The Rise of Artificial Intelligence in the Legal Field
To begin with, let’s understand what does Artificial Intelligence (HEREINAFTER 'AI') stands for, it refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions. The term may additionally be applied to any machine that exhibits traits related to a human mind such as learning and problem-solving.
The legal aspect covers every corner of the business world. Virtually everything that companies do—sales, purchases, partnerships, mergers, acquisitions—they are done via the legally enforceable contracts. Innovation in the legal world would pound to a halt without a well-developed body of intellectual property law. Days after days, we fail to recognize the importance of law, each of us operates against the backdrop of our legal regime and the implicit possibility of litigation.
The Contracts Review section is the lifeblood of the economic system but the whole process of negotiating and finalizing a contract is a tiresome process. Due to this many start-ups including Clearlaw, Lexcheck and others are working towards a goal that could fully automate the proposed contracts, analyze them in full using Natural Language Processing (NLP) technology, and determine which portions of the contract are acceptable and which are problematic. Next, we can expect a major reform in the Contract Analytics section as it is not feasible to keep up with all the agreed terms and obligations. AI offers the chance to unravel this problem. NLP-powered solutions are being built that can extract and contextualize key information across a company's entire body of contracts, making it straightforward and clear for all the stakeholders throughout the organization to grasp the character and therefore the course of its business commitments. AI can have a great potential to tap into the Litigation Prediction where the machine learning models can predict the judgment of the case by using relevant precedent and a case’s particular pattern. This could help the company to proactively plan for the litigation strategies, fast track settlement, negotiations and thereby minimizing the actual visit to the court.
One of the biggest changes that can be caused by Artificial Intelligence in law is in the field of Legal Research. The Indian legal system is vast and it can become quite challenging to research but with the assistance of the AI, lawyers can get unparalleled insight into the legal domain within seconds. Currently, to complete a certain task, a significant number of man-hours is required and this significantly reduces the profit-making ability of a law firm, however, with the support of AI the entire legal fraternity can be reformed. An artificially intelligent platform for research can get the research done in seconds and it could help only a law firm with 400 lawyers but also a single practicing attorney so that he could balance the expenditure required for in legal research making the quality of research uniform. It can even provide lawyers with highly efficient and advanced tools so that the improved information can help the lawyers in advising clients or in litigation in a much more refined manner.
Conventionally viewed as a cost center and largely overlooked by companies, the legal market has seen little innovation in recent years. Today, Microsoft Word and email remain the dominant digital tools that legal teams all across the world use to carry out their work. Considering the size of the legal market, this can be a significant opportunity for value creation. As the AI and in particular natural language processing, continue to grow, they will unlock massive opportunities to transform and revitalize the future of law.
It is unlikely that technological innovation will affect the client’s needs. AI is certainly set to change the way lawyers work and will hopefully make day-to-day tasks like drafting and legal research far more efficient and cost-effective. However, clients will ultimately still want an experienced legal adviser for their availability who can use new technology to their advantage while maintaining a singular inter-personal relationship.
 https://www.forbes.com/sites/robtoews/2019/12/19/ai-will-transform-the-field-of-law/#590873977f01  http://www.legalserviceindia.com/legal/article-631-impact-of-artificial-intelligence-on-indian-legal-system.html  https://www.thelawyerportal.com/blog/artificial-intelligence-law/
ABOUT THE AUTHOR:
Anmol Gilra, is a second-year student of LLB at Rizvi Law College, Mumbai.
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