Machine learning is the practice of getting computers to think and act like humans using artificial intelligence (AI). Rather than computers using rules-based programming, machine learning uses algorithms to parse data and use it to make accurate predictions.
The aim of machine learning is to build computer systems that automatically improve our experience as humans, rather than doing our jobs for us as most people think. This new technology has something to offer every profession – so why should the legal sector be any different?
Machine learning for lawyers and the legal sector
Machine learning for lawyers offers many benefits for them and their chambers, and it could help small legal firms compete. For instance, human-made data sets can be applied to machine learning to help lawyers unearth relevant documents and opinions that are relevant to their cases. AI applications can also minimise the number of errors in the research process and point attorneys towards essential documents.
Machine learning software can be used to do accounts, recruit staff, draw up contracts and provide simple legal counsel to first time clients. Instead of spending time and money on research and paperwork, machine learning could free lawyers up to engage in more client-facing tasks. The result of AI in chambers would be better efficiency, lower outsourcing costs and instant access to data and insights.
Machine learning for lawyers – The benefits
- Less time spent on routine paperwork
- Money freed up from fewer outsourced tasks
- Greater efficiency
- More accurate data – less human error
- Legal services become price-predictable and more accessible for clients
- Less stress for lawyers
- Ability to handle more data
- Higher revenue – A recent report found that businesses who invested in AI and machine learning could see an estimated 38% revenue boost by 2035.
Will machine learning replace human lawyers?
Machine learning isn’t as simple as letting computers do all your paperwork, nor will robots take over the jobs of human lawyers. An integrated approach to machine learning is needed to maximise efficiency and minimise risk in the legal sector. This means humans and machines working together.
“ AI will never fully replace people, particularly highly skilled people. But it can be used to automate routine tasks. Technology firms like Atrium are using AI-based software to complement and enhance a service that’s already being provided by humans, which can be easily duplicated by a machine.” – Gene Marks, The Guardian.
Legal machine learning in action
A great example of legal AI in action is the service provided by Atrium. Atrium is a corporate law firm that leverages AI technology to do much of the legal work required by startups. Their services help new business owners hire employees, raise equity and write up legal contracts. Atrium’s software uses machine learning to understand legal documents and automate routine processes.
For lawyers, the most successful uses of machine learning utilise both technology and human expertise. Supervised machine learning could help lawyers become more efficient and improve the accuracy of their research, as well as giving those competing in the legal sector an edge on rival chambers. For more information about what AI and machine learning could bring to your chambers, contact City Business Solutions on 020 3355 7334.