Employing over 338,000 people, the legal sector is constantly developing new client support and innovation roles as well as alternative business structures to meet changing client needs. The UK legal sector is also using technology to provide tailored services to global businesses.
Over £61 million
invested in lawtech in 2019
In 2019, over £61 million was invested in lawtech, compared to just £2.5million in 2016. Law firms are heavily invested in the sector, with some launching incubator tech hubs and others partnering with software developers to create custom products.
The Ministry of Justice has identified lawtech as a strategic opportunity to build on the UK’s competitive advantage in the legal and tech sectors. It is investing £2 million in projects for the ‘digital transformation of the UK legal sector’, which is being led by Tech Nation through LawtechUK.
There is also tremendous growth in lawtech start-ups, with the UK hosting almost half of those headquartered in the EU. The end effect is a legal services offering that is inherently more competitive because it is transparent, efficient and client centric.
This widespread development has put UK legal services at the cutting-edge of innovation. Lawtech attracts top talent in new roles such as data science and analytics, as well as knowledge management and information technology. This brings with it new perspectives and new ways of working. It also drives the advancement of infrastructure, improving productivity, resilience and security.
Lawtech enables businesses to access the advice they need to compete globally. In doing so, it builds a collaborative environment and helps the UK to be fit for the future.