The economic prize from AI won’t simply go to the countries that develop the most powerful technology. It will go to the countries where businesses have the confidence to use it, invest in it and build around it, says Sarah Sackman
I can remember when I started my legal career 20 years ago, we still received bundles of documents tied up with pink ribbons. That world has since disappeared, transformed by legal tech and the digital platforms which are reshaping the role of lawyers and the businesses and clients they serve.
Amongst the upheaval, our legal services sector built on our country’s strong commitment to the rule of law has provided the firmest of foundations to our wider economy.
Our legal services sector is a success story, contributing over £40bn annually. Law and legal professionals underpin every investment, every contract and every growing business in the UK.
English law remains perhaps Britain’s greatest export. Today, it governs 40 per cent of cross-border transactions and underpins trillions of pounds in global business. There are also huge potential benefits for ordinary citizens as they benefit from more effective courts, faster justice and new innovations such as AI mediation.
But we cannot take our pre-eminence for granted. To remain world leading requires us to be clear eyed about the potential and risk of technological adoption and having a robust future plan for what the businesses need. Supporting the legal sector is critical to our economy, our way of life, and our place in the world. That’s why I went to Singapore last week, hosted by the Singapore government, to attend Asia’s largest lawtech conference, to see the work they’re doing.
They are embracing innovation and adapting to new technologies. Three quarters of Singaporean lawyers now have access to a generative AI to research cases, cut bureaucracy and navigate complex legal issues faster.
Three quarters of Singaporean lawyers now have access to a generative AI to research cases, cut bureaucracy and navigate complex legal issues faster
I’m proud to say, the UK is also a global leader in this space. Nearly half of all European lawtech startups call the UK home. Last year, UK-founded lawtech companies secured a total investment of almost £189 million, a 35 per cent increase on the previous year.
But that position isn’t guaranteed. As AI reshapes our world, businesses will place an even greater premium on legal systems that combine innovation with predictability, and adaptability with accountability. They will value jurisdictions that use AI to reduce the administrative burden, while preserving the crucial human judgement that is at the heart of our justice system. By using this technology in the right way, with the right oversight and safeguards, we can make justice more human, not less.
That is why the government is determined to modernise our justice system and create the conditions for success. That means keeping our laws up to date to support new markets. We’re one of the first jurisdictions in the world to recognise digital assets as personal property. We’re developing AI tools to securely modernise our courts with transcription, listing and case summarisation tools help progress cases more swiftly. And we’re supporting legal services AI growth labs to enable responsible experimentation and drive innovation in lawtech.
We’re also proudly promoting English Law, and its inherent adaptability, around the world. Our English Law Promotion Panel is flying the flag to ensure we remain the jurisdiction of choice for global business.
The economic prize from AI won’t simply go to the countries that develop the most powerful technology. It will go to the countries where businesses have the confidence to use it, invest in it and build around it. The countries with firm foundations in a changing world.
Britain is leading the way.
Sarah Sackman is a justice minister