The use of artificial intelligence is having a profound impact on various industries around the world. The legal field has a history of being resistive to change, but artificial intelligence has made its way into the practice of law. Artificial intelligence can remove much of the mundane work of the legal field, freeing legal professionals to focus on the art of practicing law.
Artificial intelligence is a tool for boosting efficiency and reducing repetitive tasks. Understanding what AI can and cannot do is essential in understanding its applications in law firms. Artificial intelligence cannot replicate or replace the work done by attorneys and paraprofessionals in the implementation of legal theory or in establishing client relationships.
The role of artificial intelligence is in algorithms that simulate cognitive processes, enabling computers to complete basic tasks without direct human input. Artificial intelligence can interpret data, recognize patterns, and form basic conclusions about the data based on established parameters. AI simulates specific cognitive processes of the human mind and enables computers to complete basic job functions. When applied to algorithms, AI allows computers to interpret data, recognize patterns, and form conclusions.
How law firms are using artificial intelligence
Software programs with AI capabilities, such as Evisort, can make document management and contract review a painless process. What was once a very labor-intensive task can now be accomplished with the aid of artificial intelligence.
Contract management software has been around for some time, but artificial intelligence has significantly changed what the software can do. Evisort’s contract management software comes pre-trained in numerous functions, reducing the need for an in-depth contract review process. Evisort also acts as a powerful risk mitigation tool by identifying weak or unusual language and setting automatic alerts for approaching contractual deadlines.
AI plays a significant role in legal research and due diligence. AI levels the playing field when it comes to the process of legal research. With machine learning capable of reading a million pages of law per second, the time it takes to do legal research is significantly reduced with improved accuracy of results. Using artificial intelligence in legal research can potentially save clients thousands of dollars in billable hours, making it possible for small firms to compete with the giants of the legal industry.
Artificial intelligence is routinely being used in the discovery phase of legal proceedings. AI can confirm facts, and expedite checking background information speeding up the process of resolution. AI technology saves time and money in arbitration and litigation by automating the tedious tasks of discovery.
One of the fascinating uses for artificial intelligence in the practice of law is in predictive analysis and outcomes. AI can access a wealth of legal data to produce a reliable prediction of the most likely outcomes in legal cases. AI provides insight that helps attorneys inform their clients about the odds of each potential outcome in a case.
How artificial intelligence will continue to change the legal field
Attorneys will capitalize on AI in an ever-expanding manner in the coming years. Legal practitioners are already feeling the pressure to offer increased value to their clients. The labor force is changing, and artificial intelligence will help law firms adapt to the changes.
There has been some push back against the use of AI as people fear it will replace jobs in the legal sector. AI does replace the need for manhours spent doing tedious tasks but has the potential to create jobs that are more fulfilling and offer better pay. As artificial intelligence reduces the costs of routine legal matters such as contract management, it opens doors to expand legal services in other areas.
Some law firms have embraced AI, while others have been more reticent in its use. Moving forward, as the use of AI becomes more prevalent, firms will be forced to embrace the new technology if they hope to remain competitive. The legal field, historically, is slow to embrace change. The rate at which new technology is emerging will force those who practice law to keep up or risk being left behind. The upside is that once attorneys adapt to the use of technology to reduce the number of mundane tasks they do, they may find even more enjoyment in their positions.
AI allows independent attorneys to do the same work, for a lower price, than firms with large legal research departments. In-house counsel can use AI-enabled legal research and predictive analysis to handle more complex legal matters in-house without having to rely on outside counsel. Each of these steps will drive innovative changes across the legal field.