Legal departments are under increased pressure to operate like any other business unit, controlling costs and providing value that affects the bottom line. To accomplish this, legal departments, and increasingly legal operations professionals, are keen to adopt new technologies to increase efficiency and operate more strategically, including those that use Artificial Intelligence (AI).
While AI promises to help legal professionals, aside from creating a lot of hype, its capabilities (and limitations) are not fully understood by the legal community, especially for in-house legal counsel.
This post aims to explore how legal departments hope to benefit from AI and how it fits into your legal operations technology roadmap.
AI in the legal department – fact or fiction?
In an industry that has been slow to adopt technology, AI has gathered momentum due in large part to the large focus on optimising legal operations. However, despite being a hot topic, only 6% of law departments have implemented an AI-enabled technology, according to an HBR Consulting survey.