Recent technological advancements and artificial intelligence (AI) has brought about a seismic shift to how the legal sector operates. AI technology has made the transfer of land registration process much faster and cheaper with nearly 90% of land now being registered. AI has the potential to greatly improve the process of transferring title in England and Wales. As technology advances, the legal industry is eager to take advantage of newer and faster methods of carrying out tasks.
Solicitors work with large sets of data to transfer titles and AI could make the job easier by reducing the time needed to complete administrative tasks. Speedier transactions and fewer mistakes and delays should result in fewer complaints from customers. AI could revolutionize the way titles are transferred, however, the Law Commmissions or law firms haven’t pushed for radical differences to the current process.
AI technology can reduce the burden of cumbersome tasks on lawyers by automating basic parts of a lawyer’s work which would significantly boost efficiency in the workplace. Of course, this would require staff to be trained in digital literacy for AI usage, however, training would by far outweigh the cost efficiency and faster completion times AI could bring. Residential Conveyancing constitutes of 25% of all complaints to the Legal Ombudsman and most typically due to failure or delays in progress. AI could play an important role in reducing such mistakes and alleviating the pressure of speed.
It is worth noting that the UK government plans to run on a pro-innovation and flexible approach towards AI regulations and the SRA are supportive of AI growth. Labour leader Sir Keir Starmer has indicated that the Labour party will also be supportive for researching and promoting artificial intelligence.
Overall, AI is set to have an impact in the transfer of title process as more mistakes are minimised and the speed of transactions is increased. This may result in fewer complaints and greater productivity from employees. However, a radical change to the current system is unlikely due to potential complications and cost associated with its implementation. Finally, AI must always be considered in the context of well-thought out regulatory environments to ensure that its full potential can be taken advantage of.
