Legal technology company InCloudCounsel’s AI automates repetitive routine work so legal admin can focus on higher-value, more ROI-driven work.
The UK-based Law Society noted in a study earlier this year: “Over the longer term, the number of jobs in the legal services sector will be increasingly affected by automation of legal services functions. This could mean that by 2038 total employment in the sector could be 20% less than it would otherwise have been, with a loss of 78,000 jobs — equal to 67,000 full-time equivalent jobs — compared to if productivity growth continued at its current rate.”
The legal technology company InCloudCounsel, which incorporates AI as part of their legal tech solution, said AI doesn’t replace staff, but helps employees do a better job, by having routine legal work automated, so that human employees can focus on “higher-value,” more ROI-driven work.
Lane Lillquist, CTO of InCloudCounsel said, “I don’t really think of ‘robot lawyers’ or AI, as I refer to it, as gathering data. Generally speaking, AI is fed data by people, both in the training of AI and through the use of AI. A researcher will compile a dataset to train an AI model that they carefully choose for the specific task they want the model to be able to perform. That model pours over the data again and again as it optimizes its ability to make predictions. Then, once a model is trained, a human gives the AI model new data to make predictions on.”