Artificial Intelligence in the Legal Industry
As you witness Artificial Intelligence influence a variety of occupations, you may wonder what the future holds for the legal industry. Earlier this year, Law Technology Today discussed the controversial topic of AI and how law firms can put it to use.
You may be wondering - What exactly is Artificial Intelligence? According to Law Technology Today, “AI simulates certain 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.”
Not everyone is prepared to embrace this powerful technology, but the potential to benefit from it is high enough that more and more law firms are considering integrating it into their day-to-day operations. “As it pertains to law, AI offers multiple benefits, including convenience, freedom from mundane work, and more time for other aspects of the job.”
Law Technology Today lists 3 ways that law firms can use AI:
1. Automate legal research and due diligence
2. Review documents and contracts
3. Predict legal outcomes
For more in depth descriptions of these three examples, check out lawtechnologytoday.org/2019/02/three-ways-law-firms-can-use-artificial-intelligence/.