How important is AI, anyway?
Quick answer: important. But let’s get into why.
Although nearly 90% of legal professionals in a Bloomberg survey agree that legal tech is important, 70% either don’t have a process in place to evaluate legal tech or are unsure if a process exists at their organization. This article identifies the four increasingly important questions you need to identify the key features to choose a tool to future-proof your legal operations.
Importantly when investing in a the legal management system today it must have AI capabilities. This way, you can make a smart investment for the future of your company, ensuring your legal tech doesn’t become outdated.
The trend toward AI leans toward “humans-in-the-loop” solutions, blending real human expertise with automated software. It has been reported that by 2025, all contract life cycle management (CLM) tools will use AI to scan content in contracts.
Artificial Intelligence will become increasingly vital for in-house legal firms. AI, can improve your team’s workflow, from auto-suggesting text to save time to proofreading important documents for typos, incorrect information, to checking figures on budget lines. AI looks after the repetitive tasks leaving your legal team free for complex tasks that need human attention.
Source: Lexology
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