Legalcomplex

  • Raymond Blyd

What is the Legal Industry’s Biggest Problem?
What is the Legal Industry’s Biggest Problem? 2560 1848 Raymond Blyd

On September 29th I shared an image from Premonition on Win-Loss rates of Dutch Lawyers, Here’s what happened next.

A series of tweets and questions which helped frame the debate in my mind and led me to a discovery: the biggest challenge facing the legal industry.

Transparency & Commodity

Metrics on win and loss for lawyers have always existed, they were just kept in-house. Actually, the practice of ranking lawyers may have started as early as 1868 when James B. Martindale first published a directory of lawyers and law firms and rated each. This practice has endured and is long overdue for an upgrade.

Besides, transparency allows consumers freedom to compare and comparisons lead to more consumption. So even if more legal services are commoditized, increase demand may still balance it out. Ultimately becoming more open and cheaper shouldn’t be a problem.

Quality & Complexity

Cheap legal products can never be the high-quality complex stuff, right? Well, here’s the thing about the complexity of legal matter: it is a subjective measure. Like all things in this world, what is complex for one person, isn’t for the next. Moreover, since legal matters are mostly solved behind a curtain of confidentiality, no one will be able to validate it. Even when circumstances are truly unique, the laws that may apply could be decades old. The simple fact that we use very static means to fix very advanced fluid problems is a human limitation. No wonder we find these complex. Computers driven by Moore’s Law do not have this limitation. And the same goes for quality.

Nonetheless, if we really want to be good at comparing value, then quality and complexity should be measurable. Some platforms are already moving towards becoming the standard of measure for legal endproducts.

The Biggest Problem

The legal industry is stuck selling hay to horsemen, while failing to envision the future of fueling transportation. Most industries with business models predating the internet face this dilemma. Just as car companies are acknowledging they should build solar powered robots instead of fossil fueled suicide combustibles. Legal professionals will need to accept they’ll have to abandon the prestigious and once profitable occupation of billing for complexities and settle for a noble occupation of coding a fair society. If self-driving talent is worth $10 million per person, legal engineers will be worth twice as much once we realise these robots lack empathy. They run on racially biased algorithms that will charge you extra to flee a terrorist attack.

The Best Solution

Face reality, our society needs rules and these should not be purely based on physics and math. Fact is that robots are inevitable and we should figure out the best way to leverage their strengths and fix their weaknesses. Fight for a world where the pen is still mightier than the sword.  But that the pen is the algorithm in our watch hailing a ride at a regular price when it senses our distress.

  • Raymond Blyd

A Message To Legal Tech: 4 Signs Winter Is Coming
A Message To Legal Tech: 4 Signs Winter Is Coming 1200 800 Raymond Blyd

After a couple of record breaking months during the Hottest Summer in Legal Tech,  I believe winter is upon us and here’s why.

#1 Lots of Legal, Little Tech

While Legal Startup numbers look spectacular, the reality is that the quality of startups is more of the same. Some geographies are doing better than others (see #4). However, the majority of registering startups are marketplaces, solo’s or niche practices that use simple & little tech. As the chart below illustrates, this year started very encouragingly. In January and February, Tech was winning. Yet in the heat of summer, the lead started to melt away. Clever company names will not disguise the fact, it is not tech you’re selling, it is just legal. This September we passed 40 again but don’t rejoice: since legal tech life should begin at 40.

[chart id=”3644″]

#2 Lacking Creativity

There is only so much spin and juice one can put on “Uber for legal” before you start smelling the rot. So I like to give a nod to Paper, who aims to automate the legal workflow associated with creating your business. By putting the legal flow in a UI instead of documents and making lawyers an “In-App” purchase. They also launched their site with an SSL Certificate or more commonly known as HTTPS. I’m not a security expert but I do feel more confident when sites have https. This makes Paper very rare on Angellist and I’m hoping to see more of them.

