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Between fear and excitement, how is the legal sector preparing for AI, this growing force that cannot be ignored? In this exclusive infographic, discover what the main commercial motivations and inhibitors are behind the implementation of the various solutions in companies, their time frame and what already exists in the legal sector. Ahead of the inaugural Legal AI Forum (31st of October - 1st of November), we surveyed experts, from C-board to Innovation Managers, to gather their insight on the legal sector's position on AI.
In light of the rapidly evolving legal landscape, we have put together this trends report based on the thoughts 200 legal professionals. Some of the notable findings of this report are that 81% of our respondents are looking to invest in AI technology within the next 24 months, and over 50% stated that their primary objective when acquiring AI is to improve their internal productivity capacity.
Artificial intelligence is growing at a phenomenal speed- while eDiscovery has fundamentally transformed the way complex litigation support is performed. Over the next decade artificial intelligence will transform transactional and advisory practice teams, creating new markets for clients in areas such as contract creation, payment security and performing due diligence.
Ahead of their participation in the Legal AI Forum, Legal IQ spoke exclusively to Jeffrey Brandt, CIO, Jackson Kelly LLC and Jeroen De Man, Managing Partner, De Groote -De Man, to discuss their thoughts on how AI technology can build new capabilities and change the usual service of delivery in a new age of legal arbitration.
AI is already revolutionising the legal sector, building new avenues of revenue generation and client development for law firms. However, communicating these benefits effectively and securing buy-in from partners and board members can be challenging.This article will explore strategies for creating a positive momentum throughout your law firm, building a company-wide understanding of the tangible benefits of AI including its ability to save time and money, allow earlier risk assessment, develop organisational structure and improve client relations.
Ahead of his participation in the Legal AI Forum, we spoke to Jonathan Patterson, Managing Director & Head of Development, DWF Ventures in order to better understand the path that these technologies are taking towards real and substantive market adoption.