Top 5 Areas In The Legal World Where Software Is Making Strides
On news of the first, possibly world-first, success in using e-Judiciary and with all evidence presented to the court in a digital format, we present 5 top areas in the legal world where software is making strides.
Search engines make light work of incredibly complex tasks. A full text search with natural language processing will retrieve exactly the right documents within moments. A huge boon for the legal industry and its clients, now document discovery has become comparatively light work and retrievals times become nearly immediate.
Proving a principle that has already been established in law has previously been a labour intensive task and many days could be spent in the library poring over volumes of case histories. Happily, search is going to the next level with AI algorithms. A.I. Judges anyone?
Electronic signatures are a fast, convenient and secure method of signing documents online. The ability to get legal documents signed immediately from anywhere is a great help for clients when printers are gathering dust in the store cupboard. When it comes to critical deadlines too electronic signature can be a life-saver. New guidance from the EU has strengthened the laws, and with a strengthening set of case law, electronic signatures are a simple way for firms to generate step-change improvement in productivity.
Digital Cloud Collaboration and Document Tracking
The accessibility of documents stored in the cloud is key to successful collaboration. Even remote members of a team can be on the same page and correct action can be rapidly determined and executed. Complex transactions with many documents, circulating around many people can now be done in real-time. In addition improvements in comparison technology means that the days of holding bits of paper in front a light to check for differences, which so many will remember, is now history.
Blockchain and Smart Contracts
In the works still are also innovations like ‘blockchain’ and ‘smart contracts’. While blockchain’s most visible incarnation is the backing to bitcoin, its potential across industry is significant. Proving a history or transaction event is likely to be blockchain’s forte.
But lawyers are right to be cautious for now till these technologies prove themselves. While AI, blockchain, robots are on the way, the human eyeball still holds court, for now.
This guest post was written by Ben Eliott, Legalesign – Electronic Signatures For Legal Services