#3 Startup Winter

Angellist is preparing for winter because of a decelerating startup scene. They are not alone as Y Combinator, the world largest incubator, is also changing strategies. Both CB Insights (image below) and Mattermark are warning of a slowdown.  So I’m a bit bemused by the fact Legal is jumping on the accelerator. It takes, at best, 4 years for a business to find traction and 5 to flourish or exit. Moreover, if your startup is selling to the legal professionals market beware. Law firms have notoriously long sales cycles and this will only become more fickle as market pressures mount on them.

winter-cbinsightsSo when the Pro’s pause, Legal steps on the gas. And that approach may work but I do see the benefits of breaking so bear with me..

***Mr. Robot Spoiler Alert***

While my head is still reeling from Mr. Robot season 2 finale, I captured an important message dubbed “Python Approach“. One of the characters explains that a python’s primary attacking tactic is to wait for its prey to come. Patiently tracking it over long periods of time and snapping it up when the time is right. As Dom states, Pythons can go up to a year without food.

******

In short, startups should not expect Capital to be heading their way, so it’s time to bootstrap and focus on the other C: Customers. Choose them well.

#4 A Bright Spot

There are bright spots, as seen in this video: Where do Legal Startups come from? In October, I’ll publish more stats so here’s a preview: it seems the rest of the world is picking up the slack and I see quality legal startups emerging from Asia and Africa. Diversity & necessity may be better drivers for quality startups than venture capital or accelerators.

  • Raymond Blyd

The History Of The Future Of Law, 2056 AD
The History Of The Future Of Law, 2056 AD 2048 1152 Raymond Blyd

“…Son, did you know you needed a license to drive your car!? You needed a license to start a company. Heck, you even needed a license to be a lawyer.”

“Grandpa, What is a lawyer?”

“Well back in my days, we, humans, had some trust issues so we decided to have many rules in order for society to operate properly. This was before the great Computer Devolution*. Now, these rules became so complex that we needed special people to help us explain them. Much like an engineer teaches robots to behave before they can teach themselves, lawyers taught other people to behave with speech and text.”

“But who made these rules?”

“That’s the funny thing: before computers, lawyers use to conceive rules and made them so emotionally complex and conflicting that they were the only ones that were able to explain them. It’s also how they made a living. They called themselves Attorneys and they made a rule that no one else could be one unless you had a license. Just like driving a car”

“Hahaha, who wants to drive a car?!”

“Don’t laugh, cars didn’t use to drive themselves. We bought and drove them manually. It really wasn’t safe. I’m lucky I survived.  Did you know grandpa went to a law school to become a lawyer? I survive that too”

“Huh?!”

“He, Xuber** is here, let’s, go…”

 —

* devolution |ˌdevəˈl(y)o͞oSH(ə)n|: 

the transfer or delegation of power to a lower level, especially by central government to local or regional administration. In this case, from humans to computers. 

** In 2036, Uber transitioned from cars to drones for transporting goods and humans. They changed their name to Xuber to become an airline company and compete against Tesla Fleet.

  • Raymond Blyd

The Summer of 2016: The Hottest on Record for Legal Startups
The Summer of 2016: The Hottest on Record for Legal Startups 2540 1316 Raymond Blyd

Last update: March 17, 2017

You may have missed it but June 2016 broke the single month record set this February with 44 legal startups registering on AngelList. Wait, there is more…

**Update Sep, 2:  Psst, in August we broke 56 **

Last year, I was curious to know how many legal ventures were seeking fame and fortune from the angels. In December, I wanted to know what types of legal operations would deliver us from hell. This June, I still noticed quite a few law firms masquerading but I’m expecting more startups to be aiming for the heavens. So I was pleasantly surprised by the June numbers. More so seeing May and June are historically not known for its highs.

[chart id=”712″]

June 2016 did not only break the record but we may have reached a tipping point: It can very well be the first time more startups registered from outside the US on AngelList.

