There’s a shiny new possibility for legal departments and law firms of the future: robots completing certain legal tasks, thus allowing counsel to focus valuable time and human expertise elsewhere.
According to Forbes, Michio Kaku, a noted theoretical physicist and futurist, predicts artificial intelligence working side by side with counsel — not replacing them. He also stated that the legal job market would shift to include those jobs that AI wouldn’t be able to perform.
Technology is already transforming the delivery of legal services by automating many tasks. For example, the e-discovery tool technology-assisted review is speeding up review and saving money, often millions. (Still not clear on how TAR works or its benefits? Flip to LLM’s mini book for a quick summary.) Some corporate law departments and firms are taking advantage of budget forecasting technology that is available. By looking at current and past data points, software is able to forecast and predict future costs, giving them predictability to make more informed decisions and plan for the future.
In addition to automating many tasks and making the delivery of legal services more efficient, AI may also improve the small businesses and individuals’ access to legal representation. As Forbes states, “AI is a game changer.”