One area of experimentation will be conveyancing, focusing on AI tools to analyse property sales packs and flag potential legal issues for review in minutes rather than hours. This would reduce delays and speed up transactions. In the Lab sandbox, the conveyancing firm which developed the tool could test it, and find ways to demonstrate to potential users the reasons why it highlights particular issues.
Announcing the project this week, deputy prime minister and Lord Chancellor David Lammy said: ‘The legal sector is a cornerstone of the UK economy, contributing over £40bn a year—yet too often it’s been held back by analogue systems simply not fit for the digital age.’
Applications for the AI Growth Labs will open later this summer for tech innovators such as lawtech firms, legal services providers and conveyancing firms.
The Council for Licensed Conveyancers, the Solicitors Regulation Authority, the Information Commissioner’s Office and the Legal Services Board will join the Lab, working with tech innovators to address regulatory issues and barriers.
Richard Orpin, chief executive of the Legal Services Board, said: ‘The AI Growth Lab is a pragmatic and timely initiative to accelerate the responsible adoption of AI in legal services.
‘By bringing regulators and industry together, the Lab can provide further clarity and confidence that legal services providers and innovators need to innovate safely and quickly, driving growth in the sector. Our research shows that consumers are open to the benefits of AI in legal services, but that trust depends on strong safeguards, transparency and accountability.
‘The Lab provides a practical way to apply these insights in real settings to support and enable safe innovation.’
