Like most countries, the United Kingdom has embraced technology, especially their Legal Industry, which brings great significance to their national economy. With the various digital developments, the UK has made sure to improve its LegalTech. The terminology LegalTech pertains to technology helping the implementation of law and is commonly used for marketing and providing legal services. LegalTech aims to be more efficient by working faster, being cost-effective, and increasing productivity. With that said, here are the five technology trends in the UK legal industry that you should take note of:
Having legal software is a vital component for managing organizations because it provides platforms for legal processes that are safe and convenient. For example, organizations, especially law firms, may secure electronic signatures or review confidential contracts and cases. There are many types of legal software that each has its own specialization. Still, the most important one is privacy legal software that protects the information and business operations from potential hacks.
Artificial intelligence in the legal sector has revolutionized the industry by decreasing the chances of error from happening. Many legal sectors have been using AI to help with numerous minuscule tasks to maximize the time of lawyers. An example is a firm in the UK wherein an AI electronically litigates personal injury cases from road accidents. As a result, the costs are reduced, and customer service has sped up. This also allows lawyers to focus on more severe cases.
With the COVID-19 Pandemic, legal proceedings have been taken online, which is why there must be a recording and transcript. Instead of court reports or lawyers repeatedly listening to the recording and manually typing, transcript technologies process the recorded file. This is advantageous because it saves time and gives a 99.9% accuracy rate.
A virtual paralegal is great for speeding up operations because it is an automated response hence why they are also known as chatbots. For cases that are not complex, virtual paralegals can handle it. They are programmed by experts, so the accuracy of their answers is guaranteed. The goal of virtual paralegals is not to replace human customer service but to assist by answering frequently asked questions.
– Cloud Migration
Cloud migration is a crucial technological trend because it secures databases. When legal documents are shared, the cloud makes sure that it is protected from prying eyes. The cloud ensures its cybersecurity, whether it is an email, text message, case management, or more. It also stores it for easy access to everyone that is supposed to have it. Apart from the security, this is incredibly advantageous because it is cost-effective.
The legal industry of the United Kingdom has taken advantage of technological developments to increase efficiency in their services. They use legal software to manage organizations, artificial intelligence to minimize error and maximize time, transcription technology to obtain transcripts from legal proceedings, virtual paralegals for automated responses, and cloud migration for protecting and storing data. These technology trends have contributed significantly to their legal industry, and with the constant developments, there is definitely more to come in the future.