There is a view that traditional law firms won’t survive the artificial intelligence revolution. Thomson Reuters research tells us more than one in four large UK law firms believe advances in artificial intelligence pose a significant threat to their profitability. The way law firms are structured is holding them back from investing in game changing tech.

Research by Professors at Oxford University found that only 27% of respondents used artificial intelligence based technology. Yet around the legal world alone we are witnessing a major shift in how legal teams work with artificial intelligence. 

As long as four years ago China used artificial intelligence to review over 3 million cases – they now use full artificial intelligence decision making. 

A Canadian court capped recovery costs in a personal injury case, saying discovery expenses would have been reduced had attorneys used artificial intelligence. 

To help remove some of the mundane legal work we as a company are developing simple artificial intelligence digital products for online Wills and Employment Contracts – tell our chatbot specifically what you need and it gives you legally binding documents there and then.  

Artificial Intelligence is used in law practices across the world and this will only grow. Lawyers fear artificial intelligence technology will replace their career, but no technology or robot will do that.

Artificial intelligence will help improve profits

There are many companies or individuals who simply can’t afford to pay for legal services. It’s generally regarded that artificial intelligence systems will allow firms to deliver their legal services efficiently. Therefore more clients will be able to afford the legal services law firms offer, which is always the complaint most have around buying legal services.

Why Law firms need to start now 

Artificial intelligence systems are self learning, meaning the earlier you include it, the more advanced it will be as it learns from every transaction. For those law firms who have started using artificial intelligence in their practice it’s already making them harder to compete with. 

What’s different about artificial intelligence compared to other disrupting tech is others have benefited from the hard lessons learned by early adopters. Artificial Intelligence systems take time to setup and trained in your specific practice areas. So, of course earlier adopters will be further ahead of the competition. 

Lawyers who use artificial intelligence will replace lawyers who don’t. It helps lawyers to do their work faster and more efficiently that then creates happy clients and more profitable law firms. Here’s a scary thought for some, old school law firms who don’t invest simply won’t survive.

If you are interested in learning more about Artificial Intelligence and Machine Learning chatbots we’d love to discuss how they can help your law firm.

 
 
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Founded in 1995 based in Edinburghs' tech community, WEB is a company with a focus on simple digital products design for Law Firms with AI & machine learning chatbots - it's team includes design, software engineering and online marketing.
 
 

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