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Artificial Intelligence... in the Legal Industry?!


Layout:

  • Introduction

  • Current applications of AI in the Legal Industry

  • Conclusion

  • Credits/Citations



Introduction


Indeed, you heard that right! Aside from the obvious applications AI has in the fields regarding science, mathematics, and other STEM fields, it’s also being integrated into the legal industry!


From tools such as generative AI to gain deeper and a more informed insight into cases or simply just for research, AI is making a swift presence in legal practices.




Current Applications of AI in the Legal industry


AI is beginning to surge through the legal industry. Bloomberg Law states that, rather interestingly, law firms are advising their clients to use generative AI instead of utilizing it themselves (1).


Lawyers are using generative AI, as well. From doing legal research to creating documents for contracts and leases, lawyers can use AI to their advantage to undertake any task! Granted, there are AI and/or machine learning (ML) tools used today by lawyers to undertake these tasks. Using generative AI for legal research has been seen to be fairly efficient and productive. It helps lawyers with searching for important information by utilizing natural language processing and machine learning. 



One other use is in legal document review. Circling back to Bloomberg Law, they have a tool powered by many machine learning tools to identify “... how draft language may deviate from the market standard and to help attorneys answer the question of what language their counterparty usually agrees to” (Bloomberg). AI-powered tools can also complete automated functions for the lawyer/attorney to do other tasks, like negotiating. Contract management powered by AI is yet another tool, just like all the aforementioned, that are being utilized in transactional law. 



Conclusion


The topic of AI, let alone its concept, is heavy. It is impossible to completely explain how it would innovate our everyday world, though without a doubt it will. In the following articles on this blog, further information shall be enclosed to gladly walk you through how AI is changing the Law industry!




Credits







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