Automation of time-consuming tasks
Artificial intelligence can automate up to 23% of a lawyer’s everyday tasks. These activities are routine, paperwork-based duties that divert attention away from the strategic demands of a case.
The most common use of AI in law is in E-discovery, which consists of checking digital information to gather non-privileged data on a case or claim. Lawyers can use E-discovery software to scan documents based on search terms and other parameters like dates or location.
E-discovery can account for as much as 70% of the cost of any legal action. AI can support businesses in e-discovery processes to prevent them from unexpected issues, by processing large amounts of data, creating relationships with different information assets, and providing insights. This saves time and reduces costs.
Accurate result prediction
Lawyers usually have to predict the results so that their clients can decide whether they want to pursue the case or opt for settlement in court.
There are machine learning models in development to anticipate the outcomes of pending cases.
Document automation and contract review
Creating business contracts is a time-consuming process where lawyers need to manually review, edit, and exchange drafts multiple times. Legal departments usually spend half of their time reviewing contracts.
Legal document automation can save signifiant amounts of time and prevent errors. AI can help generate different types of legal documents instantly. These documents can include business contracts, non-disclosure agreements, wills, and trusts.
AI can also accelerate contract review by leveraging natural language processing (NLP) technologies, analyzing them and highlighting the problematic parts. Manual contract review processes are often prone to errors, so AI can fix spelling mistakes and optimize content to provide shorter but more effective contracts.
Legal research
Legal research is a manual process in which mostly junior associates and young lawyers spend time to conduct research for different cases and understand them accurately. AI can scan through laws and regulations, provide different legal opinions for cases and inform about similar cases.
