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. The Future of Law
- 2. And if Robots replace Law..
- 4. From Courts to Code.. From Prediction to Prescription.. From Advice to Algorithm.. ..we will be going
- 5. - From Courts to Code - A Case Study of The Netherlands
- 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. ..most were Civil disputes 920,700 (70%) cases in 2014 Source: cbs.nl Admin Criminal Civil
- 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. ..if over 70% of conflicts stem from contracts Or 35% due to no formal agreements
- 10. ..then maybe we should make contracts smarter Or make it easier to settle disagreements
- 11. Let’s take Intellectual Property.. Intellectual Property 2%
- 12. Smart music contracts using Ethereum (Blockchain)
- 17. ..and your Free Speech
- 19. all powered by Blockchain
- 20. ..and why it’s so popular with Legal
- 21. We could also settle our disputes online
- 22. ..with Online Dispute Resolution (ODR) UK Online Dispute Resolution Advisory Group, February 2015
- 23. ..and crowd-source a ‘Jury’ in a civil law system UK Online Dispute Resolution Advisory Group, February 2015
- 24. ..to resolve even the highly emotional ones Divorce 55%
- 26. ..and save up to half a million with DIY Divorce
- 27. - From Prediction to Prescription -
- 28. Prescriptive Analytics is considered bleeding edge.. Outsell CEO Topics Data Business Fundamentals 24-nov-2015, p.9
- 29. …but Legal is already there Outsell CEO Topics Data Business Fundamentals 24-nov-2015, p.10
- 30. - From Advice to Algorithm -
- 31. Back to our 920,700 Civil disputes and to the revelation Source: cbs.nl Civil
- 32. Only 9,867 (1.07%) were published in 2014 what if they all were? *Source: rechtspraak.nl
- 33. 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
- 34. Leaving 99,73% of cases unusable for analytics.. without the proper algorithm to tag them Civil Cases 2014 2,472 918,228
- 35. ..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
- 39. Not yet in the Legal Industry Versionone.vc
- 40. Not in every sector, definitely not in Legal Versionone.vc
- 41. 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
- 42. ..and who will create these algorithms?
- 44. because if they don’t, we’re doomed 😢