In times gone by, lawyers would spend hours poring over documents and huge amounts of time and energy on research. But for many of today’s law firms, those days are coming to an end. The landscape is being revolutionised, thanks to exciting new technology and automation.
Artificial intelligence tools can now help shoulder the burden of the kind of work that drains lawyers’ time — from reviewing documents and due diligence checks, to drafting legal documents and carrying out legal research. In 2021, Oxford University estimated that around half of all solicitors in England and Wales were using at least one form of AI-assisted lawtech (specialised solutions for the legal sector).
And generative AI has the potential to make even greater strides in our legal sector. With the advent of increasingly advanced programmes — like ChatGPT and other large language models — we can see just how much power they have to understand and generate meaningful responses to complex questions.
It gives us a tantalising glimpse into the future. Just think of the potential this could offer to law firms when it comes to improving access to legal services — reducing the time and costs from previously labour-intensive work.
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Source : The Next Web