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If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."

However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …

Automation in Law Firms: How to Improve Profits w/ AI & Machine Learning

#artificialintelligenceSep-17-2019, 22:13:15 GMT

This 2018 study found that realization rates average 81%, and collection rates average only 85%. This means law firms are missing out on 31.2% of hours expended. Let's say a firm has 1000 hours logged in its time tracking system for a given month. At $200 per hour the firm would be owed $200,000. But the average realization rate of 81% means that only 810 hours actually get billed. Then with an average collection rate of 85%, the law firm only collects 688.5 hours.

ai & machine learning, artificial intelligence, realization rate, (3 more...)

#artificialintelligence

Industry: Law (1.00)

Technology: Information Technology > Artificial Intelligence > Machine Learning (0.47)

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