This is the premise on which Serena Lim, our Managing Director, will lead a discussion on the impact of AI in the practice of law on Friday, 21 July 2017, at the Future Lawyering Conference organised by the Law Society of Singapore. The session will envision the law firm of the future, with human and virtual lawyers working together to provide legal services. Taking a process and timeline driven area of practice as a case study, Serena, along with Nicholas Wee, Chief Architect of Crimson Logic and Christopher Goh, Partner of Goh Phai Cheng LLC will share their thoughts on this simple premise.
How AI has changed the nature of legal delivery
Across the globe, there are corporate legal departments, law firms, and service providers using AI for review and standardization of documents, with the list of tasks potentially taken over growing rapidly. Large international law firms are now in a race to invest in "innovative" game changing AI technologies to stay ahead.
Studies indicate that around 20%-40% of jobs in legal could become redundant, including both legal support and junior associates, in the next 2 decades.
How will AI affect lawyers? Will they become marginalized? Or will it enhance their status in society by improving access to legal justice? This is a matter of perspective. The key is in understanding that a robot cannot perform certain aspects of legal work – so there will always be a need to hire lawyers.
In a technology-driven world, the following question arises for lawyers: What can we do now – to plan for a law practice where robots will be part of our team – to be "future-ready"?
The session will address the following questions
- What tasks can be automated and what cannot?
- How can law firms prepare for the future legal services landscape – taking into account people, processes and technologies?
- Which technologies are available now for the automation of everyday tasks?
We hope to see you at the conference. Aside from the AI discussion, the Bizibody team will be on hand to share information on how to how to improve the efficiency, profitability and enjoyment of your legal practice by adopting technology. If you are looking to adopt a practice management solution, remember that you are still eligible for a 70% grant from SPRING Singapore under the Tech Start for Law initiative. Finally, a reminder that the PIC credit scheme is coming to an end in December 31 – in order to enjoy the 40% credit, do invest in any required hardware or software before then. Contact us for a free consultation on how technology can assist your practice, based on your current needs and “pain points”.