The advent of digitalisation and globalisation has led to great advancements in technology. From smartphones and digital watches to banking and virtual dating apps, technology has completely transformed life. Most businesses now use technology to keep pace with the highly competitive market. Legal tech is one such domain, and this is affecting the legal industry in a number of ways.
Innovation and the law
The introduction of technology in the legal space has a vibrant future. The main reason for the backlog is the shortage of judges and lawyers in the judicial system. Legal tech will clearly play a major role in the Indian legal space.
There are many legal tech companies that have bridged the gap between justice and legal help. Online legal services provide a range of online legal services to consumers and businesses. Legal tech players are functioning in the fields of artificial intelligence (AI), research, and notarisation tools.
Affordable prices and easy access
The introduction of legal tech has made legal services easy to use and affordable. Despite this, the legal industry was not regulated and the customers had to pay high prices for accessing any legal service. But legal tech has now made it possible for consumers to know pricing structures.
Legal tech startups like Wonder. Legal are capitalizing on this market by providing high-quality legal documents at rates which are far cheaper than the fees usually charged.
Not against the lawyers
Against common perception, legal tech is not against lawyers as legal tech companies/firms neither offer personalized legal advice nor go to courts. One will still need a lawyer to fight his/her case in the court.
Lawyers are professionals with comprehensive knowledge of the law. They not only have legal knowledge but are also adept at the application of the law. In matters such as advocacy, technology cannot emulate a lawyer’s experience gained through many years of handling cases. The attorney’s sagacity, wisdom, and legal acumen will always be of utmost importance in the legal profession.
Lawyers are bogged with administrative work that wastes valuable time. Legal tech can help them with routine activities like writing documents in a particular format or reviewing or managing documents. This would help save time and use human resources aptly. One such legal tech company is e-discovery, which allows users to gather data that can be used as evidence in a case.
In spite of everything, the Law is ever-changing just like technology. With time the number of laws in a country increases and so do the complexities of the law. As with every other industry, adoption of advanced technology transformation and innovative strategies in the practice of law will help ring in a social and economic change in the country.