The Impact of Artificial Intelligence in the Legal Industry
The transformation of industries through Artificial Intelligence (AI) is undeniable, and the legal industry is not exempt. According to FirmLaw, roughly 23% of legal tasks, particularly those repetitive in nature like data collection and data processing, could easily be automated. While there’s a fair bit of apprehension in the legal community about the effects of AI in law firms, it’s important to understand that the jobs currently being automated are often menial tasks.
A major contribution of AI in law firms is in reducing workload by assisting lawyers with tasks like legal research, documentation, and predictive analysis. This article provides an in-depth understanding of AI lawyers, their implications for the industry, and a glimpse into the future of legal artificial intelligence.
What is an AI Lawyer?
An AI lawyer, also known as a legal chatbot, is an AI-powered app designed to perform a variety of tasks such as legal advice and assistance provision. AI legal systems were developed to assist human lawyers in managing monotonous tasks, freeing them up to focus on more important aspects of their practice such as client representation and networking.
Tasks that AI lawyers handle include but are not limited to, instant legal research, drafting legal documents, and document review. They combine technologies like artificial intelligence, natural language processing, and machine learning to provide valuable legal guidance and aid to human lawyers.
AI Attorney Salary
The earnings of an AI lawyer largely depend on the platform you’re using and the subscription plan you opt for. Platforms like DoNotPay charge $36 bi-monthly for its services, while access to Westlaw Edge’s services starts at $148.85/month.
Best Law Schools for AI Law
With the evolving landscape of the world, many schools have started offering courses in AI Law, which focus on the opportunities and challenges in the field. Some notable law schools offering AI Law programs are:
- Harvard Law School: Recently, Harvard and Berkman Klein Center announced a new initiative for AI and law. The program focuses on the opportunities and challenges law will face due to AI.
- Stanford Artificial Intelligence & Law Society (SAILS): SAILS is designed to increase student awareness of legal issues associated with artificial intelligence and machine learning. It encourages cross-disciplinary collaboration.
- Yale Law School: Yale recently introduced a new program called “Artificial Intelligence, the Legal Profession, and Procedure”. This course focuses on how AI impacts the litigation practice.
Best AI for Lawyers
There are several AI tools that law firms can utilize to simplify tasks and provide solutions for numerous legal issues.
|AI Lawyer||Contact helps save lawyers time allowing them to focus on more important and complex tasks.||Basic plan starts at $9.99/week, Golden choice at $19.99/month and Big case at $99.99/year.|
|DoNotPay||DoNotPay helps users fight against big corporations, protects their privacy, and overcomes bureaucracy.||Users need to create an account on the platform or log in to their existing account.|
|Latch||Latch helps develop legal supports such as creating redline suggestions, revising, and checking whether the clauses generated are appropriate according to market levels or not.||Users can sign up for a demo.|
How Artificial Intelligence is Affecting Lawyers
Artificial intelligence, with its ability to analyze complex legal matters and construct perfectly articulated legal paragraphs within a matter of seconds, is certainly impacting the jobs of legal associates. The advancement in AI technology and its increasing competence has somewhat unsettled the legal fraternity. Yet, AI cannot replace humans in aspects like court advocacy, ethical decision-making, and negotiations. AI, therefore, is likely to influence but not replace lawyers.
In conclusion, artificial intelligence is revolutionizing the legal industry. Its usage extends from simplifying legal processes to providing insightful analyses, thus making a significant contribution to the field. However, it cannot entirely replace humans in this field and will still require the human touch and experience to navigate complex situations and make key judgments.