Preparing law firms for the impact of AI

Artificial intelligence (AI) simulates human intelligence processes through machines. Analysing vast amounts of data to identify correlations and patterns, AI uncovers valuable insights and predicts future outcomes that profoundly influence our daily lives, from online shopping and music playlist recommendations to managing smart motorways and virtual assistants like Siri and Alexa. Whether we embrace it or not, AI's impact is undeniable.

AI is also transforming our working lives, particularly in legal services, which often involve complex, repetitive, and time-consuming tasks. This makes the profession ideally suited to benefit from the efficiencies AI provides.

The impact of AI on law firms today is as significant as that of cloud technology 15 years ago. We are witnessing another technological revolution that is reshaping the future of legal service delivery.

This transformative shift in the rise of AI is heralding a new age of efficiency, providing law firms access to game-changing innovation that is altering the way they practise law and deliver client service. AI-driven solutions are reshaping traditional legal processes and enhancing the capabilities of legal practitioners.

AI can now support many facets of legal practice, including drafting and analysing legal documents, performing legal research, time recording, summarising cases, and more. Rather than replacing lawyers, AI should be seen as an invaluable assistant.

The opportunity presented by AI

For lawyers, time translates directly to money. By automating essential tasks that once took days, AI can complete the same work in seconds, which is especially valuable for those handling fixed-fee work. This streamlining of activities also allows practitioners to develop areas of their business where legal technology cannot otherwise assist, and enhances the service received by the end client in less time and at a lower cost to the practice.

Two recently launched AI-driven tools, that streamline processes and improve the decision-making of legal professionals within LEAP, are Matter AI and LawY. Matter AI automates the labour-intensive task of document review, enabling users to extract crucial information and actionable insights from matter correspondence in an instant, and LawY, which serves as an AI legal assistant, swiftly generating precise responses to practitioners' legal queries. LEAP's latest development includes Generator which utilises AI to identify and create appropriate template documents.

The introduction of these innovative features represents a significant advancement in equipping lawyers with cutting-edge AI technology. LEAP is investing time and resources into AI development so that law firms can manage cases with optimal efficiency, conduct research with greater precision, and ultimately increase productivity and the quality of legal services delivered.

While much has been said about AI potentially replacing lawyers, less attention is given to how it can complement and enhance their capabilities. By leveraging tools like Matter AI, LawY, and Generator and by understanding the optimal use of these applications, lawyers can greatly benefit from this technological revolution.

Matter AI, LawY and Generator are included as part of the LEAP subscription. For more information on AI within LEAP visit: leap.co.uk-legal-ai