As Artificial Intelligence continues to transform the world and equip people with cutting-edge technological tools that were not even imaginable a decade ago, heated debates are going on in the global legal landscape to determine whether AI is good or bad for their practice.
To date, the ethical integration of AI-powered tools and algorithms into legal practices is a topic that is yet to be settled by major stakeholders in the industry. While some lawyers have refused to advocate for artificial intelligence law firms, there are quite a good number of legal luminaries who are ready and willing to test the waters. According to the consenting few, if the legal world fails to understand and leverage Artificial Intelligence in legal representation, it could be considered a deficiency in no distant time.
Reasons Why AI Law Firms Should Be Considered
There are a plethora of reasons why Artificial Intelligence tools should be incorporated into the legal system.
Using AI Tools Save Time
Time-saving is counted among the most recognizable benefits of leveraging AI in law firms. Before the advent of Artificial Intelligence, the traditional legal system relied on human labor to sort through complex cases which is time-consuming. Just to browse through summaries can take a while but rather than wasting time drafting legal documents, AI can help you churn them out within a few minutes. By so doing, an AI lawyer will be able to free up enough time to polish the documents. If AI is properly integrated into legal practice it has the capacity to save many hours for staff.
There are legal platforms like Mighty that have already perfected the act of using AI in legal practices to save time. This is mostly beneficial for accident victims who are seriously considering seeking compensation, mighty.com is equipped with a sophisticated accident injury payout calculator that has the capacity to analyze vast data points like medical treatment, injury severity, and economic losses, providing clients with a more precise assessment of possible compensation.
Cost Effectiveness
In addition to freeing up enough time for legal firms, integrating AI tools into legal practice is also cost-effective. Legal AI in law firms have the capability to do the work of multiple paralegals effectively and ultimately, this saves significant labor costs. In such firms, the tougher problems can be left for some talented associates to tackle while the generic ones can be dealt with using AI tools. A relatively small investment, AI can make a law practice more profitable
Broader Access
Another great reason why some big names in the legal industry endorse AI is its broader access capability. There are special cases where legal AI can offer practitioners access to wider outcomes, including more total information. When you properly integrate the best Artificial Intelligence tools, they can search out cases, laws, and any other legally relevant data from an array of sources, thus, instead of being limited by one database, you can enjoy extensive data access.
Alleviate Tedious Responsibilities
Most of the responsibilities that legal practitioners take on daily are quite tedious but with the help of AI tools, a significant amount of these tiresome responsibilities will be alleviated. Thanks to Artificial Intelligence’s ability to accelerate and streamline tedious tasks, the paralegal landscape is going through massive reformations. If your work is dull, repetitive, and predictable, it can be automated by AI, sparing you the boredom and stress
Enhanced Accuracy (With a Caveat)
When generative AI tools are responsibly used in law firms, it can boost the company’s overall accuracy. When it is properly wielded, Artificial Intelligence can aid practitioners in spotting issues, identifying errors on time as well as sculpting legal documents and official papers to perfection.
Reasons Why Legal Practitioners Shy Away From Leveraging AI Tools
While perusing the benefits law firms gain from AI, we also consider the challenges that have kept technological innovation from having 100% of the votes of stakeholders in favor of an ai law firm.
Inherent Limitations
Though AI tools can create intelligent and humanlike behavior, it cannot do everything. For now, lawyers still need to be physically present for case defence as generative AI cannot represent people in court, neither can it negotiate on anyone’s behalf. When it comes to document drafting and research, AI still lacks some capabilities to complete certain tasks.
Security and Privacy Concerns
Security and privacy issues are not to be trifled with in the legal practice, Experienced lawyers go the extra mile to maintain the security and privacy of sensitive client information. Before letting AI tools loose in a law firm, lawyers should endeavor to do some due diligence to ascertain the legal AI tools that are most reliable.
AI Hallucinations
Artificial Intelligence can hallucinate, it can even concoct facts instantly which are presented as true. At least, one legal practitioner has landed himself into trouble after leveraging Artificial Intelligence to cite a court case that never really existed. As an experienced legal practitioner, do you still think AI is good for legal practice with this kind of shortfall? Your answer may be an unequivocal no but there is a way around it. All information that AI presents must be validated before it can be put to use – an extra measure to prevent AI hallucinations-associated issues.
Ethical Concerns
Considering this, lawyers and the legal practice have to be aware of possible ethical concerns that are associated with using Artificial; Intelligence. Being relatively new in the field, there isn’t much guidance and regulations on how the legal sector should implement AI
Wrapping Up
The debate on whether Artificial Intelligence should get 100% votes in the legal sector still rages on as more practitioners continue to experiment with this cutting-edge technology. However, considering the fact that the benefits currently outweigh the drawbacks, some lawyers can still go ahead and give it a try but recommendations are that they should be careful with AI-associated tasks and information before implementing.
Source: Mighty.com
