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Analytics, Artificial Intelligence, Technology Strategy

Here’s How Artificial Intelligence Is Transforming the Legal Profession

Posted on April 4, 2024

By Jim Fosse

May 25, 2024

The legal profession has long been associated with tradition, precedent, and the meticulous application of human expertise. However, the rise of artificial intelligence (AI) is fundamentally transforming the way legal professionals work. As technology continues to advance, it’s crucial for legal professionals to understand and adapt to these changes in order to stay competitive in the evolving legal industry. In this article, we’ll explore how artificial intelligence in law is transforming the legal profession and analyze the top AI tools for legal professionals.

How Will Artificial Intelligence Affect the Practice Of Law?

Artificial intelligence (AI) is revolutionizing various professions and industries. The legal profession is no exception to this technological disruption, bringing both challenges and opportunities alike. With them, we can anticipate greater legal transparency, more efficient dispute resolution, improved access to justice, and a shift in the traditional structure of private law firms.

As lawyers embrace new technology, they will have the power to work more efficiently. Not only that, they’ll also be able to expand their areas of expertise and deliver enhanced value to their clients. These developments shall surely transform how legal professionals carry out their work and resolve disputes on behalf of their clients.

Looking ahead, the long-term impact of integrating artificial intelligence in law and expanding the range of services offered to clients remains uncertain. However, the adoption of AI in the legal field will bring about significant changes in the way legal professionals operate and provide services to their clients.

How AI Is Benefitting Law Practices

AI is revolutionizing the way legal professionals operate. There is a lot of potential for AI in the legal industry. Let’s take a look at how AI is benefitting law practices:

Save Time

The primary advantage of artificial intelligence in law is the significant time savings these tools offer. Unlike humans, computer systems can comprehensively evaluate large volumes of data in a fraction of the time. For instance, users sometimes reported spending an hour proofreading a paper before testing it with AI software. In less than a minute, the AI not only identifies but also corrects all the issues. This time-saving benefit is applicable across a wide range of AI applications.

Accurate Risk Assessment

Advanced TAR technologies, such as predictive coding, empower legal professionals to analyze data in real time. TAR also provides early detection of potential risks, accurate client counsel on exposure, and proactive prevention of legal issues.

In the event of a lawsuit or threat thereof, these sophisticated tools enable law firms to swiftly identify critical information. Thus, law firms can better forecast outcomes and minimize costs and risks while safeguarding both their clients and their reputations.

Improve Client Relation

AI solutions free up attorneys from repetitive and mundane tasks. Thus it enables them to dedicate more time to the more fulfilling, creative, and uniquely human aspects of legal representation. This encompasses engaging with clients, developing, researching, and articulating strategies, theories, and findings, as well as ensuring ongoing communication with clients throughout the legal proceedings. Furthermore, improved and reliable outcomes inherently lead to increased client satisfaction.

Improve Access

Artificial intelligence (AI) and machine learning are revolutionizing the legal industry by addressing long-standing barriers to justice. Automating manual and routine legal tasks can save valuable time and reduce the financial burden on their clients. For instance, the use of AI can significantly expedite research processes and cut down what was 20 hours of work to just two hours. This efficiency not only translates to cost savings for clients but also enables lawyers to allocate more time to serve additional clients.

Despite the legal profession still being in the process of fully embracing AI, the potential benefits are undeniable. As lawyers continue to explore and adopt AI technologies, the opportunities for improved efficiency and cost-effectiveness in delivering legal services will become increasingly apparent.

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3 AI Tools For Legal Professionals

As the legal industry embraces digital transformation, the demand for AI tools for legal professionals is on the rise. There are a number of companies providing AI tool-related support to law firms. Let’s explore three AI tools that are making waves in the legal sector:

1. Casetext

Casetext stands out as a highly efficient legal research tool available today, and its recent introduction of an AI assistant could greatly enhance its usability.
The AI assistant can facilitate the process of legal research. Casetext and OpenAI developed this feature in collaboration. This new feature is great for adjustments for the legal domain.

According to Casetext, CoCounsel can generate and understand content at a level comparable to that of postgraduate studies. Moreover, Casetext asserts that CoCounsel offers capabilities beyond traditional legal research.

2. Lex Machina

Lex Machina is a legal analytics company under the ownership of LexisNexis. It employs artificial intelligence algorithms to analyze and categorize court documents. This enables users to detect patterns among parties, lawyers, judges, and courts.

The data encompasses details such as rulings, damages awarded, and case outcomes. Lex Machina searches various databases every 24 hours and ensures that its AI platform constantly accesses up-to-date information on millions of cases. Subsequently, this tool utilizes the information to provide an extensive range of AI-generated insights.

3. Relativity

Relativity is an AI application that can simplify the process of discovery. It streamlines the entire discovery process by automating workflows for data collection from multiple sources, managing document reviews, monitoring AI insights from a central dashboard, and facilitating the redaction of sensitive information.

Additionally, it offers the capability to translate documents into different languages. One notable feature of Relativity is its ability to learn from user interactions, allowing it to continuously improve and accelerate over time. 198 of the AmLaw 200 firms use this tool. On top of it, they cater to legal firms of all sizes seeking AI-enabled tools for their operations.

Conclusion

It is evident how artificial intelligence in law is transforming the legal profession in numerous ways. From streamlining tedious tasks to improving research and analysis capabilities, AI is revolutionizing the way legal professionals work.

As AI continues to advance, it will undoubtedly reshape the legal landscape and offer new opportunities for increased productivity, cost-effectiveness, and enhanced client services. Contact us to learn more on how you can use AI to improve your law practice.

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Jim joined KDG in 2022, offering a unique collage of technology experience spanning 20+ years between e-commerce and software solutions in the law enforcement industry.

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