Source: News from Wales
The Law Society of England and Wales has recently highlighted the need for the Welsh Government to invest in legal technology, urging the government to provide grants to small and midsize enterprise (SME) law firms. This recommendation comes from the report on ‘Reimagining Justice in Wales 2030’ under the Commission on Justice. The suggested grants would help these firms adopt productivity-boosting technologies that would otherwise be too expensive for them to implement independently. By following the blueprint of Singapore’s ‘Tech-celerate for Law,’ law firms could receive up to 80% funding for technology expenditures.
It also leverages artificial intelligence (AI) to assist in drafting and inserting everything from clauses to additional information. Language models have become increasingly popular assistive tools since major tech developers developed more robust variants. Major law firms have already invested in efforts like Microsoft Copilot, which uses generative AI to help lawyers triage instructions, manage playbooks, and build out. According to Addleshaw Goddard’s Michael Kennedy, 82% of their firm already uses an internal build of the GenAI tool with some training.
Legal tech, which encompasses technology and software used in the legal industry, offers a variety of solutions across different areas. One common use case is document drafting and review software. For example, Definely simplifies the drafting of legal documents and contracts by reviewing and proofreading content. The AI-powered tool allows legal professionals to cross-reference documents quickly and efficiently, reducing the time spent on repetitive tasks. This tool is just one example of how technology is revolutionizing law practice by enabling teams to serve clients faster and more effectively.
Read the full article: https://newsfromwales.co.uk/welsh-government-urged-to-provide-legal-tech-grants-to-sme-law-firms/