[chart id=”3200″]

Where do Legal Startups come from?

I first suspected Canada but a closer look revealed India making quite a surge. However, if we break it down in continents, the western hemisphere, specifically the Americas, still outweighs the rest…with a little help from South America.

[chart id=”3207″]

Where to track more Legal Startups?

Recently, there has also been a flurry of legal startup trackers. Here’s a list of communities and enthusiast chasing startups:

I’m a member of the Legalpioneer community and since I couldn’t find similar listings, I created the last 2 Charts and Hunt lists. In doing so I realized that it’s particularly challenging to tag and categorize legal startups. Stanford and ‘Legal Tech – Mapping Disruption’ both have about 8 categories but differ on topics e.g. only eDiscovery, Research and Practice Management appear in both. In 2013, a Quora member listed 11 submarkets in the legal space but this was before the AI and Machine Learning era. Same goes for tagging: Stanford has 237 tags and Lawhackers around 69 after de-duplication. In short, we are in the midst of figuring out the Fog of Apps and after the dust has settled, we’ll know who solved the real pains.

Meanwhile, it’s great to see that we’re back on track in making this a summer to remember.

 

**Update Mar, 17 ’17: Fixed Australia tracker **

**Update Feb, 13 ’17: Germany and Australia tracker **

**Update Dec, 20: Robert J. Ambrogi**

**Updated Dec, 7: Y-combinator**

**Updated Aug, 5: Added Spain tracker**

**Updated Jul, 18: Canada  & CB Insights as trackers**

  • Raymond Blyd

Evolution of Law And How Lawyers Can Engineer A Fair Society
Evolution of Law And How Lawyers Can Engineer A Fair Society 1920 1080 Raymond Blyd

How many laws does it take to run one of the most digital advanced economies in the world? I stumbled onto some interesting figures while looking for an answer. Perhaps the most significant: Do we need any laws to manage human behaviors? And if not, how does law need to evolve to ensure a fair society. Here’s the story behind Evolution of Law slides and how to engineer law.

Law Ecology

How many laws do we need?  in the Netherlands, we have a public law database: Wetten.nl and performing an empty search would reveal about 15,000+ pieces of legislation (inc. treaties) to date. Each piece of legislation represents one or more articles totaling 217,500+ articles. 

The largest piece of law is the Corporate Finance Law and has 1231 articles. Robolaw Is A World Without Law“, hinted that the most significant part of the law was focused on regulating the flow of money. These numbers seem to back this up.

Surprisingly, finance wasn’t the largest area of legislation. When sorting laws by a number of articles, I noticed vehicle and traffic laws near the top. So running another search revealed that Finance represents 2% and Vehicle & Traffic 7% overall. Meaning, it takes more rules to manage the movement of humans as opposed to money.

[chart id=”2975″]

 Litigation Economy

Why do we go to court? In the Future of Law, I discovered that 70% are civil court cases so I was curious to see how these breakout by area of law. While I initially found 55% of case law research dealt with divorce, the reality is that courts are actually literally buried in personal debt.

Courts handle about 85% family law cases annually, from which 52% deals with private estates. This is largely due to the rise of the independent contractors and subsequent bankruptcies.  Below chart shows the impact of business versus personal cases brought before the courts over the past 5 years.

[chart id=”3053″][chart id=”3049″]

The 17% increase in private court cases above also illustrates the significant shift in litigation away from big law to micro law.  The economy of business law is shrinking since more ‘businesses’ are actually privately backed or crowd-sourced ventures run by, and staffed with independent contractors. These ‘people’  will likely have a more practical approach to law and more sophisticated taste in legal services. Most importantly: they may not even be able to afford the legal services based on the current business models.

Check out the rest of the charts.

