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Machine Learning, Artificial Intelligence and Blockchain are Revolutionizing the Legal Industry

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Blockchain, machine learning, and artificial intelligence are revolutionizing the legal industry. Digital transformation in the legal industry has been slow, but as benefits are becoming more obvious, legal firms are adopting digital technologies to improve their services. Since privacy is of utmost importance in this field, the use of technology has not yet extensively pervaded, due to gradual and cautious implementation. However, digitization, although initially slow to catch on in the legal industry, is seeing a steady increase in its adoption. The digital transformation in the legal industry is already proving to be highly beneficial and is promising even greater benefits once fully realized.


From Automation to Autonomous, Legal AI is Moving Rapidly

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Initially, when artificial intelligence came into existence, people thought that it would be very easy for them to come up with a replica of humans. A machine that could do all the human works felt simple to them. But when researchers practically accelerated the concept into action, they faced many issues and realized that streamlining technology in the real-world scenario was far complicated than how they predicted it to be. Although today's digital world has evolved drastically, the legal sector is a confined place where artificial intelligence's influence is still at the first stage. But post the pandemic, Legal AI adoption has surged like never before.


The Future of AI in Law: Changing the Legal Landscape

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Artificial intelligence (AI) is one of the fastest-growing technological industries today, but what effects will it have on legal practices? In addition to the growing number of legal questions that arise as the explosive growth of AI creeps into our everyday lives, artificial intelligence is already enabling some software to carry out legal functions. Let's discuss the future of AI in law. Artificial intelligence, simply put, is teaching computers to "think" the way humans would, using the given data and desired output requested. There are many different types of systems that utilize AI, from advertising and marketing to shopping, to scheduling.


How Robotic Process Automation Transforms Legal Tech?

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RPA in law practice has reduced costs by 20-40percent while reducing human error and rising enforcement. Fremont, CA: Law firms are now under and forced to keep pace with the recent digital transformation trends and improvements. As a result, the industry has provided consumers with faster services at a lower cost. It means that law firms and practitioners in this field must change their working methods and become more effective.Traditionally, the legal industry always opposed technical advancements, mainly for cultural purposes. However, in response to consumer demands, the sector is now taking critical measures to catch up.


Application of new information technologies in the legal profession

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The magnitude of how technology has changed the landscape of the legal profession so far is quite astounding, considering how legal professionals used to be insistent on sticking to the status quo. The digital revolution made practicing law significantly easier by supplying lawyers with tools that streamlined parts of their previously outdated workflow, from researching case files to client relations. As law firms are working remotely and switching to a client-centric approach, now is the right time to consider how the latest IT developments will further impact the legal industry. With clients demanding law firms to be faster, cost-effective, and more flexible, law professionals have embraced automation and law firm software as solutions for growing customer expectations. Automation, in particular, helped law firms save time and deliver more productive results.


Using Artificial Intelligence to Improve Law Firm Performance

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The evolution and utilization of artificial intelligence (AI) is on the rise and shows no signs of stopping in the near future. In fact, Statista reports that global revenues from enterprise applications making use of AI are expected to increase by almost $30B by 2025. With such monumental growth, it's no wonder the legal industry is getting in on the action. As luck would have it, the legal field is fertile ground for the benefits of AI technology. Time-consuming tasks that attorneys have previously expended manual resources into can now be accomplished using automation and machine-learning in less time and for less money.


Legal industry ramping up adoption of artificial intelligence, says AI platform partner

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"The legal sector is on a new disruption path now and our partnership with SparkBeyond will turbo-charge the change in our business. The collaboration will give us unparalleled insights into the future of legal services and what they could be if only we had a wider perspective," said Ben Allgrove, Baker McKenzie partner and global head of research and development. "Understanding these unseen drivers and roots causes driving future client demand will allow us to shape the future of our business. Thereafter we plan to quickly explore, with our clients, how we might co-create a range of new value across the legal, tax and compliance functions." Baker McKenzie's needs and the needs of law firms generally are that they have a massive amount of disparate and siloed data and want to supplement that data with legal information that exists outside the firm's firewall, says Pulikkan.


Legal industry ramping up adoption of artificial intelligence, says AI platform partner

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After a slow start, the legal industry is beginning to ramp up the adoption of artificial intelligence, says Peter Pulikkan, a partner at SparkBeyond, …


Legal Tech: AI set to change the face of legal industry

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Artificial intelligence (AI), the simulation of human intelligence in machines, is changing the face of the legal industry. Law firms globally are apprehensive about what lies ahead for the industry but changes are already in motion and there is no escape, says Dr Anton Ravindran. Anton is the CEO of SmartLaw, a start-up based in Singapore that utilises AI to assist lawyers in their work. Its online services help lawyers scan through thousands of pages of documents and answer their law-related questions in seconds. It also helps them predict sentencing outcomes, and extract legal precedents and verdicts almost instantly for criminal offence, contested divorce and medical negligence.


How AI Helps The Law -- AI Daily - Artificial Intelligence News

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When it comes to the introduction of the latest technologies, the legal sector is known to lead the way. Artificial intelligence (AI) and machine learning have taken shape in the legal industry, saving time and administrative work and bringing many other benefits. Companies are now starting to introduce various technologies that can simplify the process, ensure greater accuracy and improve compliance with data protection rules. While the use of AI can have its benefits, it is equally important to understand when not to use it to ensure that law firms can continue to provide the best services to their clients. The legal industry begins its journey with the use of machine learning, which permeates almost the entire workflow of a law firm.