The LegalTech Ecosystem in Wales

The Solicitors Regulation Authority (SRA) has been particularly active in supporting engagement with legal technology and addressing regulatory challenges. Legal technology and innovation were identified as one of the core objectives of the 2020-2023 SRA Corporate Strategy 91 and remain a key priority in its draft strategy for 2023-2026. 92 The regulator also appointed in 2020 an Executive Director for Strategy and Innovation with experience in the fast-growing financial sector 93 and an experienced Head of Technology. 94 SRA Innovate, in addition to providing access to guidance and one-to-one support to technology firms and law firms 95 , publishes the Lawtech Insight newsletter, organises events in England and Wales, and participates in a number of initiatives, including collaborations with universities, support for LawTech UK sandboxes and more. 96 The SRA has commissioned research into “Innovation and technology in the legal sector 97 ”, as well as into the attitudes of the public and solicitors towards technology in legal services 98 (with the Legal Services Board), and has partnered with universities and local authorities to assess the role of technology in access to justice. 99 The Legal Services Board LSB has also commissioned research, together with LawTech UK, on legal technology and its impact on SMEs 100 , outlined priorities for technological innovation in law 101 , published a collection of articles on “Perspectives on LawTech and Regulation” and the “Talking Tech” podcasts series dedicated to technology and regulation. 102 The Bar Standards Board has supported the LawTech UK sandboxes 103 , collected information on use of technology and perceived barriers and risks via the Regulatory Return 104 , and is currently commissioning further research into “Technology and Innovation at the Bar 105 ”. 91 Solicitors Regulation Authority, “SRA Corporate Strategy 2020 to 2023” (20 March 2020), available at https://www.sra.org.uk/sra/corporate-strategy/. 92 Solicitors Regulation Authority, “Open Consultation” (10 May 2023), available at https://www.sra.org.uk/sra/consultations/consultation-listing/corporate-strategy-2023-26/. 93 Solicitors Regulation Authority, “SRA appoints Executive Director Strategy and Innovation” (3 February 2020), available at https://www.sra.org.uk/sra/news/tracy-vegro-exec-director/. 94 Legalex, “Ben Wagenaar”, available at https://www.legalex.co.uk/speakers/ben-wagenaar. 95 Solicitors Regulation Authority, “What is our offer?” (July 2021), available at https://www.sra.org.uk/solicitors/resources/sra- innovate/what-is-our-offer/. 96 Solicitors Regulation Authority, “Innovate Projects” (December 2022), available at https://www.sra.org.uk/solicitors/resources/sra-innovate/innovate-projects/. 97 Solicitors Regulation Authority, “Innovation and technology in legal services” (January 2022), available at https://www.sra.org.uk/home/hot-topics/innovation-technology-legal-services/. 98 Legal Services Board, “New research reveals the appetite for lawtech among the public and legal professionals” (31 May 2022), available at https://legalservicesboard.org.uk/news/new-research-reveals-the-appetite-for-lawtech-among-the-public-and-legal- professionals. 99 Solicitors Regulation Authority, “Further fund award is an opportunity to connect innovative services with those who need legal help” (16 September 2021), available at https://www.sra.org.uk/sra/news/press/2021-press-releases/regulators-pioneer- fund-2021/. 100 Legal Services Board, Qualitative research into SMEs’ legal needs and adoption of lawtech (October 2021), available at https://legalservicesboard.org.uk/wp-content/uploads/2021/10/Lawtech-and-SMEs-report-October-2021.pdf. 101 Legal Services Board, Striking the balance: how legal services regulation can foster responsible technological innovation (April 2021), available at https://legalservicesboard.org.uk/wp-content/uploads/2021/04/Striking_the_Balance_FINAL_for_web.pdf. 102 Legal Services Board, “Talking tech podcasts”, available at https://legalservicesboard.org.uk/our-work/ongoing- work/technology-and-innovation/developing-the-next-phase-of-our-work-on-technology-and-innovation/talking-tech- podcasts. 103 Bar Standards Board, progress update for Lord Evans, available at https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/956810/AI_survey_responses_ updated.pdf. 104 Ibid. 105 Bar Standards Board, “Action plan – Transformational change”, available at https://www.barstandardsboard.org.uk/uploads/assets/914f0b5e-fd73-40ab-906a69804631ac2f/LSB-action-plan-final.pdf.

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