The positive impact of artificial intelligence in law firms
Eliminating time-consuming tasks
Artificial intelligence and automation can take over a significant part of a lawyer's everyday tasks. Many of these activities are routine, paperwork duties that divert lawyers' attention from the strategic demands of a case.
Accurate prediction of outcomes
Lawyers usually have to predict outcomes for their clients so that the clients can decide whether they want to continue with the proceedings or, for example, opt for an out-of-court settlement. Artificial intelligence developers are creating machine-learning models to predict the outcomes of ongoing cases. Although such technologies are still in their infancy, they are producing encouraging results. Some companies are developing AI-based legal prediction software focused on tax law. They claim that their AI tool can accurately predict the outcomes of ongoing cases with 90% accuracy. These kinds of AI legal tools will change the way law firms handle cases. Law firms will use such applications to develop litigation tactics, speed up settlement negotiations and reduce the number of cases that go before a court.
High-quality work
Work produced by intelligent software - which does not get tired, bored or distracted - can be truly flawless. Specialised document software can improve document organisation and maintain that organisation flawlessly, including all internal cross-references throughout the entire life of the document. Such software can also ensure that language is used consistently regardless of how many lawyers were involved in preparing the document. Through document comparison and machine learning, software such as contract-comparison tools can identify missing provisions, conditions, inconsistently used terminology or vague terms within a single document, and even within a group of similar documents.
Reducing stress
Lawyers have to attend to several clients, review documents, carry out legal research, proofreading, etc. It is exhausting work. Artificial intelligence performs the basic work so that lawyers can focus on creative analysis. It increases lawyers' job satisfaction. The tools help complete tasks quickly and accurately and also help save time and reduce lawyers' work-related stress.
The negative impact of artificial intelligence in law firms
Unemployment
One of the significant disadvantages of artificial intelligence is the replacement of manual work. As a result, professionals associated with law firms may experience increased unemployment. Artificial intelligence can perform many tasks previously carried out by lawyers, such as document review and contract analysis. According to Deloitte, by 2036 approximately 100,000 law-related jobs may be automated. According to the 2016 Deloitte Insight survey, "technology has already led to the loss of 31,000 jobs in the legal sector, but overall there has been an increase of approximately 80,000 jobs, most of which are more highly skilled and better paid", specifically in the field of law.
Unreliability
Minor damage to a machine or software can cause enormous chaos in law firms. Although artificial intelligence could hypothetically be flawless, there is still a threat that some error in the system may occur. In the case of law firms, potential damage could cause problems and, in such a case, also bearing the costs of the damage caused.
Cyber threats
One of the many reasons for concern is the protection of privacy and cybersecurity, which is understandable. According to a recent survey conducted by the American Bar Association, cyberattacks affected 29% of American law firms in 2021. The use of AI in the legal profession raises numerous legal and ethical concerns, such as the protection of privacy, data protection and the potential misuse of AI systems.
In conclusion
The use of artificial intelligence in law firms has both advantages and disadvantages. AI can bring greater efficiency, accuracy, cost savings, more effective risk management and higher-quality client services. However, there are disadvantages of AI in the form of looming unemployment, insufficient accountability, legal and ethical problems, the costs of training and maintenance, and overreliance on AI systems. Law firms must carefully weigh these advantages and disadvantages and decide how best to incorporate AI into legal work in order to maximise the benefits while minimising the risks. Ultimately, AI is a tool that can complement and improve the work of lawyers, but it cannot replace their professional judgement, knowledge and capacity for critical thinking.