Sir Geoffrey Vos, Chancellor of the High Court, gave a speech on the Future of Law this week, explaining that "we are in the course of a revolution" in financial services and commercial law.
In a wide-ranging speech, four points caught our eye.
1. Talk of "the end of litigation" is overstated
There will still be commercial disputes. For example, the Chancellor disagrees with the view expressed by some that smart contracts cannot end in litigation because all of the possible consequences of their engagement are already written into their code:
"There will be some smart contracts that will end in dispute, I am sure; if only because somebody will say that they were misled or deceived outside the terms of the underlying computer code."
2. But litigation will (have to) become quicker and cheaper
Disputes will be resolved with the benefit of legal tech software that reduces the workload of litigation lawyers. For example, disclosure will be automated: the documents will be in the cloud and analysed by artificial intelligence. These kind of changes will be driven by demand: "Businesses, just like the millennials… will… cease to accept ponderous justice processes with months or years between hearings or appeals".
3. Fewer disputes of fact
An interesting prediction is that there will be fewer disputes of primary fact, because of ever increasing levels of surveillance. As the Chancellor explains "we photograph, film and record everything that happens to us and that will shortly apply as much to business discussions as anything else".
4. Technology will change the way that disputes are resolved
The Chancellor reflects on emerging machine learning that can predict the outcome of commercial disputes with high levels of accuracy. However, he also highlights the limitations of this kind of machine learning because it does not take into account human frailties such as unreasonableness, or other imperatives that can drive litigation, such as the fact that delay can sometimes be commercially valuable.
The Chancellor also emphasises the need for business lawyers to look closely at the project to introduce the online solutions court for small claims, divorces and guilty pleas because developments in smaller litigation "are bound to be the blueprint for the roll-out of online dispute resolution to more significant and high value disputes".
This is a thoughtful and interesting speech . It raises important questions, not just for the way that law and litigation will be practiced in the future, but also the way that lawyers are educated and trained. For example, the Chancellor highlights the need to develop an understanding of computer coding to be able to interpret smart contracts.
Are you prepared for the Future of Law?
With thanks to Jennifer Unwin of Ashurst for her contribution.
