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How Analytics Is Shaping the Current and Future Practice of Law
Anyone following the news headlines of late is aware that artificial intelligence (AI) is being heralded as the technology that will transform industries far and wide — including the legal profession. The potential for AI and other advanced technologies is vast. The evolution of technology in the practice of law today has already led to significant advances in data analytics and data visualization, each of which are having a significant impact on legal work. The nature of legal work today and the need to consume vast amounts of unstructured text make our profession a ripe target for the promise of machine learning and artificial intelligence.
The legal landscape is also evolving rapidly. Tighter budgets and higher client expectations are forcing law firms and in-house legal teams to constantly improve productivity and efficiency to maintain a competitive edge. Corporate clients understand the value of experienced, highly skilled legal minds, but are increasingly reluctant to pay top hourly rates for work routinely performed by junior law firm associates as they assemble and organize evidence, conduct research and begin drafting documents.
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