In-house legal teams are eyeing artificial intelligence (AI) technology to relieve them of mundane, time-consuming, and error-prone tasks.
There’s a growing appetite for greater adoption of pioneering technologies to optimize legal operations, a new survey by information company OpenText has revealed.
It’s not like lawyers haven’t harnessed AI yet. However, the majority of instances where AI is employed within the industry tend to raise eyebrows. For example, in Germany, the Regional Court of Frankfurt, increasingly confronted with “mass proceedings,” suspects law firms of using AI to attract large numbers of plaintiffs for filing small cases.
Recently, the US Supreme Court warned of the dangers that AI may bring to the judiciary, including dehumanizing the law.
Extreme and questionable cases like an AI-powered lawyer aside, it seems the technology could do wonders for general counsel without diminishing the standards of the profession.
"Traditionally slower to embrace innovative technologies, now, the legal industry must digitally transform by adopting tools, such as AI, to successfully embody its new role as an influential C-Suite strategic partner," said Michael F. Acedo, Chief Legal Officer, Corporate Secretary and EVP at OpenText.
With the help of AI, in-house legal teams can become “agile leaders” instead of fighting the perception of them being a “corporate bottleneck and cost center.”
According to the study that relied on the survey of merely 289 legal professionals, AI would free up time to perform higher-value work, boost productivity, and assist with the automation and simplification of time-consuming and error-prone manual processes.
The majority of respondents stated that the Chief Information Officer (CIO) plays a critical role in the delivery of legal innovation strategies. However, the current lack of IT advocacy and collaboration prevents the modernization of legal departments.
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