Growing digital nomad population signals new frontier for travel

For the longest time, there has been the widespread, and frankly incorrect, notion that travel was something that the clear majority of people could only afford in between working. For decades, people have been playing this insane but understandable game of ping pong, bouncing between working to go on holiday, and going on holiday to escape work. For a long time, many people genuinely believed that this was their only option if they wanted to travel. However, in recent years all that is changing. That misconception is being blown apart, as more and more individuals join the ever-expanding global remote workforce.

The allure of travelling never dies

Travelling is something that we all (well, most of us, anyway) love to do. There is something undeniably exhilarating about getting on a plane, or a train, or a bus, or even into a car or onto a bike, and taking off to explore the big, wide world. That sense of pure exhilaration is only intensified when you arrive in your destination, surrounded by a whole new experience, and excited to take it all in. The best part about travelling is that it awakens the adventurous wild one in us, and it makes us want to work harder so that we can have more of it. We want it all, and travelling reminds us of why we want it all so badly.

The rise of a workforce that allows the best of both worlds

Gone are the days where people had to work for their vacations, and take time off work to enjoy said vacations. While there is nothing wrong with that, this is no longer the only option – and it is quickly becoming the less popular option, at that. Remote work allows you to travel the world and work simultaneously, successfully bridging the gap and quite literally having it all, without having to sacrifice one for the other in an ongoing see-saw activity spiral. Working remotely gives you direct control over how you work and where you work, and all you need is a reliable device, your device charger, a back-up system, and a steady internet connection.

Remote work is the future workforce for the adventurous

If there is one thing that remote work has taught the world thus far, it is that this is without a doubt the future workforce for the adventurous at heart. Sure, remote work technically is branching out to become exactly that right now, but the iteration has not yet come full circle. Soon enough, the remote workforce will welcome career-driven individuals from all different backgrounds, with all different qualifications and skill sets, and all different professional goals. Whether you want to be the owner of a walking tours agency, travelling the world to expand your brand and your business model, or a writer that works for themselves, anywhere in the world, or any other manner of career pathways, the remote workforce is for you.

Could Bringing Back the HECM Saver Save the Reverse Mortgage Industry?

Seniors looking to obtain a reverse mortgage have a few different products available to help them withdraw equity from their home.

The Federal Housing Administration (FHA) offers the Home Equity Conversion Mortgage (HECM) Standard and the HECM Saver.

Both products require borrowers to be at least 62 years old to qualify and provide consumers access to their home equity in the form of a lump sum, term or tenure payments, a line of credit, or a combination of the options.

While they’re very similar, there are some important differences potential borrowers need to consider.

HECM

The HECM was released in 1989 and comprises most reverse mortgages, according to data from HUD, the Department of Housing and Urban Development.

The product sets itself apart by allowing borrowers to withdraw a significant amount of equity from their homes. To access such a large amount of equity, borrowers are required to pay higher insurance premiums to the government, which insures the loan.

To obtain a HECM Standard, borrowers must pay an initial 2% insurance premium of the maximum claim amount and an annual insurance premium of .50%.

HECM Saver

The HECM Saver was released in 2010 by the FHA to provide seniors a low-cost way of accessing the equity in their home.

While the product is still relatively new, the number of consumers choosing the HECM Saver is increasing.

Borrowers who take out a HECM Saver are required to pay an upfront mortgage insurance premium of .01% of the maximum claim amount and an annual insurance premium of 1.25%. As a result of paying less in fees, borrowers also receive less money than they would from the HECM Standard.

Earlier this year, the HECM Saver received praise from the financial planning community as a great tool to help seniors be more prepared for retirement.

“[Taking out a reverse mortgage] is going to result in a better scenario,” said John Salter, Texas Tech professor and wealth manager for Evensky & Katz Wealth Management when discussing older Americans’ retirement. “This shouldn’t be a surprise to anybody. If you can tap into the value of a home, you’re going to be better off.”

HECM Standard vs. HECM Standard

Both reverse mortgage products provide seniors a safe and secure way of accessing their home equity, but one might make more sense than the other.

The table below compares the products, fees and proceeds and how they differ. The information is based on a 72-year-old borrower who has no mortgage balance on a home valued at $300,000.

Product Rate Initial Insurance Fee Net Principal Limit
HECM Fixed Standard 4.00% $6,000 $195,817
HECM Fixed Saver 4.50% $30 $150,300
HEMC Standard Adjustable 2.74% $6,000 $192,817
HECM Saver Adjustable 2.99% $30 $159,587

Principle Limited Calculated using ARLO™ calculator

While the HECM Saver might have a higher rate, the amount of fees is significantly lower than for the HECM Standard. Since borrowers are paying less in fees, the product also provides less in proceeds than the regular HECM.

