There are a few ways in which law firms are currently benefitting from artificial intelligence (AI.) This involves computers performing tasks that previously only human beings could. As such, it gives lawyers more free time to deal directly with clients. AI leaves lawyers to concentrate on negotiating for deals and working in the courtroom.
One of the tasks that AI handles on its own is the research that needs to be performed in order to fight a case. It has the ability to analyze an endless amount of information about the law. Since lawyers don’t have to do this research themselves, they can pass the cost savings onto their clients, allowing more people to afford a lawyer.
Many facts have to be confirmed when researching the law. AI can confirm them quickly. This includes tasks such as performing background checks on select individuals. Litigation and arbitration proceedings are also sped up.
The reviewing of relevant documents is another task AI can accomplish for lawyers. Identifying one document as being relevant to the case allows it to identify other documents that are also relevant.
One of the most harrowing tasks lawyers must deal with is writing business contracts. Yet, AI is poised to take over this task before long. It has the ability to take a contract that has already been written and modify it for each new client.
Unlike lawyers, AI can even predict how a particular case will turn out in court. It does this by taking legal data culled within the previous 12 months and use that data to determine how likely it is a lawyer will win a particular case.
As AI becomes increasingly advanced, the benefits for law firms keep growing. It can put together a timeline of events that are important to the case. It can identify patterns in relevant facts and use them to help a lawyer develop their strategy for the courtroom.
This is just a start when it comes to what AI can do for a law firm. It has been predicted that no later than 2036, 100,000 tasks currently performed by legal professionals will be handled by AI instead. When lawyers can focus on what is most important, their job is made easier.