Find out how AI is reshaping law and the best legal AI tools to help you get started.
Artificial Intelligence (AI) is disrupting almost every industry, including law. This is a broad term, but it’s the science of self-learning software. It takes over tasks traditionally done by humans. For example, here we used an AI tool to write a blog post about AI. (Ironic, isn’t it?)
There’s already a profound transformation happening. Research shows both clients and professionals want to move forward with automation.
- 62% of consumers are willing to submit data to AI if it gives them a better experience
- 61% of professionals claim it boosts productivity
The hype around AI is because of its subsets of machine learning and deep learning – a computing model inspired by the structure of our brains!
So, what does AI mean for law firms?
Incoming associates and clients are thinking digital-first. That means:
- Your customers don’t want to be numbered in a system. They’re looking for a unique personalized service.
- You can work smarter by relying on automation tools (more on this in the following sections).
How Law Firms Leverage AI
Law firms use AI for:
- Mergers and acquisitions – Investing in all-in-one platforms that provide reports, documents, payments, etc.
- Legal procedures – Combining search terms to group and examine papers, locating ‘the needle in the haystack.’
- Contract reorganizing – Locating, examining, and grouping contracts
- Legal document analysis – E.g., reviewing documents for discoverability
The 2 Main Challenges Behind AI for Law Firms
It can’t go without saying AI is a mirror to humanity, revealing some flaws. Because AI tends to “think” the way it’s been taught, some studies show there are some biased outputs related to race, biological sex, nationality, and age.
We’ll start by saying: AI can help facilitate processes but it should not take on the entire human experience, especially human judgment. Some institutes like AI Now are pushing for regulations, especially around sensitive areas like criminal justice and healthcare.
The Best Legal AI Tools To Grow Your Firm In 2023:
1. Review Contracts Faster With Lawgeex
Lawgeex is a contract review automation tool. According to its statistics, firms save 80% of the time previously required when reviewing and approving contracts.
In a nutshell, their AI is pre-trained and understands over 1500 legal concepts, and uses that to analyze the contextual meaning behind contracts. See it in action:
2. Improve the Discovery Process With CS Disco Ediscovery
Lawyers going through the discovery process can leverage AI tools like CS Disco Ediscovery.
Their studies show firms can reduce by 50% reduction their document population size. With it, you can:
- Save time
- Locate evidence faster
- Perform effective early case assessment
- Easily move documents between spaces
- Streamline production (A million-page production can run in as few as 25 minutes.)
3. Expedite the Legal Research Process with Westlaw Edge
Westlaw Edge is an AI-powered legal research tool, from document analysis to overruling risks, litigation analytics, etc. You can check out the different price tiers and features here.
4. Predict Legal Outcomes With Lex Machina
Lex Machina, a legal analytics tool, solves issues related to unstructured and complex legal datasets, specifically for the litigation space.
Their most appealing benefit is predicting legal outcomes. Here’s one example:
- If you need to persuade a judge to grant a transfer of venue, you can check on the trends for all of their transfer orders in prior cases.
They’ve also launched Appellate Analytics, legal analytics for federal courts of appeals. It provides an end-to-end overview of the litigation status (from trial through appeal), thus allowing professionals to evaluate outcomes better. Here’s a sample overview:
5. Find On-Point Cases and Briefs with CARA
According to their study, attorneys using CARA, Case Analysis Research Assistant, save around 210 hours of research time.
It can help you:
- Find on-point cases in your jurisdiction
- Find briefs related to the brief you’re researching
- Check on drafts for missing texts
- Find cases opposing counsel missed, etc.
CARA searches legal papers, statutory provisions, viewpoints, and editorials using a proprietary algorithm, allowing lawyers to investigate more proficiently without worrying about missing ideal cases. Like this:
6. Leveraging OpenAI’s Most Popular Offering: ChatGPT
One of the biggest legal marketing trends in 2023 is ChatGPT, a trained model powered by OpenAI. It is by far the best AI chatbot ever created. It can write cover letters, blogs, and perform various natural language tasks. You name it, you have it!
Check out this viral Tweet showing the tool’s capabilities:
It is an exciting time for law firms looking to experiment and scale up. In the following months and years, we’ll see more firms pushing tech-enabled scalability with the help of AI tools and digital experts.
We hope this serves as a starting point. But what’s next? If you’d like to look into digital assets, discover new growth strategies, and ask more questions, let’s have a chat.