Artificial Intelligence: The importance of identifying the problem

Over the past few years, Artificial Intelligence (AI) has attracted a huge amount of attention. It is anticipated to transform almost every sector including key areas such as finance, healthcare, manufacturing, logistics, automotive and aviation. The impact of this technology is so great that it has led the government and the AI sector to agree a Sector Deal to boost the UK's global position as a leader in developing AI technologies, which will see £1bn of investment put into the industry. For the legal sector and other professional services, AI is both a challenge for our clients in terms of how they will operate their businesses in future (and therefore something they will seek advice upon) and a challenge to how legal and professional services are delivered as AI replaces human review, analysis and advice. However, before businesses jump on the AI bandwagon, it's important to assess whether or not AI is the right tool to solve the problem before investing. There are countless stories of businesses being driven by marketing and media hype into implementing new technology that they don't actually need or are not ready for.