Plenty of businesses, especially smaller legal firms, tend to think that Artificial Intelligence (AI), with its mysterious connotations and potential for disruption, is only accessible to large firms.
However the truth is that AI is not an expensive, unattainable ‘luxury’ any more, regardless of firm size or profile strength. In fact, its increased availability and adoption among firms of all sizes and in almost every industry suggests that AI for business is not just accessible, but also necessary. AI’s influence also extends to the legal industry. In 2018 alone, legal tech spending in the United States hit a massive $1 billion, with AI-based tools like case management software (e.g. eDiscovery) as well as solutions to automate business processes like patent tracking, becoming more commonplace than ever. Legal firms are also embracing services like live video-streaming to better connect with clients and serve them better.