Regulation: A catalyst for innovation?
Alison Hook questions in Solicitors Journal whether regulation is a stumbling block between the profession and a meaningful legal technology breakthrough. Debating whether the legal sector is finally catching up with the financial services sector in terms of harnessing the transformative power of technology to improve access to and standards of service. She says not yet as although larger law firms in the US, UK and Australia are experimenting with AI, as yet we do not yet have a legal Revolut or Monzo – a consumer-centred, technology driven legal service provider. Hook adds that although the courts in the UK and elsewhere have begun to address e-filing and explore the concept of online dispute resolution, little has changed.