Experts have dismissed concerns of artificial intelligence replacing lawyers in the near future even as technology advancements continue to bring in greater cost savings and efficiency.
While agreeing that the human element in legal procedures would remain crucial for a long time to come, panellists during a discussion at the Third Annual Arab Lawyers Forum at the ART Rotana Amwaj Islands today said Arab law firms need to quickly get up to speed with the fast-evolving technological advancements.
Thomson Reuters MENA market development lead for innovation Samer Mahfouz, Bahrain Fintech Bay chief executive Khalid Esam Saad, IBM MEA senior counsel Constanze Kuhn and UK-based Meridian West director Alastair Beddow discussed issues such as How technology is changing financial services and banking?, What are the potential risks involved?, How can robots work with humans and what are the legal implications in practice? and What type of influence can social media have on law firms and business development?
The discussion was moderated by UAE-based Al Tamimi & Company partner for financial crime Ibtissem Lassoued.
Legal Tech has recently evolved to be associated more with technology startups disrupting the practice of law by giving people access to online software that reduces or in some cases eliminates the need to consult a lawyer, or by connecting people with lawyers more efficiently through online marketplaces and lawyer-matching websites.
Read the full report in tomorrow's GDN