Impact of Artificial intelligence on Legal Sector
The stimulation of human intelligence process by a machine is termed as Artificial intelligence. Mostly this is done by the computer systems. The Specific applications of Artificial intelligence include natural language processing, speech recognition and machine vision. In simple words it is programming a machine on how to learn, reason, communicate, and make decisions. The Artificial intelligence systems work by assimilating a large amount of training data, analyzing the data for correlations and using these data to make predictions. The Artificial intelligence firms are developing technology to help the various industries to manage their laborious tasks for better speed and accuracy.
Artificial intelligence has already found its way in the legal profession supporting lawyers and clients. The interest in applying Artificial intelligence in law is slowly transforming the profession by helping the lawyers to perform research, providing additional insights through analytics, Automating creative processes in legal work
Application of Artificial Intelligence in law
The due diligence process is required for giving intelligent advises to the clients on their issues raised and what actions they should take on that matter. By using artificial intelligence the litigators can perform due diligence to uncover background information, to review a contract and to conduct a legal research. The AI legal software is helpful and time effective. The AI legal software predicts the probability of a case which is adjudicated before the court. This is called Prediction technology
The AI can be a Legal analytics. The artificial intelligence will give data from past case laws. The Lawyers can use these data points to determine the win loss rates.
Document automation is made easy with Artificial Intelligence. The AI legal software will help to prepare legal documents by filling out the data. The software will access the data and prepare the legal document.
The AI tools will guide the lawyers in analyzing the insights into the Intellectual property portfolios and drawing insights from the content. That is search and registration of a trade mark, patent, copyrights etc.
Electronic billing will give automated bill to the rendered service. The AI legal software will help the lawyer in preparing the invoices based on the work done by them. It will give accurate bill for the work done by the lawyer. Thus it is helpful for both lawyer and client.
Artificial Intelligence Law
Artificial Intelligence Law regulates the use and development of artificial intelligence. It is closely related to the robot law because the artificial intelligence is built in the robots. Artificial Intelligence law is usually mistaken as the use of Artificial Intelligence by lawyers on the legal profession. In reality, Artificial Intelligence Law refers to the application of the law on Artificial Intelligence. There are various aspects to artificial intelligence law they are data protection, intellectual property, ethics, politics, and technology.
Currently, we all use Artificial Intelligence in our daily lives for purchase predictors, advertisements, machine learning, chat bots to answer people’s questions for making decisions whether to grant a loan or not and so on. It is true that AI has made our lives easier and saves time to complete the tasks but there is possibility of malfunctions and disadvantages in the technology.
The leaders around the globe have raised their concerns regarding the use of AI. The AI may create the damage to the human race. The current artificial intelligence law is insufficient to regulate the use, manufacturing, behavior, and responsibility of AI. A balance between the protection and innovation should be considered while upgrading the AI law. This is a global issue and to address it a new universal law is required. Legal professionals must include the developers of AI in the drafting process to address the technical issues.
Artificial intelligence for law
The latest development in artificial intelligence law is the development of Case Cruncher Alpha. It is a Chat bot who merely answered legal questions. After updating it can now predict the outcome of cases and has the potential to expedite court decisions and outcomes. Many law firms use AI in their practice. There is common a comment that in upcoming days there are possibilities that AI will replace lawyers and many other professions.
There is a question that whether the AI in the legal sector will replace the lawyers and legal analyst. The legal sector has seen the introduction of AI in various fields like legal research, trademark search, contract analysis etc for the improved efficiency and productivity. However in the legal profession requires analysis, taking decisions, and representations which cannot be made automated by any software. All the software can give supplementary support for improving the efficiency and help the lawyer to give more authentic and result oriented suggestions to the clients need.
Future of legal sector
The legal firm or the lawyer will approach the clients with an innovative, authentic and economic legal solution. Now the service is billed according to the time invested by the legal firm on their subject but it will be replaced in the future after the application of AI in legal sector. A performance based price strategy will be followed strengthening the client lawyer relationship.
In the past few years the AI based solutions had made efficient and client friendly legal sector. That is automation of contract drafting, trademark search etc have improved the lives of lawyer in the firm. The AI based solutions will give economic, efficient and gain higher profits. The legal sector will work with the AI companies to give more solutions for rendering improved service.
Conclusively, the AI legal-tech companies seem to be improving their efficiency. AI software will speed up document processing by detecting the errors. Legal firms adopting the AI are able to move faster providing immediate service to their clients.
The AI is not going to replace jobs of professionals rather AI based program will make the professionals more efficient, accurate and result focused.
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