The legal market is not a zero-sum game. New technologies will open the door to new opportunities for everyone and make the law more accessible to the average person to an unprecedented degree.
Blockchains, advanced algorithms, artificial intelligence, and other emerging technologies will effect a paradigm shift in the way the law is applied and how lawyers interact with their clients. Indeed, they already have had an immense effect through the development of software for legal research, eDiscovery, eGovernance, contract analysis and assembly, secure document storage, and practice management.
This is just the beginning, however. The possible applications for these technologies is virtually endless. Lawyers will be freed from administrative work and the grind of mechanically drafting documents, and they will be able to leverage their entire faculties to ensuring the best legal product for their clients and expanding quality access to the law. In fact, the widespread implementation of legal tech even has the potential to redefine what we consider “the law” to be in the future.
In short, legal tech will democratize the law by making the administration of justice
more affordable, more reliable, and more impartial than it has ever been before!