As more legal professionals realize the importance of leveraging artificial intelligence in their daily routines, a startup funded by The Hong Kong Polytechnic University has introduced a series of AI-powered innovations for cross-boundary legal and compliance services.
"Many people see legal services as expensive, but artificial intelligence can help reduce the costs with relatively high accuracy," said Lu Haitan, a professor at PolyU and founder of Wisely Digital Technology -- Hong Kong’s first innovative tech firm to apply legal and compliance large mode intelligent agents in the special administrative region and on the Chinese mainland.
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"Law firms can use our products to generate a listing application document in one minute. They only need to review those documents, which could help them reduce costs and get more clients," he said.
Lu said his team attaches great importance to Hong Kong’s status as an international financial hub and the only city in China applying the common law system.
"Many Chinese mainland companies choose Hong Kong as the stepping stone to tapping global markets. This is useful when they enter markets in various countries and regions, like those involved in the Belt and Road Initiative," he said.
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Christopher Chao Yu-hang, PolyU’s vice-president (research and innovation) and director of the Policy Research Centre for Innovation and Technology, said: "With the assistance of technology, Hong Kong has the potential to play a larger role in promoting cross-boundary cooperation and legal technology innovation".
The institution has been exploring new pathways for integrating AI and law by leveraging the advantages of institutional innovation in the Guangdong-Hong Kong-Macao Greater Bay Area, and striving to set new paradigms for reconstructing legal services.
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At the conference, Liu Chunhua, director-general of the Legal Affairs Department of the Liaison Office of the Central People’s Government in the HKSAR, said Hong Kong should adapt itself to upgraded legal technology.
The SAR, in particular, should capitalize on the advantages of the common law system to meet the nation’s needs.