But if you’re using a reverse mortgage to eliminate monthly payments, a HECM Standard might be a great choice.

Fixed Rate Options

The Adjustable Rate Standard Program will also still be available for borrowers who need the full draw, as well as the Saver Program for the adjustable rate loans. Borrowers who are purchasing using a reverse mortgage can still do so with the Adjustable Rate program and the full draw on the Standard Program but those who want only a fixed rate after March 29th will have to bring in the extra cash to close and use the Fixed Rate Saver Program. This may affect how much house some borrowers can afford if their down payment funds are limited so the adjustable rate loan may be their best option.

At any rate, the Fixed Rate program is a relatively new loan as it was not even available for more than just the last few years. Borrowers have been closing adjustable rate reverse mortgage loans for over 25 years. Those borrowers who really want the Fixed Rate Standard Program need to know the deadline as there is no way to know if HUD will ever bring the program back or not (and what the rates would be at that time if they did). But those who are not able to close on this program should know that borrowers have been successfully closing on the adjustable rate product for some time now and while the fixed rate may have been their first choice, they do have other viable options.

Home décor industry trends

From technology that allows people to bathe in colors to minimalist furniture with rustic energy, there have been many changes in the trends of the home décor industry. While the discussion on the decrease of people interested in home ownership continues, it is evident that those who do own a home want it to look magnificent. The home décor trends have seen major changes in the past few years especially with the rise of technology in the home design industry providing even more options to consumers. For example, rather than buying simple curtains, people can now choose to use smart blinds in their homes that are not only convenient, but a great way to save energy. Additionally, millennials have also acquired different tastes in how they want their homes to look. This is clear through the rise of minimalist home décor which has currently become one of the biggest trends in the industry. The options of designing homes are not only affordable and convenient in today’s world, but also make ones home look like it is straight out of a magazine page. Either way, all these new innovations and interests in the industry allow one to choose the best design to create a comfortable and fulfilling living space.

Technology has disrupted almost every industry, including that of home décor and design. Technological trends in home décor are not just purchasing smart home gadgets, but also using technology as a means to figure out how to decorate one’s home in the first place. For example, several apps, including some with virtual technology, allow one to take pictures of their living space and use a device to fill it with different furniture and décor. Additionally, smart home technology is an ever growing trend of home décor especially as more companies focus on creating technological products with added style. For example, people can now purchase smart speakers, or smart trashcans, or integrate thermostats into one’s home to create the best living environment. Home technology can also be beneficial as it can serve many different purposes with less equipment, enhancing one of the other rising trends in home décor, minimalism. With shows such as Tidying Up with Marie Kondo, more and more individuals are creating minimalist homes. Moreover, the minimalist approach is used increasingly by millennials who are constantly traveling and hence do not require a lot of home décor in the first place. A lot of companies are using this trend and creating more options for homeowners in the minimalist space. For example, providing multi-use furniture to reduce space and increase affordability in the purchase of home décor.

Overall, many trends are changing the home décor industry, creating a wider range of cost-effective products with added convenience. Home décor today is also highly influenced by social media as more people choose to share images of their living space online, inspiring others to create similar living spaces. The home décor industry is constantly growing, as can be seen by the various companies starting to invest time and effort into it. It is interesting to see the manner in which the trends will continue to change and create new options for one to choose from to create the decorated and designed home of one’s dreams.

4 New Technologies That Will Disrupt the Legal Industry

Law is one of the world’s oldest and most well-respected professions. Its legacy extends back hundreds of years and due to the enormous amount of education, work, and dedication required to become an effective practitioner, a position at a tried-and-tested legal firm is one of modern society’s most stereotypical status symbols. But new technologies are coming – or have come already – that aim to change the world, and the legal industry will be forced to adapt. The conversation about the changes underway in the world of law is already underway, but some technologies look to be more significant than others.

Self-driving cars

Inevitably, the first industry on people’s lips when self-driving cars come up is transportation. Full-time truck drivers and package and post delivery drivers are alleged to be particularly vulnerable, but somewhat less frequently mentioned is how automated cars will affect the way traffic violations and accidents are litigated. Car accidents are a major subset of personal injury law, a broad canopy under which many lawyers make a living. It’s tempting to think that without drivers to hold accountable, there can be no lawsuits or paychecks, but that’s not necessarily true, although the landscape will change. Forward-thinking firms like Seattle’s Davis Law Group are optimistic about their ability to help their clients navigate an unfamiliar landscape, where many of the defendants will likely be larger tech companies.

