AI is now a tangible reality, offering the legal industry an opportunity to revolutionise day-to-day legal processes. The landscape of the legal sector is shifting with innovation and data driven automation moving ever closer to the heart of litigation delivery.
AI is predicted to become more widely adopted in the coming years. We can foresee that it will transform transactional and advisory practice teams as traditional players might reduce in number. In light of the rapidly evolving legal landscape, we have conducted a survey of industry professionals to gain an insight into the current trends in AI investment, implementation and impact.
Download this exclusive trends report and get answers to:
- What are the biggest challenges law firms and in-house counsels are facing in regards to AI and related tools?
- What are the next priority areas to invest in?
- What are main objectives when acquiring a new AI tool?
- When are law firms and in-house counsel seeking to invest in legal AI?
- Difficulties faced by legal AI professionals when getting management to embrace AI
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Compared to other ‘non-production’ industries, the legal operations industry seems to be a latecomer to the world’s chase of RPA (robotic process automation), AI (artificial intelligence), ML (machine learning) and predictive analytics.
The responsibility for the suppositional tardiness (at least partly) is the ‘silos’ mode in which legal operations existed until early 2010. The job of legal advisors was to tell the business what is legal and what’s not. And topics of business partnering, efficiency and automation were nowhere on the radar.
Listen to our free podcast to hear the CFO/CAO of the BNP Paribas Poland Operations, Marcin Nowakowski’s industry evaluation on the three biggest obstacles in automation and AI adoption in the legal industry.
Marcin has over 20 years of experience in service sector, including finance, legal, procurement, risk and compliance operations. He also has more than 10 years of outsourcing experience, and a coordinator of change management and legal project management groups.
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At the LEGAL AI FORUM 2018, Jonathan Patterson, Managing Director & Head of Development, DWF Ventures, presented a session on "Legal AI: Setting Expectations and Engaging the Board".
Many of the same rules apply when securing buy-in from board members as with all other employees.
It is critical to demonstrate how technology ties into strategy and the implications of implementation through a balanced, reasoned set of arguments. Particularly at board level, it is critical to have enough facts and data available to support your case as ultimately it is about considering what the board wants to know and helping them fully understand why they should be interested in investing. “It is fairly simple in the sense that it's just a reasoned conversation where you're trying to persuade a group of people to do something", states Patterson.
It is also important to consider that board members will approach implementation from a slightly different perspective, more often than not one which is much more strategic and financial in its orientation. “Having some of the firm's major clients echoing your points seems to have magnification in terms of value at board level", says Patterson, as ultimately firms are built on their customer base.
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