Future of Law and Why Lawyers May Save Humanity

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Question: Will the future of law be determined by humans or algorithms?

More: https://www.legalcomplex.com/blog/2016/01/27/the-future-of-law-and-why-lawyers-may-save-humanity/

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Future of Law and Why Lawyers May Save Humanity

  1. 1. The Future of Law
  2. 2. And if Robots replace Law..
  3. 3. What will happen?
  4. 4. From Courts to Code.. From Prediction to Prescription.. From Advice to Algorithm.. ..we will be going
  5. 5. - From Courts to Code - A Case Study of The Netherlands
  6. 6. In 2014, there were 1.3 million cases A decline from 1.7 mln in 2009 Source: cbs.nl 0 425,000 850,000 1,275,000 1,700,000 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
  7. 7. ..most were Civil disputes 920,700 (70%) cases in 2014 Source: cbs.nl Admin Criminal Civil
  8. 8. ..caused mostly by faulty contracts or missing contracts in cases like divorce or bankruptcy Source: rechtspraak.nl Divorce 55% Contract 6% International 1% Corporate 7% Intellectual Property 2% Bankruptcy 14% Due Process 3% Labor 10% Procurement 2%
  9. 9. ..if over 70% of conflicts stem from contracts Or 35% due to no formal agreements
  10. 10. ..then maybe we should make contracts smarter Or make it easier to settle disagreements
  11. 11. Let’s take Intellectual Property.. Intellectual Property 2%
  12. 12. Smart music contracts using Ethereum (Blockchain)
  13. 13. ..or protect copyright
  14. 14. ..and your Free Speech
  15. 15. all powered by Blockchain
  16. 16. ..and why it’s so popular with Legal
  17. 17. We could also settle our disputes online
  18. 18. ..with Online Dispute Resolution (ODR) UK Online Dispute Resolution Advisory Group, February 2015
  19. 19. ..and crowd-source a ‘Jury’ in a civil law system UK Online Dispute Resolution Advisory Group, February 2015
  20. 20. ..to resolve even the highly emotional ones Divorce 55%
  21. 21. ..and save up to half a million with DIY Divorce
  22. 22. - From Prediction to Prescription -
  23. 23. Prescriptive Analytics is considered bleeding edge.. Outsell CEO Topics Data Business Fundamentals 24-nov-2015, p.9
  24. 24. …but Legal is already there Outsell CEO Topics Data Business Fundamentals 24-nov-2015, p.10
  25. 25. - From Advice to Algorithm -
  26. 26. Back to our 920,700 Civil disputes and to the revelation Source: cbs.nl Civil
  27. 27. Only 9,867 (1.07%) were published in 2014 what if they all were? *Source: rechtspraak.nl
  28. 28. 7,428 (75%) of the 9867 published cases had no category or couldn’t properly be identified and tagged *Source: rechtspraak.nl 0 2000 4000 6000 8000 Procurement Labor DueProcess Eurpoean Property Bankruptcy IntellectualProperty International Competition Corporate Divorce Contract Undefined
  29. 29. Leaving 99,73% of cases unusable for analytics.. without the proper algorithm to tag them Civil Cases 2014 2,472 918,228
  30. 30. ..equal to 15 million civil cases over 18 years 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Source: cbs.nl
  31. 31. ..enter Machine Learning
  32. 32. and the Players..
  33. 33. Well, actually.. Versionone.vc
  34. 34. Not yet in the Legal Industry Versionone.vc
  35. 35. Not in every sector, definitely not in Legal Versionone.vc
  36. 36. In the Future, every advice will be based on analytics analytics will be generated by data data will be define by algorithms and the most accurate algorithms wins
  37. 37. ..and who will create these algorithms?
  38. 38. Legal Professionals
  39. 39. because if they don’t, we’re doomed 😢
  40. 40. www.Legalcomplex.com/blog

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