DNA databases

The use of genetics in the legal system is a relatively new phenomenon; even the forensic science of fingerprinting is surprisingly recent. Non-profit groups like the Innocence Project make headlines by lobbying for the application of new DNA evidence to exonerate criminals believed to have been wrongly convicted. But the newest development is a sort of Facebook of genetic data, a growing collection of information submitted by people for ancestry tests and entertainment value that police are now accessing in order to try and incriminate family members who may be suspects in a criminal investigation.

Automation

Automation won’t replace lawyers, but it will replace a lot of the work that they – and especially paralegals and assistants – do on a regular basis. Two things are likely: First, the adoption of software that automates the more menial and mechanical aspects of legal work will become necessary for success in a competitive marketplace, and it will significantly change how legal professionals bill their hours and what kind of work they focus on. Second, the firms that truly excel will be the ones who use advanced technology creatively, to help predict odds in trial cases and parse relevant case information.

Home Assistants and the internet of things

This is a technology that’s already here, but as the biggest technology companies engage in mortal combat for custody of our personal data, the portable and in-home devices they use to collect it will become a new variable lawyers will have to contend with as they work to protect their clients’ confidentiality and manage control over their cases. The possibility that the unassuming little robot might suddenly decide to send privileged conversations to randomly-selected third parties is an unfortunate reality that tomorrow’s attorneys will have to deal with.

The global finance industry goes digital

It is no secret that the world we live in is positively shrouded in feats of technological advancement and incredible digital impact. We have quite literally created the world that we exist in, and we have done so with both brilliant clarity and a knack for understanding that lessons will be learned, and challenges will be overcome – even if they take time. No matter what, at the forefront of it all are technologies and digital innovations. And many of these innovations have arrived on the scene hand in hand with their learning curves, many of which erupt into cases of trial and error if they are not navigated carefully. Practically every industry today has had its fair share of challenges and exciting navigations, and they have all – for the most part – emerged out the other side being better and stronger for it all. The finance industry, for example, is currently embracing digitalisation in multiple ways, and it is already proving itself to be an exceptionally brighter sector because of it.

The modern consumer lives in a world that is positively immersed in and surrounded by technological innovation and rapid digitalisation. As such, they have come to expect these traits to be present in all aspects of their lives. From life at home to their financial holdings (and everything in between and surrounding), digitalisation is finding its ways to disrupt even the unlikeliest of sectors. In terms of the finance industry, the everyday experience is being taking online by the introduction of apps and websites, as well as instantaneous global transactions and even cardless cash or phone-handled payments. Even tax season is becoming easier, with some individuals even being able to do their entire return online in under an hour (some people even complete it in under thirty minutes). These are all seemingly small, but together they mark the beginning of an all-new revolution in finance. And it doesn’t stop with the everyday experience with the finance industry, either.

Let us first consider the average consumer’s experience with insurance companies, for example. Insurance companies have historically been notorious for being confusing, time-consuming, daunting, and frustrating, all at once. Now, companies are coming into active effect to bridge the gap and take the pressure of individuals wanting to look into insurance-related inquiries and concerns. Companies like Informeo are literally designed to help you get a handle on your insurance, to help you live a more financially responsible life. And now, thanks to rapid digitalisation in vivid motion, these companies are expanding their reaches exponentially via their websites. The power in digital marvels like the worldwide web is that they present an opportunity for companies and even entire industries to have a global stage for exposure, rather than a mostly (if not solely) local platform. And then there is blockchain as well.

Blockchain is essentially an encrypted virtual network of highways that allow for secure and private transference and storage of information. Initially designed in correlation with the release of cryptocurrencies, blockchain is now used in the financial industry for everything from immediate transfers, the sending and receiving of important financial documentation, and more. Because of the encrypted nature of blockchain, it makes it more difficult than ever- if not seemingly impossible – to hack or change any information being sent, as well as the direction it is being sent to and from. This is an incredible digital innovation that has changed the finance industry from the inside out, and for the better. And it is only just getting started. The finance industry is not without its lessons, but currently it seems to be filled with more exciting innovations than lessons, and that is something to celebrate.

