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Law firm? Legal process too long? AI can Transform law firms to become agile and of course, faster!
Feb 24
2020

Law firm? Legal process too long? AI can Transform law firms to become agile and of course, faster!

Law firm? Legal process too long? AI can Transform law firms to become agile and of course, faster!

Nowadays, we witness great leaps in Artificial Intelligence technology. These new breakthroughs have entered our lives and offer new solutions to different professional sectors. Even in professions that at first sound surprising, machine learning is bringing new revolutionary practices. One of those sectors that can benefit from the digital transformation is the legal sector.

Artificial Intelligence is responsible for the addition of speed and simplicity to the demanding and complex legal processes. By assigning the simpler tasks to an AI, the legal professionals can focus on the most challenging parts of the job, such as consulting and appealing to the court.

Let us check in more detail, how AI and ML can be beneficial to your law firm:

01. Litigation Prediction Analytics

Where Artificial Intelligence is exceptionally capable is analyzing data. This capability will certainly bring changes to the legal sector. Machine learning can use all the available data, in order to analyze the existing cases and predict the outcome. This will prove remarkably useful to the legal professionals, as they can form their litigation strategy beforehand. Moreover, this type of AI will make the negotiation process faster and more agile, decreasing the number of cases that actually go to court. In the end, lawyers will be in a position to know what is best for their clients before taking any action.

02. Help in Legal Research and Due Diligence

Another taxing and time-consuming task of the legal profession is the legal research that is required for the preparation of the case. This is a task that an AI expert can take over and simplify it. An Artificial Intelligence program can go through thousands of legal pages within mere seconds and bring back to the lawyer only the relevant ones for the current case. This will prove exceptionally useful to cases that are another state’s jurisdiction, where the laws might be completely different.

On the same note, Artificial Intelligence can help the lawyer uncover all the background information needed, while keeping due diligence. So, the need for hours spent fact checking will be eliminated, as the machine will it over.

03. Legal Document Assembly

An additional time-consuming task that every lawyer faces is the assembly of the required legal documents. From simple forms that the clients must fill in, to more advanced documents that the legal professionals have to gather, machine learning is able to simplify the process. Ultimately, document automation will let lawyer focus on consulting.

04. Contract Management and Review

A big part of the digital transformation of a legal company can be found in the contract management and review. Artificial Intelligence can go through the contracts and identify all the dangerous or unfulfilled clauses. This type of program can help the lawyer notice the potential future problems by highlighting everything that seems out of place. As the technology is progressing, machine learning might even be in the position to compose the whole contract on its own.

Artificial Intelligence is able to bring revolution in the processes of the legal sector, adding clever solutions that will make the whole business more agile. The future breakthroughs will unlock even more changes that the legal professionals would benefit from.

Source Link: https://www.linkedin.com/pulse/law-firm-legal-process-too-long-ai-can-transform-firms-ajay-ray/
 

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