"Smart software is going to infiltrate the workplace in heretofore unexpected places." In this article for Legaltech News, John Waters covers the advent of artificial intelligence and a number of its implications for the legal industry.
“The good news for law firms is that software is already beginning to take on many of the routine and predictable tasks of the profession,” says phenomenon author and futurist Martin Ford. According to Ford, “machine learning is poised to impact the legal sector.” Ford explains machine learning technology, and how eBrevia is using it to reinvent contract review:
“Machine learning” refers to software that can learn from data and act without being programmed—think email spam filters that learn to recognize junk or self-driving cars. One vendor developing solutions in this area is venture-backed startup eBrevia. The Stamford, CT-based company leverages AI research from Columbia University to develop solutions that employ machine learning technology to automate such processes as due diligence, contract management, lease abstraction, and document drafting.
As artificial intelligence solutions continue to be developed, it's likely that law firms will increasingly leverage AI tools in machine learning, data mining and predictive analytics to improve their practices.