Legal Engineering

Why should we engineer law? The Evolution of Law explains the phenomena and illustrate the impact on the current legal construct and its contingent economy. Every enterprise ran on a platform of law (rules and articles) which made it possible to do business in a certain geography. Now, they run on platforms of code (apps and networks) making it possible to connect supply and demand globally. These platforms can operate entirely outside the law. Better yet, they can actually run their own economy independent of any monetary or tax jurisdiction. So even if lawmakers catch up and codify, they can never keep pace and modify.

How do we engineer law? Legal professionals should surrender prose & speech and start coding law into platforms. It’s a natural progression for justice. If app developers and platform builders want to create trust between strangers, they’ll have to honor the code between humans. Blockchain is a great example of the need to engineer trust. Albeit Blockchain is the most popular, it isn’t the only way. Lawkit is a more approachable model to demonstrate how app developers may think of constructing transparency and fairness into their products. Yet, it will take an awakening and an army of Legalpioneers to ensure a fair market for 3.35 billion entrepreneurs.

  • Raymond Blyd

LawKit: How Apple Can Engineer A Secure Legal Backdoor
LawKit: How Apple Can Engineer A Secure Legal Backdoor 1736 880 Raymond Blyd

In my previous post, I pleaded my case why creating a backdoor would be fair. I suggested a solution to Apple’s predicament: hire legal engineers to build ethic’s into the iOS platform. Here’s an explanation how legal engineers would approach creating a secure and fair system to handle requests for access.

Trias Politica

In 1748, Baron de Montesquieu published:  The Spirit of the Laws. He described the separation of political power among a legislature, an executive, and a judiciary. The moral of the story: there needs to be a Separation of Powers to balance and create a fair society. Fast forward to now: in our current legal construct, the balancing of powers reside with the courts: a hopelessly archaic system where 18th-century laws can still rule.

From Courts to Code

The two most common types of judiciary systems are Judge or Jury. Both are extremely limited and thus flawed in the sense that they rely on just one or a few minds to determine justice. Now, with modern technology (and some ingenuity) this power can be separated and distributed to more minds and systems.

On slide 22 in the Future of Law deck, I provided the eBay example: 60 million disputes each year being settled by their built-in Online Dispute Resolution platform. If we count Alibaba, it would not surprise me if that number would triple. Google received over 100.000 requests for user data or accounts from governments last year. In addition, they also received 74 million copyrights removal request just last month as published in its Transparency report.

In order to manage these unprecedented numbers, most online service providers include arbitration clauses in their terms of service. The fairness is debatable but the principle remains: the digital realm is inconspicuously moving away from the traditional institutions and towards a more open distributed form of justice.

Apple

Now that Apple clashed with a judicial opinion from a single soul, it may want to consider how its products balance fairness. Here’s the main issue: Apple is perceived to be having the power to unlock an iPhone, whereas Apple has engineered the iPhone in such a way that it does NOT have that power. This perception should change and Apple needs to clearly separate that power. With a simple technical shift: when the User is incapacitated, a Crowd, not Apple, must have the power to decide to provide levels of access.

Apple has already provided levels of access to the iPhone that do not need the user’s fingerprint or passcode: Calendar, Reminders, and Notifications are accessible on your locked screen. You can even use it as a normal phone and make emergency calls.

By simply extending this design, Apple can provide emergency access to various levels of data.

 

Emergency Access

Here it gets tricky so stick with me: When tapping on the emergency button in lock screen mode, you could make a call or request emergency access. When you request Emergency Location Data you are presented with a choice:

  1. Missing Relative
  2. Law Enforcement

As a relative, you can retrieve location data from your loved ones if they have set you up as an emergency contact. Law enforcement request is handled differently. Requests are deposited in a distributed network of 20.000 randomly selected iOS users. They would then need to review your request and vote on giving access.

Why 20.000? Again, brighter minds must prevail but I’m assuming it is representative sample set which can make a fair judgement. It may prove to be statistically better than an experienced panel of judges or 12 random strangers.

