  We comparatively analyze the flavor changing neutral current process of the
$\Lambda_b \rightarrow \Lambda \ell^+ \ell^-$ in the standard model as well as
topcolor-assisted technicolor model using the form factors calculated via light
cone QCD sum rules in full theory. In particular, we calculate the decay width,
branching ratio and lepton forward-backward asymmetry related to this decay
channel. We compare the results of the topcolor-assisted technicolor model with
those of the standard model and debate how the results of the topcolor-assisted
technicolor model depart from the standard model predictions. We also compare
our results on the differential branching ratio with recent experimental data
provided by CDF and LHCb Collaborations.
