The legal sector continues to evolve as a result of technological advancements. In the last two years, legal businesses have realised that embracing technology is a necessity, not a luxury. Consequently, they have been compelled to consider what technology they need, and why. One such technology is Artificial Intelligence.
Many businesses, especially smaller legal firms, think that AI is only accessible to large firms. The truth is that AI is not an expensive, unattainable ‘luxury’ anymore, regardless of firm size or profile strength.
In recent years, AI’s influence has started to extend to the legal industry, and AI-based tools like case management software, and solutions to automate business processes like patent tracking are becoming more commonplace. Legal firms are also embracing live video-streaming solutions to connect with clients, and eSignature solutions to minimise paperwork and manual checks.
Many legal firms are also adopting tools to simplify the processes for:
- Document creation: Litera Create and Content Companion
- Document proofreading: Litera Check
- Contract creation: Litera Contract Companion
- Transaction management: Litera Transact
Despite these positive occurrences, the legal industry sometimes struggles to reconcile the benefits versus the fears of technology. Many firms worry about the ‘human’ toll of AI, for instance, in how it could eliminate some positions like paralegals and legal researchers, and even reduce the number of billable hours.
Thankfully, despite such fears, many law offices are now starting to use software solutions for productivity, legal speech recognition, and legal proofreading. To realise the immense potential of software for their industry, law firms must first set their goals, carefully select the right solutions, and invest in talent to put this technology to good use.
Prime Infotech Solution deals in all the software mentioned in this article. We are the preferred vendor for many legal firms and corporate legal departments. To know more about Contract Companion, Litera Check, Litera Transact and any other LegalTech solution, contact us Today!
Website : www.primeinfotech.biz
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