Recent Trends in Legal Tech 21 March 2018
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1 Recent Trends in Legal Tech 21 March 2018 Pia Ek Partner, Head of Digital & TMT and Outsourcing Castrén & Snellman Attorneys Ltd
2 "The most pressing issue is making sure the industrialization of the legal sector is global and not slowed down by national or regional isolation. Technology knows no borders, but legal markets can create barriers. We need to work on the global cooperation of legal tech initiatives to break down silos and work together across borders for the good of all users of legal services." by Richard Tromans Castrén & Snellman 2
3 What is Legal Tech?
4 Global Trends in Legal Tech Document automation GDPR Solutions BLOCKCHAIN electronic signatures legal innovation CLOUD SOLUTIONS DATA SECURITY SOLUTIONS AI Castrén & Snellman 4
5 Global Trends in Legal Tech Document automation BLOCKCHAIN legal innovation CLOUD SOLUTIONS DATA SECURITY SOLUTIONS GDPR Solutions electronic signatures AI Castrén & Snellman 5
6 Global Trends in Legal Tech Document automation BLOCKCHAIN legal innovation CLOUD SOLUTIONS DATA SECURITY SOLUTIONS GDPR Solutions electronic signatures AI Castrén & Snellman 6
7 Global Trends in Legal Tech Document automation BLOCKCHAIN legal innovation CLOUD SOLUTIONS DATA SECURITY SOLUTIONS GDPR Solutions electronic signatures AI Castrén & Snellman 7
8 Global Trends in Legal Tech Document automation BLOCKCHAIN legal innovation CLOUD SOLUTIONS DATA SECURITY SOLUTIONS GDPR Solutions electronic signatures AI Castrén & Snellman 8
9 Global Trends in Legal Tech Document automation BLOCKCHAIN legal innovation CLOUD SOLUTIONS DATA SECURITY SOLUTIONS GDPR Solutions electronic signatures AI Castrén & Snellman 9
10 Responsible Deployment of AI What is AI? Legal & commercial risks Practical mitigating solutions Castrén & Snellman 10
11 Deployment Risks in 2017 Social Disruption Failure to perform No error free humans or software exists AI performing safely and securely may have negative social effects Malicious re-purposing Systems designed for good may be maliciously reused 6 CATEGORIES OF RISK Privacy Legal and reputational risks in handling data Discrimination Biases in the underlying data? Vulnerability to misuse AI may be misused and not know it Castrén & Snellman 11
12 10 Key Principles for Responsible Deployment Good Governance Quality Assurance Legal Is AI on risk register? Real-time monitoring and alerting? Auditable casual process? Accountability framework for algorithm? Sufficiently accurate algorithmic predictions? Healthy data? Well-specified objective and robust? Data compliance? Discrimination risk? Risk allocation? Castrén & Snellman 12
13 Legal Tech at Castrén & Snellman
14 Automation of Legal Documents The Transformer Project
15 The Transformer Project Focus on clients special needs through cost-effective working methods Up-to-date model library through involving lawyers in the process Castrén & Snellman 15
16 Piloting AI at C&S PILOT PROJECT GOALS Increase efficiencies, mitigate risk and improve our service to the Clients Automate due diligence tasks using AI Castrén & Snellman 16
17 Future Prospects of Legal Tech
18 THANK YOU! Pia Ek Partner Castrén & Snellman
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