AI revolutionizing Legal Landscape
In the recent past, the international legal landscape was taken by storm by the competition between legal artificial intelligence (AI), Case Cruncher Alpha, and hundred commercial law veterans to predict the claim success rates of over hundreds of cases. Case Crusher achieved 86 percent precision, defeating the veterans by 20 percent. With the event, it is believed that AI will be able to break the barriers of finance and make legal services available to everyone, irrespective of financial condition.
Tasks performed by law graduates and paralegals such as discovery, situation management, and due diligence is being taken over by legal software platforms. This is a conscious choice made by clients in orders to reduce cost, increase processing speed and accuracy.
The entry of AI and technology will be experienced at the first level of highly influential legal firms, followed by government firms and later community legal centers who cannot afford the risk of investing on technologies that are not tested, but will chose to move in with the technology for the business advantage.
Machine learning is a technological trend that has not been unnoticed by the university sector. Melbourne Law School and Thomson Reuters Peer Monitor wrote in the 2017 Australia: State of Legal Market report, “Many Australian law schools are adding legal technology and legal app development to their curricula”. Employability in the future is an important aspect focused on by savvy universities while the train the students to enter a market that is filled to the brim with law graduates.
Although AI shows a world with immense potential in the legal arena, it would be highly impossible to replace legal practitioners who are seasoned and can think creatively based on their experience and expertise, while being able to connect with the people as well as be able to use a network to their advantage.