Artificial Intelligence (AI) refers to intelligent machines that work and react like humans. AI helps to deliver insights to complex client questions in real time through its virtual conversational interface between business and clients. AI enabled applications such as natural language generation (NLG) is closing the gap between data analysis and investment decisions, providing real-time insights through automated trading strategies. For instance, according to a survey in 2018 by Forbes, 34% of wealth management companies have currently deployed AI within their firms and around 99% plan on deploying AI within the next 3 years. Companies such as Wells Fargo and Bank of America have already deployed AI services to better serve clients.

TheBusinessResearchCompany.com offers "Legal Software (Focus On Machine Learning) Global Market Report 2019" from its technology division of research reports. The legal software market was valued at about $0.23 billion in 2018, and is expected to grow to $0.68 billion at an annual growth rate of 30.9% through 2022. Increasing demand for intelligent business processes in law firms is driving the growth of the machine learning market. Intelligent business processes include adoption of artificial intelligence (AI) or machine learning in the business processes. AI is the development of system that has the ability to perform tasks requiring human intelligence.