The tricky part is how to relay your emergency request to 20.000 users in such a manner that they would be able to clearly and consciously judge a request?

The randomly selected users come from a pool of users that opt into the system just like jury duty. The vetting process would be similar to the way Uber drivers are vetted or how apps are approved in the App store.

The most difficult part is proving your request is legitimate but that is where technologies like Blockchain may assist. Touch ID, Family Sharing, Find my Friends also come to mind for assisting the validation process.

Law Kit

Is this system unique for Apple? Well actually, they already hired ‘Health Engineers’ to help set up a similar system called Health Kit: a platform where users can safely and securely donate sensitive and personal health metrics via iOS. It has been an unprecedented success and probably saved countless lives. Apple has all the ingredients and experience to create a similar framework on top of iOS. Law Kit would help Apple achieve 3 goals:

  • Separation
  • Transparency
  • Fairness
    LawKit-text

Separation + Transparency = Fairness

If Apple implements LawKit, it can separate the power to police from the core of iOS. It can, therefore, comply with any number of requests, at any scale and distribute these accordingly. By using its large user base as a judiciary system, Apple can provide a level of unprecedented transparency. It will need some getting used to and may even require some legislation to back it up. But in all fairness, no one conglomerate can wield this much power without it becoming maleficent.

Ultimately, it may prove to be good business if Apple helps me Find my Angel, not just their iPhone.

  • Raymond Blyd

Apple’s Backdoor is Unlawful…with One Exception & One Solution
Apple’s Backdoor is Unlawful…with One Exception & One Solution 2048 1152 Raymond Blyd

I was quick to condemn the courts forcing Apple to create a backdoor. I couldn’t imagine any situation where it would be justified…or maybe I could?

Yesterday I drove home thinking: there really are no legitimate circumstances where this judgement could stand. And many are siding with Apple but one provided a balanced response which gave me pause:

Exception

It suddenly flashed through my mind that there may be one exception: If one of my little girls had gone missing and her iPhone contained the only clue to her whereabouts. Let me first pray ??  and knock on wood ✊? that it will never happen. But if it did, I would move heaven and earth … and most likely beg Apple to unlock her phone.

I’m a big proponent of privacy because it creates trust. When Apple introduced Touch ID, I was hoping for the end of password tyranny and the dawn of a more considerate and secure digital age. Any large institution, with the power to invade my privacy at any given time, must honor my basic human rights.

That’s easy to say when it is just my life. Amber alerts set a precedent that gave authorities extraordinary powers including the ability to send everyone’s an SMS, even if their number was private. It might be worth considering alternate ways to provide access to, at the very least, loved ones to retrieve critical information under certain conditions.

Solution

In his Message to customers, Apple’s CEO Tim Cook eloquently explains why their smartest engineers designed security into the iPhone. In that same spirit and passion, I hope Apple have Legal engineers design ways to resolve ethical issues into its products. Coding security is possible, now let us give morality encryption a try.  Inevitably, the Future of Law should have us moving from Courts to Code and Apple can lead the way.

I hope brighter minds than mine will ponder and prevail in this dilemma. So while Apple’s backdoor may seem unlawful, having no exception will feel as awful.

Meanwhile, I’ll work on creating enough trust between me and my angels, that they’ll let me know their password.

  • Raymond Blyd

The Future of Law And Why Lawyers May Save Humanity
The Future of Law And Why Lawyers May Save Humanity 1920 1080 Raymond Blyd

It started with a Number and a Question: What is the Future of Law?

The discussions surrounding the mundane anxieties of lawyers losing jobs to robots spurned my interest. Most jobs (pdf) in the information age will ultimately be replaced by automation and many believe humanity itself is in danger of being wiped out. Now whatever the path is to utopia or extinction, it will follow a set of rules. So my question is: who will ‘encode‘ these rules?

