A.I. & ITS GLOBAL APPLICATIONS ON THE LEGAL SYSTEM


“Artificial intelligence will reach human levels by around 2029. Follow that out further to, say, 2045, and we will have multiplied the intelligence – the human biological machine intelligence of our civilization – a billion-fold.”

-Ray Kurzweil, American inventor and futurist


Artificial Intelligence [A.I.] is a contraption based cognitive machinery comprehending and performing tasks that customarily involves human acumen. Many of these A.I. systems are driven by machine learning, some of them are powered by convoluted and delirious learning mechanism and some of them are powered by very rudimentary and proverbial regulations. This comes with a curve which involves garnering the rules and information for using the information and providing the outcomes.


The Indian legal sector has seen trivial and scarce innovation in terms of technology and lawyers these days are still comfortable and relying on the manners and explanation that were designed but at the present are obsolete or left in archives. A.I. is playing a big part in changing the way lawyers operate and the law is looked at in India. One of the biggest commotions and its causality by A.I. in law is that in the field of legal research. The Indian legal system is behemoth and volatile and with the use of A.I., lawyers can get unequaled insight into the legal domain within short span of time. Presently to get legal research requires a significant number of hours with human efforts but concomitantly this considerably reduces the profit-making ability of a law firm, however, with A.I. the entire legal fraternity can be balanced. An artificially intelligent platform for research can get research done in seconds and be it a law firm with 400 lawyers or single practicing lawyer, A.I. can balance the expenditure required for in legal research making the quality of research uniform. It can provide lawyers with highly efficient and advanced tools helping lawyers become better in advising clients or litigating on an un-fathomable scale with immense results & outcomes. Over a previous couple of years, the legal industry not only India however globally has seen a high growth within the level of competition. Now it has become imperative for law companies to realize competitive blessings by understanding the advancements in technology and client requirements. A.I. is not the replacement of a lawyer (Plausible deniability or coherent reality, perhaps a perspective in variance)

Nowadays there is a burning question among the lawyers that whether Introduction of A.I. in legal sector would replace the lawyer and legal analyst or the AI-based solutions and platform would increase the competence and productivity of Firms and Lawyers. The legal sector has adjudged the introduction of many new solutions where technology has improved the efficiency of lawyers, contract analysis, trademark search software, legal research software and much more. However, none of the AI-based software or program target to take a lawyer’s job and all the A.I. based software and programs are increasing the authenticity, precision of research and analysis and the same are more result oriented now. The legal profession is highly driven by analysis, decision making, and representation which cannot be automated. AI-based software and programmes can reduce a lawyer’s time and effort noticeably and can help the lawyers and firms give a more authentic and result oriented suggestion to their clients. Areas where A.I. are helping the legal industry:


It is believed that A.I. has great scope for Indian Legal Sector and a combination of A.I. and law will witness immense growth in the near future. Currently, there are many fields or arena in which A.I. in law is proving to be useful these are as follows:

· Due Diligence -To review a contract, conduct legal research or performing electronic discovery functions to do due diligence, AI legal software are proving to be helpful and time effective.

· Legal Analytics- Artificial Intelligence provides for the data points from past case laws, and also provides judgments and precedent law to be used by lawyers in their present cases.

· Automation of Documentation- By just submitting the required documents which you wish to incorporate in your legal document get your documents ready within minutes.

· Intellectual Property- Tools of artificial intelligence helps in providing the insights into the IP portfolios i.e. search and registration of a trademark, Patent, Copyrights etc.

A.I. Contribution To Human Productivity: Boon Or Bane?


There is a erroneous and equivocated postulation amongst the lawyers and Law Firms that A.I. is a peril to their existence, or simplified, that A.I. is going to substitute Lawyers. The evidence, from other industries and verticals such as e-commerce, healthcare and accounting is that A.I. will only enable lawyers and law firms to do more with less. A gargantuan $1 Trillion (market size) globally, the legal services market is one of the largest in the world. At the same time, it remains profoundly under-digitized. For better or worse, the field of law is tradition-bound and notoriously slow to adopt new technologies and tools.


Among the social sciences, law may come the adjoining to a system of reserved logic. To oversimplify, legal rulings involve setting forth axioms derived from precedent, applying those axioms to the particular facts at hand, and reaching a conclusion accordingly. This logic-oriented methodology is exactly the type of activity to which machine intelligence can fruitfully be applied.


Toronto-based Blue J Legal is one startup developing an AI-powered legal prediction engine, with an initial focus on tax law. According to the company, its AI can predict case outcomes with 90% accuracy.


"We are already starting to see significant advantages being gleaned by sophisticated parties leveraging machine learning legal prediction technologies," said Blue J Legal CEO Benjamin Alarie. "In the next ten years, these algorithmic technologies will become the natural starting point for legal advice."


A related use case for A.I. is in litigation finance, a practice in which a third party funds a plaintiff's litigation costs in return for a share of the upside if the plaintiff's case is successful. AI is supercharging litigation finance by enabling investors to develop more sophisticated, data-driven assessments of which cases are worth backing.


In the words of U.S. Supreme Court great Oliver Wendell Holmes, presciently written over a century ago, "For the rational study of the law the black-letter man may be the man of the present, but the man of the future is the man of statistics."


Legal Research

A final area in which A.I. is increasingly making inroads and drastic ameliorations.

Legal research was historically a manual process, with law students and junior firm associates consigned to searching through physical case-law volumes to find relevant precedent.

In recent decades, with the advent of software and personal computing, this process has gone digital; lawyers now generally conduct research using computer programs like Lexis-Nexis and Manupatra and Westlaw. Yet beyond rudimentary search functionality, these legacy solutions do not possess much intelligence.

These platforms go beyond mechanical key-word matching to surface truly relevant existing law. Their semantic models enable them to provide nuanced perspectives on how different cases relate to one another.

AI-driven legal research contrivance is a foundation to get real footing in the marketplace: over 4,500 U.S. law firms today subscribe to Case-text.


Conclusion

Consider the main functional areas in a typical business: marketing, sales, customer success, finance, accounting, human resources, talent, legal.


In nearly all of these functions, billion-dollar-plus enterprise software businesses have been built in the past two decades to enhance productivity and workflows.

Conventionally seen as a cost centric and largely disregarded by entrepreneurs, the legal utility has seen little modernization in recent years. Today, Microsoft Word and email remain the foremost digital tools that legal teams use to carry out their work.

Considering the size of the legal market, this represents a momentous prospect for value creation. As A.I., and in particular natural language dispensation, continues to mature, they will unravel massive opportunities to convert and invigorate the field of law.

#lawfirmstrategy#lawfirmmarketing#lawfirmmanagement#lawfirmgrowth#lawfirmleadership#legaltech#legalindustry#legal#legalmanager#legaldocument#legaldisruption#legalinnovation#legalknowledge#legalmarketing#legaleducation#legaladvice#legalcommunity#legalhelp#legalissues#legalawareness#legaldesign#legalblog#legalmatters#legalcounsel#legaldocuments#legalconsulting#legalai#legalcloud#lawtech#lawyers#lawpractice#lawupdates#laws#lawnews#lawenforcement#law

Follow LexTalk World for more news and updated from International Legal Industry.





31 views