Mr. Veatch explains to lessors the benefits of embracing this new technology to remain competitive, and discusses such recent innovations as:
- The new breed of data-driven smart contracts with contract terms stored on the cloud,
- Software applications for the delivery of legal advice based on cloud-stored knowledge, and
- New opportunities to collect data, creating an extremely valuable asset in the process.
The appendix to the piece further offers a primer on logic, both traditional and the Boolean lattice, to illustrate how leasing attorneys may be performing their jobs in the future.
“The value proposition is significant; we are at the beginning of a major technological upgrade,” says Mr. Veatch. “AI is creating new opportunities and efficiencies in document origination and portfolio management, including compliance, reporting, M&A diligence, litigation diligence, transfer, monetization, and securitization.”
The article is featured in the Spring 2018 edition of the Journal of Equipment Lease Financing, a peer-reviewed journal published by the Equipment Leasing and Finance Foundation.
Please click here for more information and to download a copy.
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