AI for Legal Industry
Guide and Primer for Lawyers and in-house counsels

Contract Review, Legal Research and Due Diligence powered by AI

Written by Knowledge Team, posted on February 04, 2019.

AI Impact on Legal Profession is the innovation law firms are looking to embrace growth. Machine Learning can disrupt Legal sector, from automated tasks and SOP review. Lower legal service costs for public and easier access to justice for everyone

What is Artificial Intelligence

Artificial intelligence is the introduction and usage of machines that can perform certain operations of the human mind. These machines use a set of rules or algorithms to complete tasks that generally requires human intelligence. When rules are framed properly, computers can use the rules to analyze data and derive outcomes.

Artificial Intelligence for Legal Growth

In Legal Industries, Artificial intelligence facilitates greater productivity, accuracy and efficiency, cost reduction and revenue generation. Powered with the ability to mimic human work, Artificial Intelligence can free up a lot of time and resources, thereby relieving attorneys from monotonous processes and creating more time for them to focus on their clients, negotiating deals and appearing in court. This enables new opportunities and helps achieve business goals.

Benefits of AI in Legal Industry

AI is as an innovative way to positively transform the law firms. Here are some worthy benefits of Artificial Intelligence in the legal industry.

Saves up big time

It is obvious that proof reading documents can be tiring and boring and ultimately more time consuming and prone to manual errors when done by humans. AI Applications can analyze huge data of information, more accurately than humans can, within a fraction of time and can also find and fix bugs or search through relevant data quickly. Legal Researches can be done in a timely and comprehensive manner by AI, which otherwise would take several days even for a skilled attorney. This way AI can help streamline many processes and repetitive tasks with high predictable results. Saving time does save money too.

Contract Management made easy

Reviewing contracts and identifying risks and issues with it are tedious tasks that law firms do on behalf of clients. AI can help analyze and review individual contracts as well as contracts in bulk based on the legal policy and help turn around contracts that are not in line with the firm’s policies and speed up the approval process. Artificial Intelligence Engines have been the quickest and easiest means for law firms in terms of Contract Review and Management.

AI solutions – the overall Positive Momentum

Artificial Intelligence not only makes document automation simple but also keeps it highly organized. Through document comparison and automatic learning, AI can identify missing clauses, inconsistent language usage, wrong terminologies or undefined terms within a document or across a pool of similar documents. The output is truly error free documents in less time. This allows attorneys to revisit and focus on their weak points. By analyzing data and documents, AI can also predict legal outcomes better than humans, helping lawyers and leading to improved client relationships.

Legal Ethics and AI

Artificial intelligence is undoubtedly transforming the legal profession, but not to forget the legal ethics. AI may raise many complex ethical issues and challenges that lawyers should pay heed and not ignore. At the same time, AI promises to help lawyers to meet their ethical obligations and the rules of law.

Duties of Attorneys to maintain Legal Ethics

  • Attorneys must catch-up with the technology they are employing to automate the legal processes. It serves better when lawyers familiarize themselves to Artificial Intelligence tools and technologies and its working, rather than merely relying more and more on AI and other technologies. This makes trouble shooting easier in case of issues.
  • Attorneys must know the type of duties that can be handled by AI and must delegate other work accordingly. Supervising the AI tools is yet another ethical duty to make sure the work has been done rightly.
  • While using AI-powered tools, legal professionals should make sure that the massive legal data as well as the client details are kept confidential and remain secure at every stage and data breach is avoided.
  • AI must be employed in a way that promotes transparency and fair play among working models.
  • Though AI plays a critical role in making legal services better and cost-effective, attorneys should maintain limitations in using AI as per the legal ethics.
  • Legal Chat boxes are AI powered programs that interact with users who have legal issues by conversing with them. When using these, attorneys should make sure that they don’t raise the issue of unauthorized law practices.
  • When Law Firms leverage modern technology to improve efficiency and reduce labor intensive tasks, attorneys should understand the risks and rewards of artificial intelligence without ignoring ethical obligations.

Get AI ready with PageLightPrime

AI can push down tedious tasks and free up time for attorneys to do legal things that can’t be done using machines and which can make them enjoy their work more thereby serving their clients more effectively.

PageLightPrime deploys Artificial Intelligence solutions in Contract Management solution for lawyers and inhouse counsels to review the contracts for any outliners, missing clauses and non-standard precedents and provide suggested changes. Machine Learning engine will be able to learn different types of contracts and can be trained for different types of practices the legal departments offers as a service PageLightPrime understands the strong and complicated connect between law and ethics and provides the much-needed ethical guidance to attorneys and promoting access to the rules of law. Now is the time to embrace the growing changes – Develop AI practices with PageLightPrime.