Unleashing the Power of AI in Legal Tech -- How Ready Is the Sector? - UrIoTNews

The rise of artificial intelligence is one of the most disruptive developments of this age. Already of rising importance, AI is considered a make-or-break technology for companies across the board, with 75% of C-level executives believing that employing AI will decide if their business will prosper or fail. The legal sector is an industry that is rich in documents but poor in data -- a stark contrast to many other business sectors, where data is at the heart of everything. This means that most AI solutions thus far are not adapted to a law practice's kind of work, which mostly consists of sifting through thousands of documents relevant to a specific case, with specialized teams hired particularly for this purpose. No surprise then, that law firms have been slow to embrace new tech such as AI. However, recent innovations in AI have been tailored exclusively to the needs of the legal sector, which has caused a renewed interest in using artificial intelligence for the benefit of the legal profession.