How the next generation of property search legaltech is driving law firm performance
AI and automation are becoming ubiquitous tech enablers in almost every industry, but the legal sector has justifiably proceeded with caution to date. The barriers to entry have included insufficient tech know-how to implement them, firms playing catch up on digital transformation, lack of buy-in and, of course, the need to mitigate risk.
When we surveyed commercial real estate law professionals in 2021, only 29% were using AI and automation in parts of the business; 33% said they were reviewing it for the longer term. By now, many more are making progress, but questions remain about how and exactly to what extent these enabling technologies can add meaningful value.
At SearchFlow, we have focused our latest product innovation efforts on applying AI to search and in doing so, have brought to market the first of a series of products that will drive efficiency and speed in the transaction process, helping elevate overall business performance.
Title Data Service and Interpreted Search unlock deeper insights from search data on single titles and entire portfolios and present these instantaneously to property lawyers, equipping them with full and instant sight of burdens and benefits, and environmental risk factors at the very start of a transaction. As a result, they are empowered to provide more accurate pricing and allocate team resources more efficiently.
Speed to value
With less manual admin and assessment to deal with, law firms can win back time that can be spent on client relationships and focussing on the bigger picture, thus maximising billable hours.
By harnessing the power of AI to power and enhance search, products like Title Data Service and Interpreted Search mitigate risk by reducing the need for repetitive manual tasks that are prone to human error. We’ve enhanced the product with further due diligence measures such as time-stamped data.
All of these value points make the road to AI adoption smoother, more accessible and assured for property law firms, when they move forward with the next generation of search products. In our latest guide, Bridging the Gap: Advancing legaltech in the next generation.
For conveyancing searches, we set out the business case for AI-enhanced search and share stories from law firms that have taken that step – and report near-immediate business benefits across the board.
Download the guide today to learn more and about how the next generation of search products can elevate your firm’s performance, fast.
For more information, please get in touch here.
This article was submitted to be published by Landmark Information as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.