Waking up on the Frontlines

This story follows 2 paths. First, I was invited to open a Legal Tech session so I prepared a couple of slides. Second, I woke up one morning to yet another “Will Robots eat your Lawyer?” story and had enough so I posted 3 statements:

I do acknowledge that when machines learn, they will outsmart us. Until that happens, we should send our best arguers, the engineers of right & wrong, to the front lines to defend us against existential AI.  Here is how I came to this revelation.

The Cloak of Justice

For the session, I prepared 3 statements and did some analysis of the state of legal research in The Netherlands.

Future of Law.005

I went looking for numbers. In particular, how many court cases were caused by contract disputes. My hypothesis: If the majority of court cases were the result of civil disagreements. Then there should be a focus on a more rigorous design of contracts or alternate ways of settling disputes. The rationale is that the legal practice should code smarter contracts to prevent conflicts or create platforms to more efficiently resolve disputes.

According to the Dutch Central Bureau of Statistics, there were 1.3 million judicial proceedings [footnote]Note that a single case may have multiple proceedings[/footnote] in 2014 and 920,700 (70%) were marked as civil as opposed to criminal or administrative. Now, civil proceedings could be a lot of things so I needed a more precise breakdown. I went over to Rechtspraak.nl, the main source of dutch court cases, and did a few scoped searches e.g. all civil cases between 1/1/2014 and 1/1/2015. The search resulted in the total amount of 9867 hits[footnote]I perform the search twice and had 2 different results in a span of a few days. Lucky I made screenshots of both to confirm I wasn’t crazy ?[/footnote], whereby 7429 hits came up as having no category.

Now here’s my little revelation: for a profession, which prides itself on being comprehensive [footnote]and command a hefty fee for being so[/footnote], it’s weird that they would settle for using just 1.07% (Number) of the available data. I’m curious to know how almost a million cases gets dwindled down to just 2438 (0.27%) distinguishable ones. While I do understand that most may have been ‘hand-picked’ for legal research value. The reason such a small number of cases gets chosen may be because they embody some advantageous arguments counsels can use to win a case.

However, some players are betting big that the key to winning actually lies in the 99% of cases in limbo. Analysing win rates and judicial decisions at scale may provide counsels with smarter strategies and clearer advantages. And once these floodgates of data open, it will start a foot race to find the right algorithm to define millions of cases each year. I can also envision the discomfort this unprecedented openness will bring to the judicial system. But it will be like seeing Pluto for the first time.

Litigator vs Terminator

While some say that algorithms are becoming a commodity. Since they have yet to be created in the legal space, I think they still be extremely valuable.

An algorithm is a set of rules which at some point a human will specify or, at the very least, can tweak. Remember, “Not even the people who write algorithms really know how they work“. In Predictive Coding, lawyers use a set of documents to train the engine to discover similar documents. The same will probably happen when more legal data becomes available and it becomes humanly impossible to ‘hand-pick’ cases.

At that stage, legal engineers, who understand rules within the algorithm, will know how to influence the output. I see this has an enormous responsibility since the algorithms will determine the 10 blue links of justice. This goes beyond retrieving smoking-gun documents or killer arguments.

Hence, the Question: Will the future of law be determined by humans or algorithms? Remember, these machines learn, and they learn from us so we should be good teachers. And lawyers may be the best we have.

Future of Law and Why Lawyers May Save Humanity on Slideshare


  • Raymond Blyd

2015 Year in Review: The Cool, The Beautiful & The Intelligent
2015 Year in Review: The Cool, The Beautiful & The Intelligent 1920 1080 Raymond Blyd

2015 was quite an eventful year in legal tech. Here’s my shortlist in random order:

But 2015 is also the year legal startup growth stalled:

  • In October, I didn’t de-dup startups tagged as both legal tech and legal so the real numbers aren’t that spectacular.
  • In 2014 (337), we had a 56% increase compared to 2013 (215). 2015 is just 2% (349)
  • Yet, tagged as Legal Tech (139) almost doubled compared to last year (78)

