“Automation is not just about speed and efficiency. It’s also about reducing risk and improving quality.” – Chris Debrusk.
Technology has revolutionized many industries, and now legal services are being brought up to date with the use of automation. It’s known how automated robots and drones have allowed professionals to do things faster and more efficiently, but could similar advances be applied to the legal industry? Could artificial intelligence (AI) play a pivotal role in ushering in a new era of efficiency for lawyers?
How the Latest Tech is Bringing Old Industries Up to Date
The old industries are getting a tech facelift. Automation is key to this change. To put it in simpler terms, automation means machines doing the work of humans. An Oxford University report suggests that automation could boost annual revenue by $4.9 trillion by 2030 in the manufacturing sector alone.
Digitally enabled automation lets businesses collect vast amounts of data for analysis. It helps companies make precise predictions about stock supply, enrich customer service experiences, and foster better employee involvement. Digital automation makes business operations smooth sailing since it slashes errors from human bias or overlooks something important – making delivery reliable and accurate.
Next on the list is the introduction of drones into the mining sector, which revolutionizes old industry practices. With these flying machines at their disposal, managers benefit from increased surveillance. This includes ensuring staff follow safety rules to operate heavy machinery efficiently.
Drones also aid in monitoring valuable assets like mined materials. Daily tasks such as surveying mine sites or inspecting structural stability are also made more efficient by drone use. Footage from their watchful eyes not only increases productivity but can be accessed anywhere – a useful feature if managers are away from the site.
Impact of AI in the Legal Sector
AI, or Artificial Intelligence, is making waves even here. Consider this eye-opener from Goldman Sachs’ 2023 study: After analyzing US industries, second on the list for maximum risk of replacement by AI was the legal profession. A striking 44% of tasks are susceptible to automation. What’s more? In-house practices are already tasting this future-tech flavor.
Look at contract management – such a pain for any lawyer as it devours time like an endless pit. Enter Contract Lifecycle Management tools powered by AI – not only do they summarize contracts swiftly but they also suggest suitable language modifications.
Now imagine a robot doing an attorney’s job, sounds strange right? Technology has made this possible through AI software tools tailored for law firms. The purpose? To speed up work and save time.
AI takes over simple tasks from junior attorneys. These might be things like research or paperwork. Senior attorneys can then use this ‘robotic helper’ to get their jobs done quicker and cheaper – much like having another junior lawyer on their team but without the hefty pay.
This technology impacts not just those who work within the firm, but also clients seeking services. Consider someone needing help with accident claims in San Francisco, for instance; they could benefit from faster service and potentially lower costs thanks to these technological advancements used by a San Francisco personal injury lawyer.
Technology is transforming law as well as other traditional fields – from improving data processing capabilities through automation to bolstering document search efficacy with AI. As firms employ these new tools cost-effectively they can become better equipped to compete globally.
From improved access control across multiple locations including remote ones provided by a digital transformation platform; there are huge opportunities yet untapped within the secure flow of information management throughout the legal chain process which promises greater client satisfaction at reduced overheads.
Main image by Tara Winstead