The writing on the wall couldn't really be clearer: the real estate world, not generally seen as being in the vanguard of change, is having to adapt to fast-moving technological advancements. Whether it's online listings, virtual reality, machine learning, drones, big data or crowdsourcing, ignoring the tsunami of innovation is just no longer an option. The way lawyers do business is already changing and at Mishcon de Reya we plan to lead the tech revolution in legal services. Last year we launched our 10 year vision to ensure that we continue to be a successful and sustainable business in the years to come. Unsurprisingly, technology is a fundamental pillar of that vision.
As a firm, we relish a challenge and regard change as an opportunity to excel. We are fully committed to being technologically transformed, automating tasks and processes where possible and using artificial intelligence and cloud technology as key elements of our everyday practice of law. Applying new technology and adapting it to suit our specific needs has already enabled us to automate aspects of our practice, so we can provide core client services more efficiently and more cost effectively.
Real estate comprises around 25% of our overall business. It really isn't overstating it to say that our aim is to completely change 'the way we do real estate'. This cultural change has already enabled us to develop a bespoke range of real estate related initiatives. Some of these, including Mishcon Maps, were originated by our real estate lawyers. Mishcon Maps is a new product that allows us to be a little cleverer with our deal know-how in that we can now visualise and map key data from every real estate transaction we have ever dealt with. This is already proving useful in maximising the benefit of knowhow gained over a series of deals.
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