AI is Changing the Legal Industry: Here’s How
By Adrienne on May 23, 2023 in Legal Industry News and Tips
Remember the days of old when you had to go to the library to do legal research? If you’re a young attorney, you probably can’t even imagine having to spend hour after hour flipping through pages while sitting on a hard wooden chair in a semi-dark room that was always just a touch too cold. Thank goodness times have changed, right? Yes, for years, we have had the internet and legal websites to help make an attorney’s life so much easier. Fast-forward to 2023 and what do we have here — the rise of artificial intelligence (AI).
Whether you like it or not, AI is here and in full effect for various industries including law. It’s been around for a while now in our everyday lives, but have you really taken full advantage of all it can do for you in a legal setting? Check out the ways in which AI is changing the legal industry day by day, one step at a time.
Transcription and Court Reporting
The number of court stenographers has dropped in recent years, so many courts have had to scramble to find alternatives to handle their transcription needs. In comes digital court reporting and transcription. We all know that humans are subject to errors — which, in the legal field, can be the difference between a fair and appropriate outcome or a ruling based on inaccurate details that can change a person’s life forever. AI alleviates many of those errors and provides a more accurate transcript in a shorter amount of time than is typically required. Such technology can recognize accents and dialects and even identity speakers, and it continues to get smarter through consistent use.
Doc Review and Discovery
Generally, document review and discovery can require hours of manpower that are filled with copious amounts of audio and video recordings, documents and other pieces of evidence. However, the days of having to gather a huge team of people to sift through the madness on their own are winding down. Legal tools that are powered by AI can greatly speed up the entire process all while sifting out any insignificant or unnecessary information. For example, the number of cases involving the Telephone Consumer Protection Act (TCPA) has risen by the thousands on a yearly basis. Can you imagine the amount of time and manpower it would take to manually review all of the automated dialing systems and pre-recorded voice messages that are involved in a complaint? Instead, attorneys use a Technology Assisted Review partner to sift through the tens of thousands of audio to pull what’s relevant to the case, saving thousands of dollars of their litigation budget.
Contract Review
Time is money, so reviewing long, drawn-out contracts manually is something busy attorneys try to avoid where possible. AI can use something called “natural language processing” to determine what sections (if any) may prove to be problematic for your client and highlight them to ensure they are closely reviewed manually prior to signing.
Research and Conducting Searches with AI
Even internet reviews of information can be costly and time-consuming because you still have to go through everything and sift out what may be appropriate for your needs. Additionally, if you’re dealing with a very niche and nuanced area of law, the search results may be sorely lacking. AI can actually review the results and look past common language to get to relevant information, court decisions and sources.
Predictive Analysis
When reviewing cases for clients, attorneys typically try to predict the outcome based on the evidence and facts involved. But doing this manually can take a huge amount of time that results in higher costs for clients. Using AI tools for case analysis can prove beneficial for all involved as it can quickly review the information and return quality predictions. In fact, a study conducted several years ago showed that an AI algorithm used in Supreme Court cases accurately predicted case outcomes over 70% of the time (while we humans only got them right 66% of the time).
So, what does all this mean for you? If you and/or your firm haven’t jumped on the AI bandwagon, it’s time to get with it and get going. And if you have any questions about how AI can help take your firm to the next level, contact PaperStreet Web Design for more information.
