The New Wave of legal tech is a global phenomenon

Artificial Lawyer reported recently from the Nordic Legal Tech Day how the interest in the New Wave of legal tech, especially legal AI, is now a truly global phenomenon. Read the interesting article here: "Growing Nordic Legal Tech Day Celebrates Legal AI"

As reported by Richard Tromans, Artificial Lawyer, this year saw several speakers from across Scandinavia and the rest of Europe, while the large audience of general counsel (GC) and attendees from major Nordic law firms were also buzzing with energy. In short, the AI session proved that the appetite for legal AI tools is just as great in the Nordics as it is in London. The challenge now is also the same as that experienced in the UK and US, which is moving from the idea of adoption to the practical reality of actually putting AI to work. The event also showed that GCs across the region take the use of advanced legal tech very seriously and want to know more. In time, as with other markets, more AI applications will no doubt emerge from homegrown legal tech entrepreneurs in the Nordic region. And this growth will in turn add to more green shoots of AI growth in many other markets, from India to Australia. This will combine with other investments in legal tech, from doc management to collaboration systems, to drive spending on technology in the legal sector.

The day concluded with the presentation of the Legal Innovation Award 2017, which was founded by Fredrik Svärd, who also founded legaltech.se, the main source of Nordic legal tech news. The winners were: Virtual Intelligence VQ, for most innovative company and Nils-Erik Jansson, founder of Precisely, for most innovative person of the year.

Precisely, is powering ahead into contract automation and now is in the developmental phase of producing AI tools for document review. Meanwhile, VQ, founded by Helena Hallgarn and Ann Björk, has been one of the early legal tech pioneers in Sweden on the contracting and KM-side and has also established VQ Forum as a venue for discussion about the future of the legal profession. They have just commenced a collaboration with IBM on an AI application.

Artificial Lawyer is a site dedicated to 'New Wave' legal technology, and was recently recognised as one of the top 50 information sites in the world on Artificial Intelligence. It is founded by Richard Tromans, who is also the founder of TromansConsulting, which advises lawyers on strategy and innovation, including the adoption of legal AI. He has spent over 18 years working in the legal sector focused on the UK and global legal markets.

Richard Tromans will be sharing his insights on the growing adoption of legal AI and the consequences for the law firm business model at the upcoming VQ Forum in Stockholm on 19 October. Find more information about the event here: VQ Forum

In his speech at VQ Forum, Richard Tromans will look at the growing family of legal AI technology, how legal data is now machine readable and what this New Wave of technology will mean for how lawyers work.

 

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