Can AI be used by today’s law firms? Absolutely. In fact, the argument can be made that any law firm not already making use of the capabilities and benefits delivered by artificial intelligence has already fallen by the wayside. However, before we can discuss that, we’ll need to know a few other things.
What Is AI?
When you think about artificial intelligence, what comes to mind? Do you picture The Terminator or perhaps I, Robot? Many people automatically equate AI with an autonomous, computerized system with a humanoid form, or at least with a body of some sort. We think about robots and androids; however, the truth is far stranger. Artificial intelligence is all around us. We use them day in and day out, and for the most part, they’re completely invisible. Here are some great examples of AI in your daily life that you might not think about:
- Netflix recommendations
- Amazon
- Email spam filters
Not so invisible now, are they? However, it can be difficult to connect the dots in terms of what artificial intelligence can do for today’s law firms.
Cost Reduction
One way that your law firm can benefit from the use of artificial intelligence is in reduction of your operating costs. There are many ways that AI can help reduce costs, including in terms of electronic discovery, data analysis, extrapolation, and more. Something as simple as document proofing can save your firm time and money.
Research
Research is probably one of the most visible areas that AI can be of benefit to a law firm. A great deal of your case load likely revolves around research into various laws and legal precedents. AI can take what would ordinarily require days, weeks or even months, and complete it in hours, or even less.
Practice Management
Artificial intelligence can even offer help with practice management. This ranges from billing and time tracking to case load management and even decision making based on in-house data. Some advanced AIs can also predict outcomes and help you determine whether you should take on a particular case or not.
In the end, artificial intelligence is here to stay, and it will only become more and more advanced as time goes by. Law firms should be using AI to automate mundane tasks, increase accuracy, reduce costs, and save time. By taking this step now, you will also be better positioned to take advantage of more advanced AIs in the future.
