Here is the second, succinct, White Paper on legal AI that Artificial Lawyer / TromansConsulting has produced in conjunction with Thomson Reuters. It follows on from the first ‘cut out and keep’ paper, ‘Legal AI: A Beginner’s Guide,’ (which is still available for download if you would like a copy).
In this paper, ‘AI Now: The Growing Adoption of Legal AI‘, the aim is to explore key issues around the adoption of AI and hear from lawyers making use of legal AI systems today.
It marks an important step change in the legal AI market, with law firms moving from the theoretical to the practical, while also shifting from piloting this new technology to applying it to client matters, which in turn raises new types of business issues, such as: how do you price legal AI; how much of a boost to productivity will AI deliver; and how can it increase my firm’s revenue and profits?
Firms that very kindly were willing to give comment for this public paper include: Slaughter and May, Clifford Chance, Fenwick & West and McCann FitzGerald. Many thanks to them for participating and giving their time.
You can download the paper here and below is the Introduction.
Click here to download AI Now: The growing adoption of Legal AI
There was once an enormous amount of theoretical discussion about Artificial Intelligence (AI) and its impending impact upon the law. But, because law firms are actually now making use of legal AI, rather than just talking about it, the debate is moving on to how to actually benefit from this technology and how best to implement it.
An increasing number of law firms, both large and small, are putting AI systems to use. What is perhaps most critical now is understanding more about the reality of lawyers working hand-in-hand with AI to increase productivity, improve margins and generally become the innovative and efficient providers of legal advice their clients want them to be.
The following is an overview of some of the experiences of those lawyers who have moved beyond theory and for whom AI is now a fact of life and of practice.
Areas covered include:
01 Why adopt AI?
02 Barriers to adopting AI
03 Pricing AI