7 Things Legal Professionals Need to Know About AI
At Thomson Reuters, we’re committed to being on the forefront of artificial intelligence (AI). We deliver legal AI solutions to help legal professionals work smarter and more efficiently. Here are seven things you need to know about legal AI:
1. It’s all about the data
Every process in an organization generates data, and AI is built on data. But to avoid “garbage in, garbage out,” existing data may require some “data hygiene,” and you may need new processes that ensure future data is clean and actionable.
2. AI is not just one technology
AI is not a single thing. It’s a number of different technologies working with different data sets to accomplish different things. Defining the problem first will help you find the right AI solution.
◄ AI technologies can be utilized and combined in different ways to: sense, comprehend, and act.
3. It’s not magic, it’s just software
Although it has a highfalutin name, artificial intelligence is really just the algorithms and technologies that product developers have “baked” into software over the years, making it more user-friendly as it evolves.
AI is all around us
With voice recognition software, recommendation engines, and other technology apps, AI has become part of the fabric of our lives.
6. Adopting AI means embracing change
Adding new technology to legal workflows means a new way of doing things; and it also likely means collaborating with new colleagues such as data analysts, process engineers, pricing specialists, and other data-driven professionals.
7. Clients will drive your need for AI
The degree to which you adopt AI technologies to help you collaborate with your clients will likely depend on the data your clients provide as well as their vision of an ideal partnership.
“Companies that embrace the AI opportunity will be able to create the modern experiences their customers expect.”