Artificial Intelligence (AI) is essentially where technology is being used to mimic human behaviour and thought processes.
In recent years we’ve seen an increased number of legal suppliers offering automated services, powered by this type of technology, designed to cut down the time spent on areas of the conveyancing process.
Since 2020 electronic ID providers have been at the forefront of change for client onboarding, providing ID and source of funds using AI to scan biometric data and extract information from the client’s ID. The use of electronic ID has been widely praised and endorsed by the industry with many feeling reassured that the technology can help flag fraudulent ID where a person might not.
The future of efficient and profitable conveyancing relies on firms embracing technology and automation. Utilising technology can significantly reduce the time spent on each matter, speeding up transaction timelines and giving more capacity to increase caseloads.
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