We have seen the advancement in technology and how it helps different sectors and industries. Firms and organizations that hesitate to embrace change are left behind, and cannot compete in the market.
The UAE is a world leader in many areas, including technology. Artificial Intelligence has been incorporated in many areas, such as hospitals. Although Artificial Intelligence has many benefits, some people are still skeptical and cautious about using it. When it comes to law practice, Artificial Intelligence will disrupt business in positive ways, and those who refuse to embrace it will lag.
What is Artificial Intelligence?
Artificial Intelligence (AI) is the recreations of human intelligence in machines created to mimic and act like humans. Any machine that shows human-like intelligence, such as problem-solving skills, can also be classified into this group.
Most people are skeptical about Artificial Intelligence because most movies associate this with destructive robots. AI is designed in a way that these machines can complete tasks and mimic human behavior. Artificial Intelligence is designed to learn, perceive, and reason. With the advancement in technology, previous standards associated with Artificial Intelligence is now outdated. AI continues to evolve and benefit many industries.
How Artificial Intelligence will disrupt the Business of Law
There is no doubt that law firms have adopted technology in their daily activities; however, AI has the potential to transform many areas.
Here are ways that Artificial Intelligence will disrupt the business of law;
Artificial Intelligence is beneficial because it reduces the workload in client intake and screening. A law firm in Dubai that embraces AI will utilize a chatbot and other Artificial Intelligence networks that inquire about clients’ relevant information. They also ask clients about the type of services they seek, and then they create a file and an engagement letter.
As law firms continue to use Artificial Intelligence, there will be an increase in automation of form-driven tasks that are conducted by attorneys. For instance, real estate transactions which require several hours to draft will take a few minutes. Artificial Intelligence in law firms will increase efficiency; this will allow firms to provide fast and cheaper services to their clients.
It can be challenging to find a decent contract management and storage system. Previously, this was done manually, and it could be exhausting. Using AI in a law firm in Dubai saves time and makes work easier by entering crucial information such as dates, terms, and other information without relying on human intervention.
It is also challenging to review all contracts and entering the information into new databases. Artificial Intelligence can quickly review the entire database, analyze, and catalog the agreements in a short time, which would have taken the team several months to complete. In addition, there are AI tools that review an entire database and manage risks to ensure consistency.
One thing that differentiates a law firm in Dubai that utilizes AI and one that does not is their quality of work. This is because machines don’t get bored, distracted, or exhausted, and they can produce error-free results. These tools also ensure that the correct language is applied despite the several attorneys drafting the documents.
Artificial Intelligence can compare documents and engages in automatic learning. For instance, by using contract comparison tools, AI can identify missing conditions, clauses, unidentified terms, and inconsistently used words in a single document.
One of the benefits of Artificial Intelligence is that it saves time. Computers can assess more information thoroughly compared to humans in a few minutes; for instance, AI can correct the errors in an entire document within minutes.
Artificial Intelligence can do quick and thorough searches to identify relevant information on all file types. It also conducts legal research within a few minutes; this would take an attorney so much time to finish. As the old saying goes, ‘time is money,’ is right in this instance because attorneys spend less time identifying mistakes and finding answers.
Attorneys are human, and they can get overwhelmed by their work. Legal research, proofreading, and document review can be tedious. These tasks have to be complete on time, and this can make attorneys overwork and get stressed. Utilizing Artificial Intelligence to help you with hard work reduces stress and saves time.
It also fosters confidence because, unlike humans, AI produces high-quality results free of errors and repetition. This leaves attorneys with more time to engage with clients, explaining theories, strategies, and keeping clients on the loop about their cases. Also, more consistent and high-quality results promote client satisfaction.
Technology continues to evolve and touch every aspect of our lives. Artificial Intelligence has been incorporated in many industries, including law firms. AI is beneficial to attorneys as it reduces workload, improves results, and promotes client satisfaction. Law firms have realized the advantages of using Artificial Intelligence in their practice.