The legal industry uses artificial intelligence to examine a massive collection of negotiated agreements and detect any form of risk.
FREMONT, CA: Individual lawyers frequently spend numerous hours on activities like paper analysis, legal study, diligence, drafting of contracts, and determining the likelihood of success of a case. Large sections of such work are vulnerable to automation and will continue to be, but it can be simplified by natural language processing of artificial intelligence (AI).
The legal profession is the least likely to integrate big data and AI in business models, along with the government. The efficiencies modern products bring would be unavoidable as legal technology advances, and the legal industry will be forced to embrace them.
Applications of Artificial Intelligence in the Law
AI technology is designed to identify and analyze language in documents due to which will transform work that once took several days and complete it in lesser time. The opportunity to search extensive collections of documents in search of relevant details is part of what duties like document analysis and due diligence need. The process is accelerated by AI that systematically analyzes the language in such documents.
AI-based software is capable of recognizing types of provisions and their key terms quickly. To complete such a check, the lawyer might run a single, easy search on the site.
AI also assists with the process of writing the contract. AI platforms can examine huge collections of negotiated agreements to determine how often particular clauses deviate from a specific template. If the software's data-driven analysis substantiates the adjustment, an attorney would be in a much stronger place to suggest updating the design.
The latest technology can detect over 30 different forms of risks instantly through a single scan. Features like this would also allow a more productive method for drafting. Less experienced lawyers will now be able to design more efficient document drafts with immediate risk analysis, which would have previously only been possible when an experienced lawyer reviewed a document.
AI is also becoming an essential device in litigation. At University College London, computer scientists created software that examined case information and produced their verdict. The program delivered the same decision as judges at the European Court of Human Rights in 79 percent of legal cases.