The world we live in is one of our own design. Immersed in waves of our explorations and further advancements of technologies and digital innovations, we are the drivers of this new era we find ourselves living in, the reason it exists at all. Practically every industry has gone through its fair share of innovations and respective challenges because of the nature of this new modern world, and the finance industry is no different. Currently, the finance sector is going through one of its greatest evolutions in history: the rise to meet the digital. Widespread and rapidly paced digitalisation is the aim of the game these days, and the finance world is rising to meet the challenge, and even to exceed it. Digitising an entire industry is no easy feat. In the case of this, the finance industry, it is a process that has been ongoing for months, and is still even now. Taking facets of the financial industry online has taken time and practice, and for now it is a process that continues. The future for finance is brighter than ever – and digitalisation is to thank.

Understanding Insurtech

As far as embracing technology across industries goes, it is fair to say that the world has been overwhelmingly supportive in this endeavour. The entire modern world has faced its own form of modernisation in the form of technological impact in recent years. Each said impact has proven itself to be valuable – sometimes beyond expectation. It is the way of the modern world that technology be introduced and anchored down as a mainstream facet in disrupted industries, for the foreseeable future (and likely forever). In the finance industry, for example, technology has been introduced hard and heavy in the form of finance technology (Fintech). Technological disruption and rapid digitalisation in the finance industry has been going on for a few years now, but this is the first time we have seen giant leaps and bounds in the way of technological evolution in the industry, on such a consistent, and global, scale.

Fintech extending to encompass insurance

The finance industry has been experiencing its share of technological disruption in recent years. From the digitalisation of bank account management for consumers (think apps and websites), to the instantaneous global transfer systems now in place in many banks, and even to cardless cash and smartphone payments, technology has absolutely begun to take over the finance industry, in the form of Fintech. Currently, this is an industry that has gradually embraced the ease and efficiency of technological advancement and further innovation, and now it has expanded beyond its initial reaches to encompass insurance as well.

Insurtech as its own sector of industry

This is where Insurtech comes into play. Insurance has always historically been an intricate facet of the finance industry, and this has not changed. However, what has changed is the potential reach for consumers to be able to more adequately and responsibly handle their insurance applications, claims, and everyday uses. Now, technology has disrupted this facet of finance, effectively creating and solidifying a more secure, fast way for individuals to conduct all insurance-related tasks. It is a global movement, too. From insurance companies in New Zealand or Bali, to Calgary insurance brokers (and everywhere in between), the insurance game is being given a decidedly digital revitalisation for the ages.

The future of Insurtech and the finance industry

The finance industry has faced its fair share of trials and tribulations over the years. This is common knowledge. What many people are finding so intriguing is the sheer rapid pace all this innovation and technological proficiency has evolved at. More than anything else, Insurtech creates a seamless user experience that inspires courage, security, and trust between consumers and the parties responsible for handling insurance concerns and queries. The future of Insurtech and the finance industry is by no means set (after all, is anything truly ever set in stone?), but it is certainly looking to be an overwhelmingly positive future. If nothing else, Insurtech has taken Fintech to the next level, and in turn has forged a stronger foothold for the finance industry going forward. And that is something that matters to individuals around the world.

Internet Privacy in the Age of Facebook

Instant connectivity has transformed our lives for the better, but this comes at a perennial cost: personal privacy. Internet privacy, also known as online privacy, is the privacy and security of personal data that is published on the internet. Internet privacy is a fundamental human right today. But it is also a growing concern as traditional notions of privacy are being challenged by advancements in digital technology. Companies track online behavior for targeted advertising, governments monitor online behavior to control the citizens and cybercriminals steal data for their nefarious activities.

The common issues surrounding online privacy are tracking, surveillance and theft. Tracking refers to the tracking of online movement by websites and advertisers through cookie profiling and other techniques. Governments are conducting surveillance on the internet usage of their citizens, with the help of internet service providers, for the ostensible purpose of maintaining law and order. And almost a staggering 20 million Americans were affected by identity theft in 2017 as cybercriminals used malware and other phishing techniques to break into online accounts and steal personal information.

Internet behavior has a huge impact on personal privacy. Using the same credentials for multiple accounts can leave a person totally vulnerable to cybercrime, as access into one account can lead the cybercriminals into other accounts. Remaining logged into websites may sound convenient, but can leave the online accounts susceptible to hacking. Opening suspicious attachments and downloading malicious files is wrought with danger as these can contain malware and viruses.

