Law firms are making a dash to harness the power of cognitive computing and the natural language processing capabilities of computers, and are investing heavily in artificial intelligence to automate the mundane tasks that are part and parcel of the law and legal services.
Law firms like Linklaters, Pinsent Masons, and BakerHostetler have become the latest firms to sign up to use AI.
Linklaters has signed on with developer RAVN and developed a computer programme to sift through various UK and European regulatory registers to check client names for banks.
Pinsent Masons has developed a programme to read and analyse clauses in loan agreements and to point lawyers towards applicable precedents.
Meanwhile, BakerHostetler has taken on ROSS Intelligence's AI legal research product. The product allows lawyers to ask research questions in natural language. It then reads through the law, gathers evidence, draws inferences and returns answers.
Law firms like Dentons, Hodge, Jones & Allen, Riverview Law, and many others have also partnered with various AI providers to exploit the merits of AI products.