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Seeking development of Legal Tech in the AI era and Changes in the Future Legal Market

  • Legal Theory & Practice Review
  • Abbr : LTPR
  • 2020, 8(3), pp.85-128
  • Publisher : The Korea Society for Legal Theory and Practice Inc.
  • Research Area : Social Science > Law
  • Received : July 27, 2020
  • Accepted : August 22, 2020
  • Published : August 31, 2020

Kim Seung Rae 1

1단국대학교

Candidate

ABSTRACT

The 4th Industrial Revolution is rapidly evolving with global IT giants changing our lives. They led the 4th industrial revolution by introducing various new technologies that fused the IT industry with existing industries such as IoT, autonomous driving vehicles, augmented and virtual reality, fintech, big data, healthcare, and bio, which are fused with artificial intelligence (AI). Doing. The legal service industry is also emerging as the head of the fourth industrial revolution, centered on Legaltech. The fourth industrial revolution based on intelligent information technology such as ICT, big data, and artificial intelligence is changing the paradigm of existing industries and services, and the legal services industry is no exception. The new business model based on intelligent information technology is breaking down the barriers of the traditional service industry, and Legal Tech is also rapidly growing by expanding the legal service market. Legaltech is a term referring to the newly created legal service industry through the combination of legal and technology, and is a field of the legal service industry for Fintech that combines finance and technology. can do. Initially, Legal Tech refers to the technology to provide legal services at the level of simple search of laws or precedents, but Legal Tech in the so-called 4th Industrial Revolution era collectively refers to all new types of legal services that utilize more advanced information and communication technologies. The meaning has been expanded. In the field of legal services, the introduction of technology has been delayed relatively compared to other knowledge service industries, but as ICT technologies such as big data and artificial intelligence have recently developed, the convergence of legal services and technologies is accelerating and creating new added value. On the supply side, increasing the burden of work by lawyers and intensifying competition within the industry, and on the demand side, expanding demand for legal services by the general public is driving industrial growth. With the growth of Legal Tech, it is expected to increase the efficiency of legal services, improve the quality of legal services, and improve the customer experience. In this paper, the current age and trend of the AI ​​era, Legal Tech, Legal Tech industry, and future laws by Legal Tech We want to seek market changes.

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