One of the latest topics of 2018 is artificial intelligence. It is an automated tool that streamlines various time-consuming legal tasks. Instead of wading through piles of paper, lawyers can manage and store their documents electronically. Contract review and management, which is one of the most sophisticated legal tasks; now with the help of AI it is being processed faster and in a thorough manner than what lawyers may be able to do so on their own.
There's been lots of talk during the past week about how artificial intelligence–the development of computer systems able to perform tasks that normally require human intelligence–is impacting the legal profession and the delivery of services. I saved the following to read later and thought our readers would also find them interesting. How AI is transforming the legal profession. How artificial intelligence is transforming the legal profession, ABA Journal – "Artificial intelligence is changing the way lawyers think, the way they do business and the way they interact with clients. Artificial intelligence is more than legal technology.
The legal sector is more advanced in use its use, understanding and application of AI technologies, a New CenturyLink study suggests. Before 2015, the legal sector was one of the least technologically ept professions. But since then it has undergone an automation transformation. In history and practice, law has largely relied on lawyers and legal aids sifting through copious documents seeking evidence or precedents. A precedent is defined as'an earlier event or action that is regarded as an example or guide to be considered in subsequent similar circumstances', according to Google.
AI-powered legal software has been proven to boost efficiency in analyzing legal documents. Artificial intelligence is continuing to play an essential role in bringing automation and driving precision in the decision-making process across many industries. Recently, the legal profession has also been subject to AI-based innovations. Some app developers already built future-ready AI tools for lawyers and law firms. This has prompted many industry experts to predict the upcoming AI uses for law firms and the legal industry.
The Law Society has produced a new horizon scanning report on Artificial Intelligence (AI) and the legal profession. Over the next few years, AI will start to have a noticeable impact on the legal profession. This report explores the use of AI in legal practice, in areas such as document analysis and delivery, legal advisor support and case outcome prediction. It considers the likely implications on legal jobs, types of legal work and the impact on fee structures and costs. The report also examines the legal issues arising from the increased use of AI systems, including issues around transparency, ethics and liability.