There are three categories of intelligence in the legal vertical–intellectual, emotional, and artificial. Many lawyers have elevated IQ's, though relatively few seem to possess high EQ's– commonly called'people skills'. Only the best lawyers--trusted advisers– have both. Artificial intelligence (AI), a recent entrant in the legal vertical, scores high on IQ, but the jury is still out on whether machines can develop comparable EQ. What kind of intelligence is required for legal delivery?
There are generally two schools of thought when it comes to the effects of artificial intelligence (AI) on the future of the law practice. One faction believes that robots and all AI are going to render lawyers largely redundant or drastically reduce their numbers. On the other side are those who say artificial intelligence is vastly overblown, that it's just a fad and that it will not have that big of an impact on the legal industry. Attorney Mark A. Cohen, a leading authority on the delivery of legal services and an early adoptee of technology in the legal industry, comes down somewhere in the middle. "I say AI is not going to replace lawyers but instead cause lawyers to work differently in the marketplace than they have before,'' he explained during a panel discussion on the ABA-sponsored webinar "Artificial Intelligence and the Future of Law Practice."
A project to develop breakthrough artificial intelligence technology for the anti-fraud sector is one of a number of new projects set to receive funding to enable the UK accountancy, insurance and legal services industries to transform how they operate. The artificial intelligence software, being developed by Intelligent Voice Ltd, Strenuus Ltd. and the University of East London will combine AI and voice recognition technology to detect and interpret emotion and linguistics to assess the credibility of insurance claims. The project is one of 40 backed by £13 million in Government investment to support collaborative industry and research projects to develop the next-generation of professional services. Artificial intelligence and data are transforming industries across the world.We are combining our unique heritage in AI with our world beating professional services to put the UK at the forefront of these cutting-edge technologies and their application. We want to ensure businesses and consumers benefit from the application of AI - from providing quicker access to legal advice for customers, to tackling fraudulent insurance claims, these projects illustrate our modern Industrial Strategy in action.
While we hope it will not be lethal, the increasing use of artificial intelligenceArtificial Intelligence knows many different definitions, but in general it can be defined as a machine completing complex tasks intelligently, meaning that it mirrors human intelligence and evolves with time. in the legal services industry poses its own challenges. Law firms accustomed to using lawyers to perform certain tasks are now encountering technology, including artificial intelligence, that can perform tasks in seconds or minutes rather than the hours spent by a human counterpart. Although there are a growing number of firms using alternative fee arrangements, the majority of law firms continue to rely upon the billable hour as the source of their revenues. As technology and artificial intelligence continue to improve and threaten the traditional revenue model, law firms must assess how to use these technologies and consider other means of billing. What exactly is artificial intelligence?
In recent years, one of the hottest issues that has permeated in the legal profession is the expected impact of Artificial Intelligence, a technological advancement that allows computers to look for patters in data, carry out evaluation tests and find results – essentially simulating human intelligence and decision-making. Undoubtedly, the legal profession has been slow to partake with technological changes, often still clinging on to their traditional ways, but the recent years has seen some openness to technology. Artificial Intelligence, however, has sparked a new debate, particularly since it can mean the end of the legal profession or the replacement of many within the industry. After all, with the integration of AI systems, many feel that it would simply fall on to them to accomplish various tasks such as research or determining the type of legal counsel clients need. However, there are those that believe in the potential and capacity of Artificial Intelligence not as the replacement of human lawyers, prosecutors and judges, but as complements for those in the profession.