Artificial intelligence (AI) is revolutionizing the legal industry. Lawyers are embracing AI tools despite their reputation for avoiding new technology.
In today’s data-driven world, the volume of information is exploding. This data holds useful insights for legal practices, but analyzing it takes huge amounts of time. Performing repetitive tasks manually also leads to boredom, frustration, and inability to meet urgent client and court demands. AI offers a solution to these challenges.
AI refers to software and systems that learn from experience, without explicit programming. AI tools recognize patterns and relationships in data to identify important information, errors, and inconsistencies – faster and more accurately than humans.
Here are the main AI applications in law currently:
- Technology-assisted review (TAR) to find relevant information in documents.
- Automated legal research using databases of case law and statutes.
- Analysis of contracts and documents.
- Proofreading, correcting errors, and organizing documents.
These AI applications provide 7 key benefits for law firms:
- Saves Time
AI analyzes more information much faster than humans. For instance, an AI proofreader fixed all errors found by a lawyer in 1 minute versus 1 hour manually. AI quickly performs tasks like discovery, research, and contract review.
- Allows Early Risk Assessment
TAR tools like predictive coding enable real-time review. Lawyers can spot potential risks early, advise clients, and prevent legal issues. AI also helps identify relevant data to protect when litigation is threatened.
- Produces Higher Quality Work
AI doesn’t get tired or distracted, eliminating errors in documents. It also ensures consistent language and identifies missing clauses across documents.
- Improves Structure
Comparing documents, AI uncovers gaps in legal analysis and contracts. It enhances overall structure and logical flow.
- Enhances Analysis and Finds Persuasive Precedents
By automating tedious tasks, AI provides time for creative legal analysis. It also finds precedents to build the strongest case strategy.
- Reduces Stress
AI handles boring document review and research. This minimizes frustration and stress. Lawyers can focus on high-value creative analysis.
- Improves Client Relations
With more time freed up, lawyers can better communicate with and counsel clients. AI consistency and accuracy also increase client satisfaction.
These benefits create positive momentum at law firms. As lawyers trust AI for routine tasks, they focus on strategic thinking and problem solving. Happier lawyers experience less burnout. With adequate time to thoroughly advise clients, service and morale improve firm-wide.
AI is transforming legal work. By deploying AI solutions, law firms can reduce costs and risks while improving quality, creativity, and satisfaction.