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AI Can Maximize In-house Efficiency
Executive Summary of an article written by
Erik Severinghaus, SpringCM
Artificial intelligence (AI) has the potential to significantly bolster the efficiency of in-house legal departments. Key developments are emerging that will reshape how work is dispersed among inside counsel. One key development is “ROSS,” an outgrowth of IBM’s proprietary supercomputer, Watson. ROSS is an interaction-based resource which is able to conduct legal research and generate responses to queries with proper citations. What sets ROSS apart from a basic document- retrieval tool is that it is designed to provide authoritative recommendations based on information it researches and synthesizes. AI has the potential to significantly shorten the due diligence process by providing legal departments with intelligence to consolidate and expedite reviews.
Getting AI solutions up and running will require significant time and resources, needing the full backing of the C-Suite. Without an internal culture that is knowledgeable about AI and receptive to its introduction, legal departments will find AI challenging. Therefore, as internal legal leaders approach the prospect of introducing AI internally, they must also work to build cultural awareness about what its adoption means for employees.
Moving forward, we will see AI- driven solutions paving the road for more efficient inside counsel operations. Freed from repetitive and minute tasks, inside counsel will have more latitude to focus on difficult cases and high-level organizational issues. These positive changes will become apparent in the next five years, when the application of AI within legal departments evolves from its infancy into a mainstream reality.Read the full article at:
Today’s General Counsel