Legal tech is a broad and emerging area that is rapidly changing the way commercial firms and law firms do business.
At its simplest it could be the creation of a digital repository for all existing contracts in a firm. Adding the ability to interrogate, track and sign documents efficiently. Through to creating legal documents using digitised templates. Onto complex artificial intelligence (AI) that can interrogate thousands of documents, find targeted contract elements and reinsert points of variation. This is particularly useful where legislation changes such as the introduction of GDPR, the removal of LIBOR, or changes brought about as a result of Brexit and leaving the European Union.