This article has been written by Aman Kashyap.
Implications and ramifications of AI in the Legal industry!
AI, also known as Artificial Intelligence, could be classified as a series of interconnected networks dedicated to replicating human intelligence in terms of basic routine and menial tasks such as speaking, journalism, marking the calendar, essays writing, shopping, journalism etc. and doing it in such a manner that makes repetitive tasks in day to day life hassle free.
The influence of AI has slowly begun to seep into the very minute fabric of our existence as well as impacting various industries such as entertainment, shopping, automobile, technology and it’s only a matter of time it starts to wrap around one of the most intellectually demanding and competitive industries in the world, the legal industry.
The legal industry, known of for its demand to challenge one of the most intelligent people across the globe on a daily basis in very tense and dynamic scenarios, and for its requirement of emotion recognition and soft skills could be a very tricky spot for AI to fill in. But, these are some potential areas where AI could fill in to leverage and escalate the legal business-
1. Legal research- With a strong research backing any field, inundated with case studies and data, AI could help researchers, judiciary and law makers by aiding in better data mining to extract legal basis for a particular case.
2. Litigation prediction- AI could make better analysis of a particular case focusing on intricate details and facilitating better judgement.
3. Contract review- AI tools like NLP could aid in better analysis of drafting and contract writing which was previously being facilitated with the help of literature or philosophical texts.
Subsequently, with the rise of AI in the legal industry, it could also pose some threats which are listed below-
2. Privacy and protection of personal data- With AI refering to past and present case studies to expedite better judgement facilitation, it could also lead to sensitive data being leaked or being stolen by hackers if not protected properly leading to data or identity theft or sensitive information being brought out into the public.
3.AI might not have a certain or defined legal entity- With static and dynamic legal scenarios being inundated everyday in the legal market, AI needs to have a specific set of data facilitating it’s neural and cognitive network or framework to better assess individual cases as it might not possible for it to perform accurate and definite assessment of cases ranging from civil, criminal to corporate and might lead to emotional breakdown due to the stress mounting or multiplying with each case
