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6
Most ILTA members already recognize that AI is here, or it will be very
soon. According to ILTA's December 2019 Artificial Intelligence & Machine
Learning survey, almost two-thirds of respondents said AI-powered
software is already creating fundamental change in the legal industry or will
do so in the next one to three years.
Respondents also see that contract review work is ripe for this type of
technolo. According to survey respondents, contract analysis is the area
of legal business uses where AI-powered software will obtain acceptable
maturity first (followed by e-discovery and investigation analysis, and legal
research).
AI-assisted contract markup can offer proven advantages to you, your
team and your clients. Even if you aren't already exploring this technolo,
you can be sure your competitors are. ILTA
Dan Broderick is the CEO and co-founder of BlackBoiler, an AI-
assisted contract review platform that uses proprietary deep learning
and natural language processing to speed up the process of high-volume
contract review. As a former associate with Am Law 100 firm Kilpatrick
Townsend & Stockton, Dan specialized in negotiation, related disputes,
and developing more efficient processes for contract review. He earned
his J.D. From American University, Washington College of Law and
received a Bachelor of Science in interdisciplinary engineering and
management from Clarkson University.
The ILTA Artificial Intelligence & Machine Learning Survey took a
very preliminary look at the "AI/ML" landscape in the legal industry
through the eyes of ILTA members, business partners and others
in the legal ecosystem. The important question for all is, "What
business problems can Legal AI-powered soware solve?" The
biggest risk for a legal organization in adopting Legal AI-powered
soware today is to focus on the advertised features and benefits
– the Hype - without understanding how it will impact day-to-day
operations or how it can be leveraged for the practice of law.
There are insights in the survey results that will help legal
organizations work through what's the right time to engage -
where and how soon should they enter the fray. The survey results
raise many more questions, to be addressed in the next iteration
of the survey, in 2020.
V I E W T H E S U R V E Y R E S U LT S
