Greg Wildisen writes about gaining a competitive edge with AI in The Global Legal Post

Greg Wildisen writes about gaining a competitive edge with AI in The Global Legal Post

Gaining a competitive edge with Artificial Intelligence
by: Greg Wildisen, for: The Global Legal Post | Blog Commentary

Greg Wildisen of Neota Logic considers how the use of AI will develop in the legal sector and the benefits it brings to law firms.

Industry analysts such as Gartner and IDC predict that algorithms – or artificial intelligence (AI) – are the future of business. For lawyers, that will mean creating legal algorithms to automate at least the routine parts of their practices. Starting perhaps with those tasks that are frequently undertaken and are less legally complex.

Over time, the complexity will increase as intelligent software becomes more capable. Either way, what we are seeing is the intersection between technologies capable of creating legal algorithms and an Internet capable of distributing services on-line. In the same way that consumers today demand device driven Apps to consume goods, in time professional services will be demanded similarly by businesses.

Driving force for change

Clients will likely be the driving force for change within law firms. In the same way that clients are demanding technology enabled improvements in their own businesses, they will expect professional advisors to do the same. Technology has moved on significantly and it is now completely feasible to emulate a combination of rules, expertise and judgement into software. It takes effort to achieve this properly but once accomplished, it is completely scalable, able to be dispersed globally and with consistency that is impossible to achieve with humans. AI software never forgets a case and is incapable of bias.

What types of legal functions or advice is best suited to AI assistance? AI is ideally suited for complex repetitive tasks where accuracy is key.  An example of this type of Smart App is Foley & Lardners FCPA App. This mobile app allows their clients’ sales teams to self-serve payment questions anywhere, anytime round the globe. It has provided Foley access to new clients deeper into the Fortune 500 extending their client base beyond what they were handling on a one-to-one human answer basis.

Another example for the use of AI in law today is ComplianceHR, a self-service Smart App platform for HR questions powered by the expertise of Littler Mendelson, the US’ largest HR law firm. In this platform there are a series of Smart Apps including an Independent Contractor App that assesses the users’ employment status in 51 jurisdictions by assessing some 1,400 cases and 80 weighting factors.

Read about the advantages for legal practitioners in the full article, here. 

 

 

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