The advancement in Natural Language Processing specifically Large Language Models (LLM) has led to the breakthrough adoption of AI in Law and Legal Services.
Experts expect that legal firms spending on AI will reach $85 billion in 2027* and will be used in more applications and use cases in various legal fields from Criminal Law, Civil Litigation, Intellectual Property, and Corporate Law, to Tax Law.
Criminal Law has used predictive crime mapping algorithms to reduce crime rates. Some courts have turned to AI to manage parole, using risk assessment algorithms to determine if a defendant is too high risk to be granted parole.
Civil Litigation cases such as contract disputes or force majeure claims require hours of due diligence. AI can help take away manual hours dedicated to analysing and reviewing contracts.
Corporate functions like mergers, acquisitions, and compliance make AI indispensable for doing the due diligence process. Tax law is another data-heavy and complicated field and AI promises a lot of potential in detecting fraud and tax avoidance.
AI Use Cases for Law and Legal Services
E-Discovery
AI can be utilised to scan electronic information to obtain non-privileged information relevant to a case or claim. Quickly sift through large volumes of documents, emails, and other digital records to find evidence, scan documents using search terms or specific parameters, such as dates or geographic location, significantly reducing the time and costs associated with manual review. Lawyers will get significantly faster responses and results compared to scanning hard copies.
Accurate Legal Research
Assist legal professionals in conducting comprehensive legal research by analysing vast amounts of legal documents, court cases, quickly scan and search large databases of regulations, statutes, practice areas, jurisdictions, case laws, and more. Lawyers can gather data accurately in a significantly short amount of time to help them understand precedents. Conducting more comprehensive research at faster speeds saves lawyers time and saves clients money.
Accelerate Due Diligence & Contract Analysis
AI enables automated document review and due diligence processes. Natural Language Processing (NLP) algorithms and Large language Model can swiftly analyse and categorise contracts, agreements, and other legal documents, identifying potential risks, anomalies, or key provisions. This automation expedites the review process and improves accuracy, allowing legal professionals to focus on higher-level analysis.
Litigation Analysis & Prediction
Determining the viability of litigation or quantifying the value of a lawsuit requires extensive analysis of precedent-setting cases. AI can analyse large volume of historical case data, including court decisions, judge behavior, and case facts. By identifying patterns and correlations, AI systems can provide lawyers with insights into the strengths and weaknesses of their arguments, allowing them to make more informed decisions regarding litigation strategy. Lawyer AI can quickly review those precedents and help lawyers draft more accurate and appropriate documents based on that data. This also helps predict the results of imminent cases by taking into account the factual pattern of the case as well as the bulk of relevant paradigms.
Real-Time Transcription and Summaries & Court Support
AI-powered transcription services can automatically convert spoken courtroom proceedings into written transcripts in real time. This capability helps lawyers and judges keep track of the proceedings, review testimony, and refer to specific statements during cross-examination or closing arguments. AI can also generate summarised versions of the proceedings, saving time and facilitating quick reference.
Language Translation
Natural Language Processing and Large Language Model have greatly improved the automated translation capabilities of AI. This can be used to aid in the translation and localisation of legal documents, assist in converting contracts and legal texts from one language to another, ensuring accuracy and consistency in the translated versions. This can also be utilised in automated translation during court hearings.
Drafting Documents, Generating Template & Contracts
AI can automate the process of document generation by leveraging large language model and machine learning techniques. By analysing inputs, prompts, or user preferences, AI can generate draft documents, including contracts, agreements, and legal forms. These drafts can serve as a starting point, saving time and effort for lawyers who can then review and customise them further.
Other AI Use Cases of Large Language Model in Law and Legal Services
- Capture Voice to Text, Summaries, Detect Tone, Sentiment and Keywords/Themes
- Document Management and Automation
- Predictive Modeling for Case Outcomes
- Compliance and Monitoring
- Support Contact Centre Agents or Inexperienced Employees
Benefits of AI in Law and Legal Services
Provide a Better Client-Centered Experience
AI-driven solutions and LLM tools create time and labor efficiency, giving lawyers more time to spend directly with clients and fostering meaningful relationships. With more time at hand, Lawyers can get to know their clients better and truly understand how and why they need legal assistance.
Increased Productivity
AI-driven processes eliminate labor-intensive, time-consuming activities to boost productivity, whether searching for a contract, conducting due diligence, or creating an invoice. When lawyers become more efficient, they can focus more time on their clients—while increasing the time spent on billable work.
Improved Accuracy
AI can be used to scan large volume of legal documents, contracts, and other documents more effectively than manual review to help lawyers identify potential risks and opportunities. With AI, errors attributed to human-errors and oversight, detect inconsistencies, and ensure compliance to relevant regulations and standards.
Achieve Better Outcomes
With AI’s advance analytics and predictive analytics capabilities, lawyers and firms will have on their disposal the capacity to playout different scenarios for better outcome based on results of imminent cases by taking into account the factual patter of the case as well as the bulk of relevant paradigm.
AI offers immense potential to improve efficiency, accuracy, and accessibility within the legal profession. By automating time-consuming tasks, augmenting legal research capabilities, and providing valuable insights, AI technology empowers legal professionals to deliver better services and achieve better outcomes.