The Computers Aren’t Stealing Your Jobs. They’re Making Your Firm Stronger.
Artificial intelligence (AI) is a concept that many in the profession approach with trepidation, with worries that an automated system will replace the work of an attorney. Can a computer get a client through a complicated real estate transaction? Settle a dispute over personal property? Negotiate a merger? Not a chance. Clients who need legal help require the strategic thinking and expertise that only humans can provide.
While fear of artificial intelligence replacing attorneys is overstated, fear of artificial intelligence is not. Firms whose leadership believes AI is science fiction will find themselves left behind; firms that intend to grow have already accepted AI’s role within legal work and have integrated it into their day-to-day operations.
“It’s not fundamentally changing the way in which the market operates, it’s changing the work that is done and it’s automating for efficiency,” Neota Logic’s Richard Seabrook says in a new download from Microsystems on AI in the legal industry. “It’s making the workers work smarter and faster, and it means they’re costing clients less. That’s where we see the market today.”
Integrating fresh technological approaches like artificial document intelligence (ADI), which uses natural language processing to ensure accuracy in document review, can also help bring in fresh talent. Millennials make up more than 20% of the existing legal workforce, and they’re digital natives. They have grown accustomed to using technology to produce higher-quality work at a more efficient rate, and they will pursue opportunities that support their needs. Firms that choose not to encourage technological development will see their talent pool—and competitive advantage—shrink.
“Artificial document intelligence assists in providing higher quality documents in a more efficient manner. This lets lawyers do what they do best, which is engaging clients and practicing law,” says Avaneesh Marwaha, President at Microsystems. “By adopting artificial intelligence, firms can cultivate growth and devote more time to not just meeting their clients’ needs, but exceeding their expectations and ultimately being better attorneys.”
In a new report from Microsystems, we look at how applications like ADI will evolve the legal industry, freeing an attorney from time-consuming tasks like proofreading or document review to do what they do best: placing their clients’ needs first and focusing on strategy and advocacy. Experts like Seabrook and Marwaha detail trends in AI that will arise in law firms of all sizes in the next ten years and offer advice on why forward-thinking firms must adopt advanced technology now or find themselves left behind in an aggressive market.
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