In 2017, I was introduced to ROSS Intelligence, a legal research platform powered by artificial intelligence (AI). At that moment, I realized that the future had arrived.
Ross, an artificially intelligent lawyer, was designed to enhance a lawyer’s cognitive capabilities, including the ability to learn, remember, organize, plan, solve problems, perform research and answer questions as part of the discovery process. Today, AI is integrated into almost all legal and business processes in law firms. And with each advancement in ChatGPT and other generative AI, the future of the modern law firm is yet to be discovered.
The most commonly used forms of AI today are algorithms and machine learning. Deep learning algorithms have made significant progress in recent years, thanks to the mass availability of data, and have enabled new applications, allowing AI systems to see, hear, read and analyze on a greater scale.
AI is believed to be the driving force of the fourth industrial revolution and is affecting or will soon affect almost every sector of the economy and society. According to the World Economic Forum, nearly half of all jobs may be automated in the near future, and an estimated 60% of all jobs have at least some tasks that could be automated. Actively involving the workforce in the development, adoption and implementation of technology can result in systems that are more practical, innovative and effective — and may lead to better work-life balance for employees.
“Actively involving the workforce in the development, adoption and implementation of technology can result in systems that are more practical, innovative, effective — and may lead to better work-life balance for employees.”
In fact, AI is now commonly used in almost all business operations and embracing it in law firm operations can improve efficiency, accuracy and cost-effectiveness. In human resources, AI is used to automate screening processes in recruitment, support personalized staff onboarding, provide targeted training courses, assist in staff compliance monitoring and assess employee sentiment to predict potential future risks. In finance, AI is used to monitor organizational performance by identifying financial issues, exploring alternatives to reduce major risks, supporting e-commerce and making financing or credit decisions more diligently by using data analysis and predictability models.
AI also supports business development, marketing decisions and client services. Digital platforms use machine learning to offer services personalized to client preferences. Internal marketing teams use AI to monitor and analyze data and client preferences, improve lead conversions by offering personalized service recommendations, analyze current market trends to build growth strategies, provide insights into market trends and develop more targeted marketing campaigns.
In law, according to a recent ABA Journal article, AI is changing the way lawyers think, the way they do business and the way they interact with clients. AI-powered legal research and discovery platforms are helping lawyers become more efficient, and consequently, firms more profitable. Thomson Reuters, Lexis Nexis, Luminance and vLex are some platforms powered by AI algorithms. Plus, AI is already speeding up legal research and e-discovery for litigation support, and may soon identify suitable jurors or predict judicial outcomes.
Contract management is another area where firms are applying AI. In fact, AI-powered contract management tools can help law firms manage and analyze large volumes of contracts more efficiently, identify potential risks, flag compliance issues and help lawyers draft new contracts more accurately.
Despite AI’s many advantages, there are still skills that it will not be able to replace. Critical thinking, creativity, and soft skills such as empathy, emotional intelligence and the human touch are needed in leadership positions now more than ever. AI may make our jobs easier, but it can’t replicate what makes us effective leaders and colleagues.
Tune in to Legal Management Talk, where we sat down with Matthew Sullivan — Chief Operating Officer at Sullivan Law & Associates, Founder and Chief Executive Officer of consulting firm Unravel Legal and a member of ALA’s Professional Development Advisory Committee (PDAC) — to discuss how ChatGPT and other forms of generative AI can improve efficiencies at firms as well as ways legal administrators can use this tech now.