Robotic Review: The Use of Artificial Intelligence in Contract Review
Wednesday, July 26, 2017 Through the help of artificial intelligence (“AI”), your smartphone can act as a GPS that adjusts its recommended route in real-time based on emerging traffic patterns. By adapting to changes in traffic, the smartphone is able to redirect a driver to a faster route. Now imagine these adaptive capabilities in the legal field. With the potential of AI growing rapidly, the use of AI technology, though still in its infancy, is gaining traction with law firms, helping to provide better outcomes for clients, faster. According to a recent survey by management consulting firm Altman Weil, law firms are beginning to explore AI’s potential. While only 7.5% of surveyed law firms are currently making use of AI, nearly a third of the surveyed law firms have begun to explore opportunities to use AI as a legal tool. The capabilities of AI, whether currently available or on the horizon, suggest that both lawyers and clients can benefit from the legal field’s embrace of AI. This is particularly true with respect to the use of AI in the many phases of contract review: contract creation, contract analysis, and contract due diligence. In the digital age, legal professionals handle increasingly…
Link to Full Article: Robotic Review: The Use of Artificial Intelligence in Contract Review
Robotic Review: The Use of Artificial Intelligence in Contract Review
