Artificial intelligence (AI) has revolutionized the legal profession. Advances in AI-based eDiscovery analytics drastically increase the speed and improve the quality of the eDiscovery process not just for in-house counsel. Smart and innovative law firms already benefit from the use of the latest analytic technologies to deliver higher quality services to their clients. All law firms of every size could and should.
Let's look at 4 solid benefits that AI-based analytics bring to lawyers to work more efficiently, effectively, stand out from the competition and strengthen client loyalty.
1. Cut through the noise
By using analytics to reduce data volumes, you can quickly cut through the noise and zoom in on the relevant documents. With deep search and analytics, your team will understand the facts early in the process allowing you to focus on developing the best legal strategy for your client. It will also enable you to support your team to make the best use of review resources and do more work with your current team. This way you never have to pass on new opportunities because of capacity problems.
2. Build on facts instead of assumptions
By using analytics lawyers can make decisions and plan legal strategies based on facts rather than instinct or assumptions. After all, early insights mean a stronger case, firmer negotiations, and the knowledge that you need to win. It also means improving productivity and precision of your team.
3. Be cost effective for client and firm
ZyLAB ONE eDiscovery as a Service comes with Artificial Intelligence and Data Science tools that enable the highest level of automation. You can cover multiple eDiscovery use cases with one platform. This way you can handle more cases, more volume, and benefit of better pricing. There is no need to involve any third parties; you can bill the hours for project management and data science (machine learning) but still be cost-effective for your clients.
4. Transformation, not replacement
Certain parts of a lawyer’s job, especially those aspects that are more rote or mechanical, can be outsourced to technology. There is no need to worry that AI will replace lawyer's intelligence. Also in the future times, attorneys will still make the final decision over how to proceed in a given case or transaction. AI is just helping attorneys manage data-intensive tasks more productively and efficiently and to make better and more well-informed decisions. AI has nothing to do with replacement. AI is just transforming and enhancing legal practices. And at the end of the day, grow profit for your firm.
A more detailed overview of AI-based analytics for eDiscovery can be found in this whitepaper.