Amanda Harriss, Partner at Harriss Wagner, recently shared her insights on the future of Property law at Macquarie Bank’s ‘Property Law - Practice of the Future’ forum held in Brisbane on 8 August 2023.

 

Hosted and facilitated by Matt Bolle, National Segment Head – Legal & Insolvency at Macquarie Bank, the forum’s expert panel also included Karen Olsen, General Manager at Pexa and Kevin Pai, Director at Opex, who provided their perspectives on where Property law will be in the future.

 

The forum was attended by a group of Property lawyers from invited law firms across Brisbane.

The theme of the forum looked through the lens of the client experience and the employee experience. The speakers explored what law practices have achieved over the past few years and what requires new innovations and interventions to increase process efficiencies in the future.

 

Amanda highlighted more automation of processes is being introduced into business systems, along with B2B (business to business) integration where high-volume transactions are at play for portfolio management. Amanda also highlighted in addition to the success of chatbots introduced to aid B2B communications, the use of AI (artificial intelligence) for first drafts of legal correspondence is in its infancy and is presenting encouraging results. Amanda mentioned machine learning capabilities embedded in OCR scanning solutions to capture extended matter information more cost effectively continues to grow to support Property developments, leasing and conveyancing.

 

Amanda also mentioned for law firms that have been slow to enhance their systems, the avenue to create ‘stickiness’ between the parties involved in Property transactions is become more evident.

 

The forum was well received as broad perspectives were teased out during the discussions.