Legal AI: Can Artificial Intelligence and Law Mix?
Artificial intelligence has trickled into almost every aspect of our lives – and the legal profession is no exception. One of the most substantial benefits of AI technological advancements in law is the convenience that it creates for lawyers and law firms. By using a machine to augment one’s abilities and complete labor-intensive tasks, AI technology frees a lawyer from mundane tasks. It also empowers them to focus on analysis, counseling, and advocacy.
However, AI worries some attorneys due to the rising concern regarding it may one day render lawyers unnecessary. On the contrary, AI has unique benefits when implemented in the legal field. Additionally, a person must understand how the myth of the demise of lawyers arose initially.
The Unique Benefits AI In Law
Taking advantage of e-discovery. This is the process in which electronic data is mined, located, searched, and indexed with the intent of using it as evidence in a legal case. With the help of artificial intelligence, e-discovery will expand. While the first generation of AI granted lawyers with the ability to find data via keywords, the future generation of artificial intelligence will assist with deleting duplicate documents, searching documents for context instead of blanket keywords, and launching predictive coding.
Reducing costs for professionals. Artificial intelligence can reduce litigation costs with technology that enables lawyers to fetch data more efficiently. This also translates to a lower cost for the client. Instead of proofing documents, the lawyers send them to artificial intelligence software, saving thousands of man-hours in the long run.
Contract management. A professional lawyer helps clients before and during legal disputes and proceedings. Part of the process often entails preparation to simplify the litigation process for the laymen. However, contract management and storage is often daunting. With the aid of artificial intelligence, lawyers will have access to pertinent contract information on a whim. Artificial intelligence can automate data entry, initiate the setup of the contract management system, and support the easy review of contracts.
What Does The Future Look Like?
Artificial intelligence is not going to replace lawyers. As technology threatens jobs by optimizing performance, skepticism and fear-mongering will continue. Artificial intelligence, instead, is going to act as an enhancement for lawyers. When deployed, artificial intelligence will simplify the automation process while ensuring that local mandates and laws are followed. This empowers law firms to be able to serve more clients at any given time.
The future of artificial intelligence will most likely look like an open-source, access-to-justice network to help individuals connect with resources and lawyers. After all, a direct pipeline to resources will simplify the bureaucracy of legal counsel.
The accuracy of AI legal software rests at about 94 percent. Law firms that utilize artificial intelligence will have the capability to serve corporations. Thankfully, the masses do not need to jump through hoops to receive the same type of treatment.
To learn more about how AI-powered lawyers can assist you, contact us.