2024 is here and the legal tech industry is abuzz with transformative advancements, with AI emerging as a catalyst for innovation. These advancements enable legal professionals to navigate complexities with unprecedented efficiency and precision, and enhance their ability to deliver justice. The positive impacts of these technological innovations are poised to usher in a new era where legal services are more available and affordable, and the pursuit of justice is seamlessly intertwined with the prowess of cutting-edge technology.
So what legal tech trends can we expect to see in 2024?
1) Better organization of data
AI algorithms, particularly those designed for tasks like data analysis, natural language processing (NLP), and pattern recognition, heavily rely on the quality and relevance of the input data. And thus cleaning up data and document management systems (DMS) is a prerequisite for unleashing the full potential of AI.
According to Henchman’s Legal Tech Trends 2024 Report, the future of legal technology is data, however it is estimated that over 80% of any enterprise’s data is unstructured.
When organizations invest in refining and preparing their data repositories, AI can operate on a foundation of accurate, up-to-date, and pertinent information. This will not only enhance the accuracy and effectiveness of AI applications, but will also facilitate the development of more sophisticated and insightful AI use cases. By aligning DMSs with the ever-evolving needs of AI technologies, organizations position themselves to derive greater value from these advanced tools, unlocking new possibilities for innovation and efficiency in their operational processes.
2) AI related regulation and litigation
In 2023 we saw both the use and development of AI take off and become more mainstream than in the past. And this increased awareness
and usage naturally prompted many important conversations, discussions, and debates about the ethical considerations of AI. In late 2023, we saw the first AI-related legislation: US President Joe Biden’s executive order on the safe, secure, and trustworthy development, and use of AI.
We can already see many laws, worldwide, starting to come into play. In 2024 we expect to see more regulation emerge, with Nasdaq stating that “Some analysts view new artificial intelligence policy and regulations as almost guaranteed to arrive in 2024.” Attorneys need to keep up with the developments in technology, and this surge in regulation to ensure companies’ compliance, as the regulatory ecosystem evolves.
But not only do we expect to see more regulation, with new technology comes litigation. Adopters of these new technologies risk breaking the law, due to not properly understanding the ways in which these technologies work. Dr. Joy Boilamwini, Founder of the Algorithmic Justice League and someone who has been vocal about the ethical implications of AI for decades, recently shared a prediction that we will see a growing number of class action lawsuits in 2023, due to companies adopting AI systems based on data taken without consent. This is definitely a trend for plaintiff’s attorneys to look out for in the coming years.
3) More automation technologies
Legal tech has always been about automation - making lawyers’ jobs more efficient. . For lawyers, the integration of automation into their workflow has heralded a transformative era, liberating them from repetitive and administrative tasks and enabling an intensified focus on the legal intricacies of their profession. To date we have seen automation tools emerge for creating contracts, briefs, and other legal documents. Not only do these tools liberate lawyers from these tasks, they allow lawyers to work more efficiently to serve a broader client base, take on more cases, and bring more justice to the world.
According to LexisNexis, in 2024 the legal industry will see adoption of technology to automate contract automation and payment collection. By automating these fundamental aspects of legal work, lawyers can further streamline their operations, allowing for a more strategic allocation of time and resources. Ultimately, the integration of automation in the legal sphere promises a future where lawyers can maximize their impact, efficiently manage increasing workloads, and contribute meaningfully to the pursuit of justice on a broader scale.
Of course, AI takes automation to a whole other level, allowing lawyers to outsource the more banal tasks and focus on the quintessential aspects of their role. This frees-up their time to take on more cases, represent more clients, hold more wrongdoers accountable, and make a greater impact in their area of the law.
4) Legal chatbots
Legal chatbots already contribute to the legal landscape by enabling lawyers to quickly access answers to legal queries, allowing them to redirect their focus towards delivering substantial value to their clients. “Beyond the binary nature of yes or no responses, the true essence of value in legal services lies in profound analyses, strategic counsel, and nuanced advice.” Chatbots expedite the process of finding answers, empowering lawyers to engage in more in-depth analyses and provide strategic advice promptly. This swift access to information not only saves time that would otherwise be spent laboriously sifting through documents but also facilitates lawyers in offering a superior quality of legal service to their clients.
By leveraging legal chatbots, attorneys can devote more time to the intricacies of legal strategy, and, ultimately, champion the cause of justice on behalf of their clients.
5) AI training for legal professionals
The realm of legal tech is not a new one, it has been transforming the way lawyers work for over twenty years. However the introduction of AI into the legal tech industry is relatively new. Most lawyers have been ahead of the game when it comes to adopting AI into their practice; according to Darrow investor, NFX, over 51% of attorneys have already used generative AI in some capacity. While this is an impressive statistic it still leaves almost half the lawyers in the world without ever having tried using AI in any sort of capacity. Prominent legal futurists, like Richard Susskind,have been sounding the alarm for years. As he puts it: “the market will show no loyalty to conventional legal and court service if AI delivers the outcomes that clients want but quicker, and at lower cost."
With generative AI getting more powerful and its capabilities more extraordinary, those lawyers who continue to ignore it may start to get left behind. In this LawNext report, Bob Ambrogipoints out the top three reasons lawyers are holding back from using AI are: inaccuracy; inability to explain how it works; and security concerns. But in 2024, we will likely see more training on AI for lawyers. This is important for two reasons. Firstly, with the advancements we are seeing in generative AI it is important for adopters to understand its limitations in order to mitigate any risks coming from using the technology.
In addition, AI training aims to create a sense of comfort and comprehension among those who have yet to delve into its capabilities. By fostering an understanding of both the possibilities and limitations of artificial intelligence, lawyers can overcome apprehensions associated with its usage. This will open the door for them to leverage technologies, such as Darrow, that can significantly enhance their efficiency and scalability.
We need lawyers, but lawyers need legal tech
With the widespread release of ChatGPT in early 2023, there has been an unprecedented shift in the way we all think about work. Lawyers simply no longer need to spend time or money on the areas of their work that don’t require a special skill. There is an abundance of automation tools to help lawyers do their jobs more efficiently, in addition to other legal tech solutions (such as Darrow’s AI-driven Justice Intelligence Platform) that were born to help lawyers save time on non-legal tasks.
While AI will never replace lawyers - we will always need human and emotional intelligence for the work that requires judgment, advocacy, and empathy - there is a growing consensus that lawyers who use AI will start to replace lawyers who do not.
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