Launched: First Association in APAC to Drive The Use of Tech By Legal Professionals
Fintech 06.09.2019
A new international association was launched in Singapore yesterday (5 September) to promote the development of technology and its use by legal professionals in the region, as reported by The Straits Times.
With an aim to promote collaboration and information sharing in the legal technology sector, The Asia-Pacific Legal Innovation and Technology Association consists of over 50 legal tech organisations from 15 countries such as India, China, Vietnam and more.
It was launched by Justice Lee Seiu Kin, the Singapore Academy of Law’s legal technology cluster chair, at TechLaw.Fest (an annual conference on law and tech).
Meanwhile at the opening ceremony, Law and Home Affairs Minister K. Shanmugam encouraged lawyers to embrace technology in their work, noting that it is critical for the legal profession to understand where technology is headed.
According to the report, he noted how technology can help lawyers in their work, as well as open up new areas of legal work; by citing examples of new technology, such as an application that can identify issues that need a lawyer’s attention.
The previous decade has seen the rise of Robo-Advisors; automated platforms that help investors to allocate their capital. But how do these rising alternatives compare to the traditional methods of reading financial reports, understanding charts and indicators, and picking your own stocks and bonds?