5 Legal and Justice Tech Predictions for 2023

From breakthroughs in space to revelations within an atom and leaps in Artificial Intelligence, 2022 was the year of big technological achievements. The same holds true with legal and justice technology and the many tools that have irreversibly changed the way law is practiced. So, where do we go from here? What more is in store for 2023? And how will it affect the legal industry, which historically has been, at its best, ‘cautious’ in its approach to legal and justice technology? A new year brings with it a fresh start and a whole host of possibilities. Here is a list of our top predictions for 2023.

#1 Drive to Upskill and Strategise

Last year’s legal and justice tech conferences and discussions with legal enterprises revealed a rise in the number of lawyers who are interested in technology and innovation and want to be a part of the transformation. With advanced products populating the market and promising higher efficiency and profitability, 2023 will see a stronger emphasis on adoption, training, and integration of legal and justice technology – rather than just onboarding new tech-based solutions, which has been where much of the attention has been over the last several years.

#2 Legal Innovation = Smarter Contracts

The possibilities presented by smart agreements and smart data, as well as the vision that contracts, when properly drafted in advance, can potentially fulfil, and manage duties on their own, may finally visualise in 2023. As laws governing electronic trade documents and digital assets alter around the world, inventors, experts, and legal practitioners will be presented with some intriguing options. Further investigations in this area alone will significantly alter the landscape for legal innovation and boost the accessibility of data needed by businesses to better their compliance rate, accelerated economic growth, and fruitfully share big data insights.

#3 AI Accelerated Search Technology

The age of Artificial Intelligence is upon us. Given that fact, the legal sector will undoubtedly see significant improvements in search precision, accuracy, and personalization in 2023, purposely driven by artificial intelligence. Using Machine Learning, search technology will deconstruct legal material and transform dense, unstructured data into precise more easily digestible forms. This will allow research and e-Discovery platforms to extract more data, metadata, and context from legal documents. Simultaneously, individual user behaviour data will be absorbed by AI to produce more tailored and specific search experiences. 2023 may be the year when attorneys start seeing search results that are exponentially quicker and more relevant.

#4 Secure Cyber Spaces

In many business communities, there is a widespread sense of lingering anxiety because it is no longer a question of ‘if’ but rather ‘when’ a cyberattack would occur. The average cost of a data breach worldwide grew 2.6% from $4.24 million USD in 2021 to $4.35 million USD in 2022 – the highest it has been in the history of IBM Security’s ‘The Cost of a Data Breach Report.’ With new tools for reporting cyber events, the administration of cyber incident response plans, and solutions that allow for safe data exchange, 2023 might just be the year when legal technology steps up to assist businesses manage cyber problems.

#5 Evolved Courts of the Future

Across the world, courts are waking up the possibilities presented by innovative technologies. Last year we noticed a growth in court technology use and courts’ forays into AI-based applications. AI is being used routinely to analyse massive amounts of legal data and help judicial officials, attorneys, and judges with day-to-day tasks. Given the rate at which experts are developing and enhancing AI-based voice and speech recognition, search capacities, translation, and generative language models, we should not be startled if in 2023 we encounter an advanced court system with judicial skills previously only seen in science fiction.

At BIGFORMULA Solutions, we believe that the future of legal technology in 2023 is optimistic. In line with drastic and dramatic technological advancements, the legal sector is expected to become more efficient and cost-effective than ever before. The question we now pose to potential clients is : Are you ready for it?

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