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.
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