As a service to our members and the legal community, LTPI is pleased to provide links to pages that provide additional information about artificial intelligence as it relates to the legal industry. Some of these resources are provided by LTPI; however many others are pages supported by other organizations.
This Is The Last Of A Series Of Articles Reporting On The Corporate Legal Operations Consortium Annual Meeting, With A Focus On Artificial Intelligence In Legal Operations. While Ther Is A Lot Of Hype Currently In The Industry, Around AI, There Is Fire Under All That Smoke. The Authors Interviewed Industry Experts, Who Recommend The Initial Application Of AI Should Be In Those Operations That Are High Volume And Low Risk – NDA’s For Example. The Interviewees Emphasize That Effective Use Of AI Will Require Investments, Both Of Time And Money. They Recommend Being Careful In Choosing AI Providers, As The Market Itself Is Immature
Boston Consulting Group Predicts That Fewer Junior Attorneys Will Be Doing Very Different Work As Artificial Intelligence Is Accepted By Legal Practitioners. The Article References A Report About Artificial Intelligence From The Point Of View Of Senior Clients. These Clients See The Future Of Legal Work As Being More Productive In That Less Sophisticated Manual Tasks Will Be Handled By Automation While Attorneys Are Able To Spend More Time On Work Of Importance To Clients. The Result Of Automation Will Be A Change In Typical Law Firm Structure – From Today’s Pyramid Hierarchy To A Diamond Shape, With Specialist Employees Filling The Middle Of The Structure.
The Author Had Lots Of Time To Ruminate About AI As He Was Caught In Traffic Fleeing Hurricane Irma Out Of Florida, Using Artificial Intelligence Applications (Waze And Weather Reporting). He Assesses Contract Review Tools Using Tar-Like Concepts – Precision And Recall, Concluding That They Will Save Associates From 20 To 60% Of Time Otherwise Spent Reviewing Contracts. He Points Out That Today’s Technology, While Outstanding, Must Be Used Correctly And Appropriately.
Corporate Counsel Using AI To Make Analyzing And Drafting Contracts Easier. The Technology Allows The In-House Team To Understand The Universe Of Agreements To Which The Company Is Party, All Of The Obligations Of The Company Pursuant To Those Agreements, And The Key Dates And Deadlines Associated With Those Agreements.
General Conclusion Is That The In-House Attorneys Would Like To See More Proactive Sharing Of The Potential Benefits Of Using AI, By Their Outside Law Firms. Closer Collaboration Between Inside And Outside Counsel Is Possible Using Intelligent Platforms. In The Future, The Willingness Of Firms To Collaborate This Way May Be A Factor In Choosing A Firm.
AI-101, Presents A Number Of Practical Use Cases For Applying AI In The Legal Industry, As Well As Steps To Prepare A Law Firm To Be Ready To Use AI. The Article Also Explores Several Legal Issues That May Muddy Future Use Of AI In Legal Activities.
New Applications For Cognitive Computing Are On The Horizon To Help Attorneys Address Evolving Business Challenges And Make More Intelligent, Strategic Decisions. We Stand At The Cusp Of Using AI For New Contributions To Value-Added Workflows For The Data-Driven Lawyer Of The Future.
Does Technology Control The Practice Of Law Or is The Practice Still A Very Human Profession Dedicated To Helping People And Upholding The Constitution/Making It Applicable. Can We Continue This With The Advancements In Technology?
With Artificial Intelligence, The Future Is Now - The Technology Is Already Changing How Some Legal Departments Direct Their Spend, And Empowering Their Corporate Counsel To Take On More Work Like Never Before.
GET INVOLVED WITH OUR AI PROJECT
Members of LTPI are participating in a new project to explore and help identify what defines a tool as being Artificial Intelligence (AI). Through this project we will also identify who the key players are in the field, both market leaders as well as emerging forces, and how the consumers of AI and cognitive technologies are employing the tools in the legal industry.
Our goal is to create an unbiased resource for industry professionals to track this emerging movement with. The goal will be to provide a cache of relevant and reliable information for members of LTPI to access in order to make more informed decisions when coming to the use of AI.
We are currently looking for members to participate in this long term project. If you are interested in getting involved, please contact us for more information.