Thankfully, there are ways to ensure internet privacy and security. The browser is the main program that is used for going online and securing it would be the first step to pre-empt an invasion of privacy. Using a VPN service would go a long way in protecting internet privacy as a VPN changes the IP address and protects both incoming and outgoing traffic with military-grade encryption. Constant software updating is crucial to internet security as software vulnerabilities can be easily exploited by the bad guys. An anti-virus program is a handy tool in the fight against online attacks as it keeps the digital devices free from malware. One should look out for a padlock in the web browser address window as it is an indicator of safety. A two-factor authentication can also go a long way in preventing hacking.

Some words of caution: Many social media sites and search engines may be free to use, but do carry an immense cost in terms of internet privacy. Private browsing prevents the browser from recording private information, but does not protect privacy as an individual’s online activities can still be monitored. The ISP saves and archives every online activity for posterity.

It is a fallacy to suggest that the Facebook generation is indifferent about privacy. If there is one issue that unites everyone who goes online, it is privacy. We need to do our best to protect online privacy and ensure that personal information does not fall into the wrong hands.

Overuse of computer screens may be damaging students eyes

You rely on your eyes for so much–but could your work habits be killing your vision? If you experience eyestrain, vision problems, dry eyes, headaches, fatigue, or other problems after long hours in front of a computer screen, you’re not alone. You’re also probably causing some of your own misery.

Thankfully, there’s actually a lot you can do to help give your eyes a break. It’s worth it to try a few (or all) of these ideas to see if any of these tips make an impact:

1. Take a Break

It’s simple, but easily overlooked. Many of us overwork our eyes and that’s a significant contributing factor to our vision problems.

Try to aim for the 20/20/20 rule. Take a break every twenty minutes, look at an object twenty feet away, and hold your gaze for twenty seconds.

2. Blink More Often

Believe it or not, part of the reason why your eyes may hurt is because you’re probably not blinking enough.

Blinking your eyelids lubricates your eyes with tears, restoring the moisture your eyes lose from evaporation. Keeping your eyes hydrated helps prevent excessive dryness.

To keep your eyes feeling great, try to consciously blink more often. In fact, try blinking every time you think about it.

3. Use Your Prescription

If you have prescription eyewear, you may need to wear it even when you’re on the computer. Or, wear it when you’re away from your computer and use computer glasses when you’re in front of a screen.

Your eyestrain could be caused by the fact that your eyes are having to work harder to compensate for any vision challenges you experience, such as nearsightedness, farsightedness, or other issues.

4. Use Computer Lenses

Computer lenses are designed to be worn while using digital devices such as computers, smartphones, tablets, and televisions. Since our eyes are not designed for staring at screens, they sometimes need help.

Available in a wide range of frame designs, you can get computer lenses custom-made to your individual eyewear needs, fashion tastes, and vision prescription.

5. Adjust Your Screen Settings

Depending on the device you’re using, you may also be able to make adjustments to the screen so it causes less eyestrain. For instance, you could reduce the amount of blue light emitted by your computer screen so it doesn’t interfere as much with your sleep.

Too much blue light may reduce melatonin production in the body, causing sleep to become more difficult. Thankfully, it’s usually easy to change the settings on your computer, phone, or other device. You may even set up your device to reduce blue light before bedtime or for late night work.

Protect Your Vision

With these tips, you can reduce the strain your eyes undergo during your day-to-day use of electronics. Computer use doesn’t have to damage your eyes–by taking these steps, you can improve your comfort and productivity even while relying on computers to get your work done.

Business, Finance and the Markets: Growth, Fragility and Precaution

Modern day world runs on business deals, the respective structures constructed to govern and administer business relations and business people trying to expand business markets and increase profits. In such a scenario, finance becomes one of the most important fields of business, enabling aspiring parties to make good use of their money or find access to new sources of capital to undertake bigger projects. Business financing is therefore a force to be reckoned with as it continues to govern corporate relations, determine the boundaries and constraints of global business, while also opening brand new frontiers for aspiring minds and their projects.

The world of finance has always enjoyed a close connection to the domain of computer technologies and therefore the digital age has brought nothing short of a revolution for its matters. Robinhood, the popular millennial stock trading application, is a groundbreaking tool that has made financial investments mainstream, bringing $69 million in order routing revenue in 2018, tripling its revenues of such origin in 2017. The Menlo Park, the company that owns Robinhood, currently has 6 million users and a valuation of $5.6 billion, which is impressive considering that the company has been in existence for only five years. Robinhood’s policies have been receiving criticism lately due to its heavy reliance on high-frequency traders and their contributions to the ‘dark pool’ in global finance, which has been held responsible for the large-scale market swings that “allow institutional investors to gain an upper hand over smaller retail investors.” However, skeptics of such criticism point out that the entire industry witnessed 42% increase in order-routing revenue last year, meaning that The Menlo Park and Robinhood did not step outside of the boundaries of legality with their finance business, but merely enjoyed a global trend, signaling further financial success stories for the application.

