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Lawtech ‘sandbox’ a huge boost to innovation
- May 28, 2020
- Latest News
A new initiative striving to ‘transform the UK legal sector through tech’ has been hailed by the Law Society of England and Wales as a ‘huge boost’ to innovation which could inspire productivity growth in the UK legal sector.
LawtechUK* is described as a collaborative initiative between Tech Nation, the Lawtech Delivery Panel and the Ministry of Justice, to support the digital transformation of the UK legal sector. It will focus on increasing awareness and understanding of lawtech and fostering transformative innovation for the legal sector.
The work programme will include a government-backed Lawtech Sandbox for innovative R&D, and the development of new platforms, toolkits and online training. It will support and encourage technology pioneers to deliver what business and wider society need from legal services and dispute resolution in the digital era.
“Innovation in technology is a key driver of productivity growth in the legal sector,” said Simon Davis, Law Society president.
“The adoption of new technologies could boost the sector up from 1.3% per year to 2.7% per year - and every £1 spent on legal services supports nearly £1.50 in spending across the entire UK economy.
“This move will provide a huge boost to innovation by enabling start-ups and law firms to test propositions without falling into regulatory breach.
“As the global market for legal technology grows initiatives like this will support the UK sector to further increase its contribution.
“The Law Society will sit in the ‘ethics unit’ along with a number of other key stakeholders. We look forward to working with all our partners to ensure this initiative is a success.”