LawtechUK: Regulatory risks of AI “inhibiting law firm adoption” – Legal Futures
Hesitation about adopting artificial intelligence (AI) by law firms nervous of the risks presented by a regulatory grey area is causing a bottleneck that needs to be cleared, according to LawtechUK.
Although the Solicitors Regulation Authority has advised it was unlikely to take regulatory action in cases of errors caused by machine learning (ML) as long as firms have done what they can to avoid them, it was unclear exactly what steps must be taken, the body said.
LawtechUK has published a consultation paper seeking to work out exactly what concerns regulated law firms had about using the technology that might be inhibiting them.
It said: “A perceived lack of clarity of certain rules is… constraining the deployment and development of ML by authorised firms and individuals.”
It identified two particular areas that needed clarifying: how law firms can meet their professional duty of confidentiality to train and build ML systems cost effectively and how professional indemnity…
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