Canada houses one of the most stable economies in the world but this does not mean that the country’s economy is invulnerable to crises as evidenced by the recently emerged issue of debt delinquency and how consumer delinquencies are expected to climb even higher in 2019.  Equifax Canada points out that as the 90-day delinquency rate rose by 1.5% in 2017 to 0.18% in 2018, the mortgage rates also rose by 0.4% to 1.07% the same year, resulting in a 15% rise in bankruptcies in Canada. For Canadian citizens of ages 65 and above, the delinquency rate increased by 7.2% last year, with the number of overdue payments for such seniors being on the rise for three consecutive quarters. According to Equifax’s findings, the total consumer debt of Canadian citizens, including the mentioned mortgages, also rose to $1.91 trillion in 2018 from its previous level of $$1.82 trillion in 2017. With respect to actual figures, such an alarming reality reveals that the average non-mortgage consumer debt was $23,520, having rose by 3% in 2018. As a general statement, it can inferred that the Canadian citizens need to take notice of the situation as well as possible action to slow down such increasing rates for the sake of preserving and maintaining the Canadian lifestyle.

When it comes business and finance, there is probably no other institution in the world as determinant and powerful as the Federal Reserve Bank of America, which makes the election of the members of the institution’s Board of Directors an important issue. Quite recently, the US President Donald Trump announced that the former Republican Herman Cain would not be running for a seat on the Board, fueling speculations that the president has political plans for America’s central bank as he sees the independent nature of the institution’s governance a threat to America’s political stability. Trump has previously demanded that the Fed should lower the interest rates for the sake of American businesses, which is a direct opposition to the general attitude of American presidents regarding monetary policy. Trump’s stance on the issue has been perceived as a continuation of his isolationist economic policies, due to the fact that the president aims at increasing economic welfare and stability in America by keeping production and jobs at home. For such a purpose, Trump claims that he requires financial privileges and freedom, both of which he expects and demands from the Federal Reserve System.      

Crime tech changes global law industry

The world of law is one that is seemingly always shifting, pivoting on its gravitational axis. One of the world’s most instrumental industries of all, law is a sector that is always experiencing change on some fundamental level. Despite all this unrelenting evolution, however, it remains a certainty that the law industry is a sector that thrives on predominantly-traditional methods and models.

Only now is this beginning to change. What is responsible for the change? Not altogether surprisingly, it is technology that is at the centre of this type of innovative evolution. Technological advancement has revolutionised the entire modern world in one way or another, and we are now seeing it begin to speed up its pace, beginning to positively transform the entire legal industry from the inside out.

A traditionally-inclined industry

Law is, by nature, a traditionally-inclined field. It does not necessarily matter if you are searching for a vehicle lawyer in the wake of a car accident you were responsible for, or a judge presiding over the latest case to fall on their desk, the nature of law at its roots has always been fundamentally traditional. Historically, this has always been a data-driven industry, but the way that data was driven through the system has been fundamentally elevated in the wake of technological disruption.

One way that this is inherently obvious is in the data systems that process all the information at any given moment. Once upon a time, this was a job that had to be done manually, and so it took a lot of additional time, effort, and money, on an ongoing basis. Now, however, there are automated systems in place that make this process a whole lot easier, more efficient, and fast than ever before.

Technological disruption erupts

It is not at all uncommon for an industry to feel the weight of technological innovation and digital advancement, but there has been no industry that has felt the weight of it all quite like the legal sector. Law enforcement and the courts are now beginning to embrace technologies and explore their use in the sector, most notably the uses of tech to automate certain processes, as well as the tech used to predict and even prevent crimes in the first place.

Artificial intelligence (AI) for example, can make acutely accurate predictions based on the data collected, and this is why this particular technology is having such a dramatic effect on the legal system. This is also just one prime example of technological disruption in law.

Law field is digitally revitalised

The tech advancements in the field, powered by AI automation and machine learning, are the very foundations that have had such an astronomical effect on the legal industry. Today, the technologies that work collaboratively with traditional methods and models are the very same ideals that have transformed the legal industry on every positive level there is. Today, the legal systems the world over are more convenient, efficient, and quick than ever before, leading to a smoother ride all round.