by Avaneesh Marwaha, July 13, 2017 issue of Law and Technology Today
Have you heard the buzz? Artificial intelligence is taking the legal world by storm—and lawyers are embracing the change, despite their traditional resistance to technology.
In today’s world, data is growing explosively. While that massive store of data contains correspondingly voluminous and useful information—especially for the practice of law—it also takes massive time to analyze. And then there’s the monotony, boredom, and frustration felt by humans who are trying to plow through a Sisyphean task, and the ever-increasing need for speed in response to client, court, and regulatory agency demands. Together, these challenges add up to a seemingly insurmountable obstacle to maintaining a smart, functional legal practice—at least for mere mortals who occasionally have to stop to eat and sleep.
Thankfully, computers are evolving just as quickly as the data boom, and they’re here to save us from ourselves. Artificial intelligence, or AI, refers to computer software and systems that don’t just do tasks they’ve been programmed for in advance—they actually learn as they go, improving their performance through feedback. These programs can quickly learn to complete data-intensive tasks that were previously relegated to bored and weary humans. By recognizing patterns in the relationships between words or data points, computers learn how to identify relevant information, recognize mistakes, and spot inconsistencies—all faster, and usually better, than humans do.
What does all this mean for lawyers? The primary areas where AI is being applied in the law, so far, include the following broad categories: …………………………….Read More
While it is often assumed that legal AI systems are only for very large law firms doing huge deals and with equally huge financial and tech resources, the reality is very different. In fact, AI is …
by: Gary Fiebert, Partner, Smock Law Firm Consultants
You cannot pick up a copy of any business or law related publication (either in print or on your laptop) that does not contain one or more articles espousing the use of digitization applications to enhance productivity and profitability. As law firms seek to play catch-up to their clients and, at the same time, improve their own profitability, they are seeking more and more ways to streamline their internal operations and the external practice of law. Law firms are looking towards enhancing their operational work flows read the full article here….
Firms are recognising that failure to invest in technology will hinder ability to compete in today’s legal market
Its traditional aversion to risk has meant the legal profession has not been in the vanguard of new technology. But it is seen as ripe for disruption — a view that is based not least on pressure from tech-savvy corporate clients questioning the size of their legal bills and wanting to reduce risk. Read the Full Article