AI
To assist. Not replace.
Traditionalists may argue that AI has no place in the legal profession. Lawyers, be they corporate or litigation, are hardly ever early adopters of technological advancements, and yet, the industry is in need of major change if it is to keep up with the influx of data used across corporate business.
From a legal perspective, this data can be a help or a hindrance – ranging from Intellectual Property, ownership of which may need to be proven or contested in court, regulatory compliance for such diverse requirements as GDPR, Modern Slavery and Bribery, through to operational data which informs company valuations during M&A activity.
A better use of lawyers’ time
Your lawyers may be used to putting in long hours, but there are more valuable uses of their time than sifting through operational data, searching through legal directories for precedents, or processing documentation. And the hard work doesn’t stop there: once found, data is likely to need explanation and context before it is of any legal value, and that context may not be immediately obvious.
Here is where the true value of AI pays dividends for legal firms and their clients: where the traditional approach may be to push such tasks to a junior associate, it can be a slow, expensive process and one prone to risk of documents and data being misconstrued or missed altogether. AI tackles all three of these issues in one: By its nature it can rapidly search, uncover, and contextualise data across a range of sources and evaluate its value with regard to any given case or position.
By implementing our intelligent DPA solution, lawyers can save time and let AI take the reins on their process automation, enforcing policies and self-improving automated tasks. That means parties on all sides can move forwards more rapidly, client bills are lowered, and junior associates can develop their skills on higher value projects.
Maintaining and monitoring regulatory compliance
A growing challenge for many in-house legal teams is the increasing amount of legislation and regulation which public companies must adhere to. This can range from working time directives and modern slavery through to data protection, gender pay-gaps and anti-bribery.
What’s more many of these regulations necessitate adherence throughout the supply chain. In a global business, with staff, suppliers and subcontractors dispersed across many jurisdictions, this quickly becomes unmanageable.
Leveraging neural networks and deep learning technology, Quantum AI’s tools enable you to regain sight and control over reportable data, enabling any compliance failings to be identified, corrected, and if necessary reported to the relevant official body with minimal delay. That can mean millions of potential savings in fines and lost business, and frees internal legal teams from the drudge of manually managing data compliance.
Law is nothing else but the best reason of wise men applied for ages to the transactions and business of mankind.
Abraham Lincoln
A Courtroom Crystal Ball
We’ve seen the value of being able to gain a full understanding of past and current datasets, but in the high-stakes world of litigation, AI can play a different role. Leaning on statistical analysis of similar cases, of judges’ previous decisions, and an ability to run advanced game theory, AI has the potential to attribute a case’s likelihood of success, and potentially find shared common ground between parties before they get to the courtroom, again lower cost, reducing preparation time and, ultimately finding resolutions to challenges more swiftly.
Legal firms that adopt AI are able to make faster decisions, more confidently.
BRINGING ARTIFICIAL INTELLIGENCE AND DATA ANALYSIS INTO THE COURTROOM
Roles for AI in the legal sector
Document Automation
Actively draft, track and manage changes in legal documents, link automatically to related papers and apply learnings from precedents. Taking the strain out of mundane, repetitive paperwork and speeding up business efficiency.
Intellectual Property
AI tools guide lawyers in analysing large IP portfolios and drawing insights from the content.
Data Discovery
Within any large organisation, data is often unstructured, held in multiple silos, or in places not easily accessible by the legal team. AI removes this obstacle by proactively identifying relevant datasets across your entire IT estate.
Predictive technology
Leveraging game theory and deep statistical analysis, AI can help inform the decision whether to bring a case to court or seek other forms of remediation.
Global compliance
Remaining compliant is key and AI can learn your compliance responsibilities at a global and regional level. Automate the application of appropriate tools to ensure your processes, staff and partners comply with those responsibilities.
Confident Due Diligence
AI helps to rapidly understand any situation by analysing past events and communications trails, enabling lawyers to advise clients more confidently.
