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Using artificial intelligence in the legal profession

  • 2 wk ago

Artificial intelligence (AI) is taking the business world by storm with its capability to collect, filter and react to data rapidly and in many different ways.

Applying AI technology to law firms involves the use of computers, algorithms and big data to assist, support, collaborate or even duplicate lawyers’ behaviors and decisions so that law firms can function competently, successfully and with foresight in their business environment.

The interconnected world enhanced by technologies such as AI brings many positive changes for the ways in which law firms communicate with their customers, clients and business partners, offering the advantage of providing more an efficient and effective service without compromising quality.

Although AI has not yet been developed to a level where AI-empowered legal advice could fully replace human legal practitioners, the adoption of AI has the potential to reduce transaction costs and improve the accessibility of legal advice through the use of automated assistants, digital hubs or software to offer AI-powered legal services for vulnerable clients.

In collaboration with the Hungarian digital law firm SimpLEGAL, InvestCEE LegalTech Consultancy issued “AI in Legal Services – A Practical Guide” in December 2021, suggesting that AI offers new opportunities for digitalizing legal services.

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