The field of law is inextricably tied to data. With an exponentially high growth rate of data volumes, the biggest challenge faced by the legal fraternity is – Big Data. This issue has an impact on every legal function. Thus, the need of the hour is to prepare future lawyers to face this challenge of unknowable using the latest technologies. Here, we discuss the latest technologies that accommodate a data-driven lawyer.
Richer and Precise Data
With massive data volumes increasing by the day, sifting through this quagmire is increasingly becoming challenging. With the help, if data parsing technology, cleaning, enhancing, refining, and structuring of raw data can be done making it easy to search for and can also be mined for specific insights. These insights help in answering complicated legal questions.
Artificial Intelligence Helping in Decision Making
Today, no legal technology conference is complete without mentioning artificial intelligence. This broad technology help machines to carry out a variety of “smart” tasks that are closely associated with human decision making. Machine learning, a part of Artificial Intelligence, machines are exposed to extensive data and are provided with ways that help them learn and become “smarter” with time. This technology is nowhere trying to replace highly skilled legal professionals. The machines are going to be used in the future to perform a variety of repetitive and tedious tasks. It is going to be a big help to the lawyers, but it will not replace the expertise demonstrated by experienced legal attorneys daily with their nuanced judgment. AI is expected to help lawyers with their interaction with computers and bringing a marked improvement in their abilities to answer queries and draw significant legal insights with ever evolving and burgeoning data collections.
Legal Analytics
Another technology that has a lot of potential in the legal sector is data analytics. In this time and age, data analytics is responsible for offering a lot of value to legal practitioners. It helps ensure quick and better decision-making in various law practice areas like copyright, trademark and patent law, antitrust, security, and commercial litigation. It helps to mine extensive data like case opinions, docket data, client contracts, and legislation. Lawyers process this rich data to find information about judges, opposing counsels, and litigation parties. It also helps them improve the way law is approached. Gleaning factual data from voluminous litigation records improves the performance of law firms and lawyers manifested in time to injunction, the case with resolutions, win rates, and more.
Future lawyers need to be data-driven and make the optimal use of these technologies to gain excellent results. In the future, having no access to these technologies may put them at a competitive disadvantage. Thus, it is time to tighten the seat belt and learn the way these technologies can add value to their profession.
(855) 254-7841
(855) 254-7841
