Most Awaited Legal Tech Revolution

It’s no secret that over the past ten years, India’s financial landscape has undergone a significant digital transformation. Innovations like mobile banking and UPI have significantly expanded financial accessibility, bringing services to even the most remote corners of the country and promoting inclusion for traditionally underserved communities. The rise of advanced data analytics has engendered an era of personalized finance, enabling customized investment strategies and tailored products that elevate user experiences. Interestingly, decentralized finance (DeFi) is also gaining traction as a credible alternative to traditional systems.

Leveraging big data and predictive analytics, financial institutions now gain deeper insights into customer behavior, optimize risk evaluation, and drive business growth.

However, this comes at the cost of additional challenges including more stringent compliance requirement. In the aftermath, legal teams are more important than ever before and their hands are full. The gigantic technology leaps like Agentic AI couldn’t come at a better time. Thomson Reuters, a global content and technology company, recently unveiled its Agentic AI system, CoCounsel, for tax, audit, and accounting professionals. According to the company, this Agentic AI system is “refined by legal and tax, audit, and accounting experts to reason in alignment with professional standards and best practices while ensuring that human expertise remains in the loop to guide judgment, validate outputs, and make final decisions.” It will be interesting to see the evolution of Agentic AI systems in the near future. This special yearly issue of CEO Insights is dedicated to the legal counsel in the financial industry. Do let us know your thoughts.