Is AI disrupting the legal sector?

While most of the industries & corporate functions have already undergone technological transformation, legal sector due to its tie to unstructured data has remained relatively untouched, relying heavily on expert professionals. Just until the emergence of generative AI (GenAI) & large language models, which possess the potential to disrupt the whole legal industry.

From automating routine tasks to augmenting & providing valuable insights, GenAI is expected to transform the legal sector, challenging traditional practices & unlocking unprecedented opportunities. With its ability to automate, analyse, extract & summarize it is enhancing efficiency, accuracy & scalability by taking over tedious, time-consuming tasks enabling the professionals to focus on more complex & strategic aspects.

Before we dive deeper into the world of generative AI in the legal sector exploring its potential, implications & the opportunities it offers to legal professionals & the industry at large, we fell the need to highlight the data privacy demand. As large volumes of confidential data, including client & corporate information, case details, together with strategic insights, are at risk of unauthorized access, misuse, or theft ensuring the privacy is vital.

Having all these in mind, choosing AI tools or services does not come easy. Fortunately, there are many offerings ranging from very specialized ones, addressing a certain legal process, to rather broader ones able to accommodate & integrate any very specific demand as well as automate almost any process, just as MimerAI. The final decision on how to integrate AI into legal framework should be informed, strategic, empowering & unlocking the full potential.

The curated use cases list below is a product of MimerAI’s collaboration with multiple leading Nordic legal firms as well as corporate legal departments. As Goldman Sachs estimates, AI has the potential to automate up to 44% of legal tasks, one of the highest across all industries, integrating AI in legal services for both law firms & legal corporate departments, presents an extraordinary opportunity & matter of staying relevant.

Now, let’s look at some of the use case we find relevant, impactful, and bringing in the value for both professionals & their clients.

Legal research redefined.

How much time on average is spent searching for needed information?

AI-powered Assistant absorbs all the data you provide, from all the sources, structured & unstructured, then it instantly retrieves needed actionable insights saving time ultimately allowing legal professionals to focus on value-adding tasks instead. The Assistant’s knowledge base can be defined for different roles making them specialized within a certain field.

Legal framework changes & updates made easy.

Efficiently stay on top of all the changes & updates of the legal framework by automating process of monitoring multiple sources of relevant information, analysing, extracting & summarizing changes for real-time alerts & updates of the knowledge base. This substantial time reduction enhances efficiency & ensures increased accuracy, enabling legal professionals to navigate the complex landscape of legal regulations with expertise.

Adopting this approach strengthens legal operations, allowing quick adaption & maintaining compliance in the ever-evolving regulatory landscape.

Streamlined due diligence.

As due diligence involves conducting a comprehensive investigation & sifting through vast amounts of data to identify relevant information, GenAI together with intelligent automation can be leveraged to streamline these processes, identifying relevant information together with potential issues then flagging them for further review. This not only saves time but also helps to identify potential risks & mitigate them before they escalate.

Court case preparation.

Leveraging specific instructions, defining different roles & angles, GenAI can be used to simulate different scenarios, questions & outcomes, enabling legal professionals to anticipate potential risks & timely develop effective mitigation strategies. Overall, GenAI with different roles prompting has the potential to revolutionize the way legal cases are prepared & handled, improving efficiency, accuracy, & the outcome.

Improved communication with clients & stakeholders.

GenAI enables personalized communication & recommendations considering client’s legal history, case details & risk profile. Using AI legal professionals can provide customized legal advice, including potential legal risks, available legal options & potential outcomes, providing a more accurate assessment of the legal situation, empowering clients to make informed decisions.

Legal marketing & client acquisition.

By leveraging GenAI to understand the characteristics, needs & risk profiles of potential clients, legal firms can invest their marketing resources efficiently, reaching targets who are more likely to require their legal services. Similarly, GenAI enables creation of legal content for blogs & social media helping law firms establish themselves as authorities in their practice areas.

Moreover, AI can identify emerging legal issues, client preference shifts & growth of competition areas. Armed with this data, law firms can adapt their marketing strategies, identify opportunities & tailor their messaging.

Efficient document analysis & review.

GenAI can assist legal professionals in reviewing & analysing legal documents, including contracts, legal brief etc. While manual process is time-consuming & error-prone, AI algorithms can quickly analyse large volumes of documents, identify, extract & summarize relevant information. This not only saves time & effort but also reduces the risk of human error, ensuring that all relevant information is analysed & used to support the legal argument.

Case management & workflow optimization.

AI has the potential to automate a wide range of tasks, such as data entry, document drafting, and scheduling (automatically extract information, populate databases, generate standard legal documents & schedule appointments or court dates). Intelligent agents can further assist with case prioritization based on their relative importance, complexity, deadlines, as well as tasks coordination & efficient resources allocation to ensure the projects stay on track & within budget allowing legal professionals to concentrate on more complex & strategic aspects of their work.

Improved knowledge management & onboarding.

By introducing a central knowledge base, all the data is simply a question away, enhancing operational efficiency & elevating decision-making. Consequentially, the onboarding process of new joiners is much easier, making them operational much quicker.

The road ahead.

As a general rule of thumb on where to start is setting the strategy first, conducting ROI analysis, evaluating properly the opportunities as well as the risks. Unlocking the full potential will require a combination of multiple specialized AI tools or an open & flexible platform able to deliver on all selected use cases.

MimerAI can be used as the only AI solution as a hub for all defined use cases, or as complementary to the very specialized ones, covering the areas & use cases which the closed, specialized solutions could not. As we offer the possibility to run locally AI models, confidential data never leaves premises, while the openness of our platform enables automation of any workflow & integration with any system.

Simply get in touch with us directly to get the most out of AI for your legal operations & business in general.

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