Business lawyers warned to prepare for future

Commercial lawyers have been warned that the disruptive impact of technology on the law and the legal system means they should be prepared. Chancellor of the High Court Sir Geoffrey Vos urged the profession “to turn its incredible intellectual fire-power towards the development of the English common law, so that it can effectively tackle the problems thrown up by the use of big data, cryptoassets, on-chain smart contracts, and artificial intelligence.” He cautioned that lawyers in other jurisdictions could steal a march on their British counterparts, telling the Commercial Bar Association’s annual lecture that lawyers should “think imaginatively about the world in which the commercial legal services of the future will be required.”

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