Law Firms are Integrating New Technologies – CIOReview
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Digitalization of certain processes are benefiting law firms. Automation, AI, cloud services, VLA, and cybersecurity technology is saving firms time and reducing operational costs.
FREMONT, CA: Law firms are increasingly relying on technological services to manage their workflow. Certain data entry tasks are outsourced by automated processes that manage data for law firms. Law firms invest in technology to overcome the challenges of increased projects demands while maintaining a budget. Firms that have integrated technology have reported a rise in profits.
Law firms tend to rely on traditional systems. Integrating the following technologies can benefit law firms:
Automation: Automation help condense large data based activities by reducing human involvement. Lawyers would navigate through paperwork, research and data recording manually, costing firms time and resources. Lawyers use automation for legal research, searching for digital evidence to be used in court, and document review.
Legacy software modernization is a standardized process that automates the management of documents. It simplifies the drafting of contracts. It allows clients to sign simplified contracts digitally and save lawyers time.
Automation is improving standard administrative tasks that were previously manually undertaken such as tracking progress and changes, data collection, reporting, and communication.
Artificial intelligence (AI): Automation replaces repetitive human action in specific tasks. AI performs complex functions like problem solving, planning, and perception. AI can be programmed to learn on its own. AI uses machine learning to manage text and voice conversations, identify patterns, and analyze contracts for inconsistencies. Lawyers use AI to find evidence while building a case and forming litigation strategies.
Cloud: Lawyers use cloud-based solutions for clients to share information, rather than emails. Firms conduct certain operations on virtual whiteboards. They use machine learning and to find information from databases, and other automated tasks on the cloud.
Virtual legal assistant (VLA): VLA is more widely used by law firms. AI-powered chat bots build on neural network computing models and deep learning.
VLA improve the firm's response times freeing human assistants to work on higher-priority communications that require human knowledge. Bots identify concerns and flag them to the appropriate departments.
Cybersecurity: Law firms are relying on cybersecurity to encrypt data within their organization and of clients, witnesses, and courts. Cybersecurity protects privileged data and help firms maintain compliance.
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