[chart id=”1935″]

I made a breakdown of types of legal startups registered in December 2015 on Angel.co and it seems that:

[chart id=”2502″]
Dec 15 AngelList2
  • But Angel.co isn’t the only place to hunt legal startups. Mattermark.com (paid) of CB Insights (paid), or Dealroom.co (freemium) are also excellent sources;
  • Heck, there even is a dedicated legal startup tracker called LawHackers.co;
  • And I also discovered that there are about 946 in the US while roughly 1405 legal startups come from outside The States (Source: Mattermark.com, Dec. 9, 2015);
  • I was also happy to see a cool tax startup make it on ProductHunt;

And now for the moment you all have been waiting for: Legalcomplex awards for the coolest, the most beautiful and the most intelligent legal tech of 2015…envelope please…

The Cool

Blockchain

I feel this is the beginning of something epic for the internet and the law.

Honorable mention: Machine Learning

The Beautiful

Kresolve

I was smitten by the use of gif’s to convey the beauty in legal.

Honorable mention: ZocDoc

The Intelligent

Lawbot.co

I see brilliance in its simplicity and power of its potential.

? ? ?

Disclosure: This review was compiled based on my 2015 stats from Twitter, Linkedin, Pinterest, My Blog, Medium etc so it’s completely bias and non-scientific.?

  • Raymond Blyd

Electrifying Insights from Big Data In Law
Electrifying Insights from Big Data In Law 1920 1080 Raymond Blyd

We recently presented a Masterclass at the Rotterdam School of Management, Erasmus University (RSM), and while preparing I had a couple of insights.

As with Artificial Intelligence*, I mostly shied away from the “Big Data” discussion because I felt it was engulfed by Inflated Expectations. Without the right tools to visualize it, more data only provides more problems. Big Data is now all grown up and the evidence is in the apps.

Big Data impacts Legal…Big Time

Our presentation was part of an Executive Education program called “Leadership Challenges with Big Data” and sandwiched between all the professors presenting were Peter & I. Since we only had 45 minutes and were the last act before lunch, we decided to stick to real-world examples to explain the impact of Big Data on the legal sector. While compiling these examples, I was amazed by not only the variety of ways (text recognition or sentiments analysis) but also the variety of data that can solve legal problems. Not only legal matter like legislation or jurisprudence but also non-legal matter such as news, time & billing, court records, and insurance data. Even social media and location data are valuable in helping to decide a legal course of action.

Less Law – More Automation

There is this slight difference between tools for the business of law and the practice of law. In the practice of law, data analytics and visualization play an important role in predicting outcomes or explaining complexities. Legal forces, such as conflicts or compliance, are fueling these tools. At the business end, companies are faced with market forces like costs, customers, and competitors. This requires different apps that support efficiencies and consistency…by way of automation, not just answers. Case in point: this paper states that the global financial meltdown was the result of failures in contracts. Now if a systemic use of faulty contracts can bring down the entire global economy, it can also take down your company. One way to prevent this is by designing and automating smart contracts to the point that law becomes invisible.

Big Data is the new Electricity

Hearing the other speakers in the program talk about the impact of data on their sector made us all realize: data sits at the heart of every industry. Data powers most decisions like electricity powers most tools. Without the support of data, one feels like a kite in a storm. In the past, we could get by on software without data. One could fire up an empty word document and start drafting. Now, software platforms infused with Machine Intelligence* are connected to devices and sensors not only generate but also consume data. It means apps come pre-build with data and intelligence providing us with super powers at a push of a button: Look Ma, no drafting!

..and with great powers comes some bewilderment.

WK Big Data.044

* I prefer the term Robolaw because legal doesn’t require (even simple) AI to solve itself. Legal is 80% illogical reasoning that will be fixed by automation and 20% emotion that should be ignored by robots.

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