As technology continues to advance, law firms that embrace Artificial Intelligence (AI) stand to gain a competitive edge. How can lawyers use AI to transform their legal practice? Using AI to automate tasks allows lawyers to focus on higher-value activities, such as strategy development and client interactions.
Most technologies designed for law firms use Natural Language Processing (NLP), which are AI methods that enable machines to understand human-like text. NLP works by tokenizing, breaking a text into smaller units called tokens. It can identify parts of speech, parse sentences, and remove irrelevant data from text. NLP powers advances including Name Entity Recognition, Semantic Analysis, Coreference Resolution, and Sentiment Analysis. Large data sets and deep learning were integral parts of creating this technology.
Applications of AI in law include:
- Legal Research and Document Review
- Contract Analysis and Management
- Predictive Analytics for Case Outcomes
- Improved Client Services
Legal research and document review
One of the most time-consuming tasks for lawyers is legal research and document review. AI-powered tools simplify this process by quickly sifting through vast databases of legal precedents, statutes, and case law. NLP tools extract key information and summaries from legal documents so that lawyers can find relevant information more efficiently.
These AI tools empower lawyers to enhance their document review processes by automating routine tasks, increasing accuracy, and reducing the time and resources required for comprehensive legal analysis. As technology continues to advance, the integration of AI in legal workflows is expected to further optimize document review and other aspects of legal practice.
Contract Analysis and Management
AI can also be instrumental in contract analysis and management. Legal professionals can use AI tools to review and analyze contracts, ensure compliance with legal standards, and identify potential risks. Machine learning (ML) algorithms can extract key information from contracts, helping lawyers make informed decisions. Additionally, AI-driven contract management systems facilitate organization and tracking, reducing the likelihood of oversights or missed deadlines.
Predictive Analytics for Case Outcomes
Predicting the outcome of legal cases has long been a challenging aspect of the profession. AI has introduced predictive analytics tools that leverage historical case data to forecast potential outcomes. By analyzing patterns and trends, these tools assist lawyers in developing more informed strategies and setting realistic expectations for their clients. This not only improves decision-making but also enhances the overall efficiency of legal proceedings.
Improved Client Services
AI can enhance the overall client experience by improving availability, connectivity, and operations. It also frees legal professionals to spend more time on what humans do best, providing exceptional service and prompt communications to clients.
MultiLine™ by Movius adds a second, secure business line on any smartphone that allows secure, compliant communications without upfront hardware investment. The firm can set up any required workflows such as call recording, call recording announcements, message recording, text disclaimers and opt-in flows.
When used with CLARE, MultiLine call recordings are analyzed for emotion and sentiment, allowing firms to extract emotional intelligence from every conversation and across every customer touchpoint. CLARE enhances sales efficiency through revenue intelligence and funnel insights by revealing the voice of the customer.
MultiLine offers an automatic recording offload service, Digital Safe, that integrates with leading archival solutions, including Smarsh, Verint, GlobalRelay, NICE, Soteria, and Splunk. Many of these archival solutions offer AI tools, data analysis, and E-discovery capabilities to legal and government sectors.
Movius also offers Conversational AI Curie, that powers Spocto’s debt support and risk mitigation platform. Curie has revolutionized customer care solutions.
The impact of AI in law
As the legal profession continues to embrace these technological advancements, law firms that automate routine tasks, enhance research capabilities, provide predictive insights, and deliver superior client services will distinguish their firms.