent at which legal markets have resisted the adoption of technology. Apart from effectively contributing to a more modern legal culture, lawtech is, rather than a potential negative force on the legal profession, a means to diversify legal culture. This will go on to create a more competitive, customer-aligned, client accessible environment, in which lawyers deploy technology to solve challenges. It is therefore important that legal professionals, and legal instruments, are kept up to date with technological advancements. This dissertation aims to explore the ways in which lawtech will affect the legal profession and will specifically discuss e-contracting, smart contracts, AI, online courts and, albeit briefly, document automation. Section I of this dissertation comments on the current modes of the legal sector and will shed a light on what may come. Indeed, in Section II, the discussion centres on how regulation may change to cater for those instruments which presently require a physical form. The concept of online courts will also be made reference to. Section III, meanwhile, gives a basic insight to smart contracts and how such instruments may go on to transform the role of the legal professional. Finally, Section IV will discuss the impact AI may have on lawyers and the judiciary.