How Artificial Intelligence In Law Firms Can Benefit Your Practice

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Artificial Intelligence In Law Firms

Law firms are changing because of artificial intelligence. Technology, business, education, real-estate – almost every industry is transforming due to the new trend of artificial intelligence (AI) in the workplace. But almost no industry is being quite as transformed by this phenomena as the legal industry. From information sharing to decision support and assistance in day to day tasks, technology solutions are progressively scaling up to support the transformation of legal functions and meet the new challenges of the legal industry. Many law firms and attorneys have begun to strategize the benefits of artificial intelligence-backed technology. As you’ll see in the list below, AI poses time and money saving solutions for legal practices and firms. In this article, we will explore those benefits and identify ways the legal industry can embrace changes brought about by AI.

Artificial Intelligence in Law Firms Makes Performing Due Diligence Better & Smarter

For law firms, the majority of expenses and time can often come from performing the due diligence that comes along with proving or disproving a case such as retrieving records to uncover a client’s medical history, documentation comparison and more. Using artificial intelligence-backed technology, law firms can perform these tasks at a cheaper cost. As well, AI tech produces high-quality work that isn’t marred by human error. By streamlining these processes, AI technology allows attorneys and law firms to focus on the bigger picture instead of being overwhelmed with tedious tasks.

Artificial Intelligence in Law Firms Reduces Costs & Time

By combining machine learning, natural language processing, and artificial intelligence, lawyers can break apart for the status quo that may be holding many firms back. Everyone knows managing a firm can be challenging. Wouldn’t you want to make it not only easier and less time consuming but more cost-effective? AI does exactly this.

Steve Lohr New York Times article on the matter explains it perfectly, “Technology will unbundle aspects of legal work over the next decade or two rather than the next year or two, legal experts say. Highly paid lawyers will spend their time on work on the upper rungs of the legal task ladder. Other legal services will be performed by nonlawyers — the legal equivalent of nurse practitioners — or by technology.”

Artificial Intelligence in Law Firms Produces Higher-Quality Work and Better Customer Relations

Along with automating processes, AI offers deep analysis into large amounts of data, which can help businesses forecast and predict with more accuracy and avoid short and long-term risk. Attorneys can identify flaws in the structure and process out their internal teams. The benefits don’t stop at internal teams, however. AI is as much about client-facing experience as it is about streamlining workplace processes. AI plays a large role in client relations and, ultimately, in client satisfaction by granting clients greater and more comprehensive legal representation. As AI takes over the minimal tasks, it frees up attorneys’ time and allows them to fully develop a client strategy that keeps them informed, interested and engaged.

In a very real sense, AI-backed technology is transforming law firms. The benefits of artificial intelligence in law firms are expansive and offer a new standard, especially in the legal process outsourcing industry. Smart Legal Solutions LLC has leveraged our own AI solution to deliver better results to our clients whether that be client outreach and services, record evaluation and retrieval, case management, client intake and more. At Smart Legal Solutions LLC, the use of AI is paramount in staying cutting edge and providing law firms with exceptional legal process outsourcing. Combined with our years of medical and business expertise, our customized AI and machine learning-backed technology is the cornerstone of our organization. To us, all the benefits of AI are interconnected and can result in a better business overall. To learn more about how we use AI, contact us today. To stay on top of the latest in legal tech and AI practices, follow our social media and stay tuned for the latest in blogs!

 

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