Artificial intelligence (AI), along with its related terminology, is rapidly becoming an essential tool for many professionals across various industry sectors, and the legal profession is no different. By automating numerous repetitive, mundane tasks and replacing outdated ways of working using AI, attorneys can work more productively and with greater efficiency, which will increase their confidence and levels of work, as well as enhance client satisfaction in the long term.
How is AI used in the legal profession?
At its most basic, AI is a simulation of human intelligence by a machine, and this opens up a whole world of possibilities. It is being used in many ways in multiple different fields, from simple tools that autocomplete your sentences on email or messenger apps, to highly sophisticated models that are revolutionizing medical diagnostics and treatment, from agriculture to increase crop yield to retail where it can be used to predict buying patterns and trends.
One way that AI is being used in the legal industry is by assisting with document processing and classification for a wide range of matters, including due diligence, document and contract review, compliance, contract management, knowledge management and deal analysis. By automating these tasks using intelligent technology, significant workflow benefits can be achieved, particularly with improved efficiency and productivity as well as greater accuracy.
Reducing risk, improving accuracy
Creating, reviewing and sending various documents forms a large part of the daily tasks of many attorneys. While important, these are repetitive and manual processes and are typically prone to human error, which can introduce an unnecessary element of risk. AI tools give you a competitive edge by improving accuracy and thus reducing risk – while providing attorneys with increased flexibility.
With the power of AI in a tool like HighQ, you can sort files rapidly and seamlessly without needing to manually examine them, which significantly reduces time and effort. Workflows can be automated, with AI tools analyzing, classifying, and storing documents automatically, and AI can also be trained to tag and label documents based on your specific needs. This frees up significant time that can then be used on activities that are more meaningful and will generate greater value.
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Doing more with less
Using AI tools to do the heavy lifting can help you to save time and effort on many ‘bread and butter’ tasks like drafting documents, creating and reviewing contracts, and even conducting research. Computers are significantly faster than people at tasks such as document analysis, able to process thousands of lines of information in a fraction of the time it would take a person. They can also easily be ‘taught’ to generate certain standardized documentation from available information, and to share these with relevant parties automatically.
These tasks are all essential for the daily functioning of any law firm, and by offloading them from people onto machines, your entire firm can become more efficient and more productive. With a tool like HighQ AI Hub handling the analysis, classification and storage of data automatically, your team is freed up to handle other tasks.
Boost your confidence
Due diligence, document and contract review, contract management, proofreading and legal research are all time-consuming tasks that can become tedious and take away from your time and ability to innovate and creatively problem-solve. Using AI tools for analysis and review of documents saves time and allows you to focus on more valuable pursuits, which facilitates enhanced creativity and allows you to focus exclusively on the tasks that only a person can handle – the job you were trained to do and the job you are passionate about.
By allowing your technology to do the heavy lifting, you can reduce busy work and minimize the stress that an overwhelming workload can create. In addition, by reducing risk and human error, you can also be more confident in the results of document analysis, which in turn allows you to make better, more confident decisions. These factors can help to dramatically improve your job satisfaction.
Do law firms use AI?
The use of AI at law firms is no longer a want, but a need. It is changing the way we do business, much the same way as email did in the 1990s. As digital transformation continues to advance, AI will become ubiquitous and an indispensable assistant to practically every attorney, freeing up time for tasks that add greater value such as thinking and advising.
HighQ leverages the power of artificial intelligence to help your law firm achieve all of this and more.