The legal industry can be one of the most fascinating, and downright intimidating, fields available today. Considering the typically grim subject matter, the legal industry is not one to be taken lightly, and even the slightest margin of error is not tolerated. Unfortunately, cases on the legal side of things can be a matter of life and death, which means that the slightest mistake could end up overturning a case for all the wrong reasons.
When you have so much on the line, there is no wonder why people have started looking at more efficient ways to get the job done. For example, when it comes to legal transcription, the potential for any mistake is worrying enough that progress has been made to push AI applications in the legal industry.
How AI can help legal transcription
Concerning the multitude of cases, it is all about overall accuracy when it comes to speech recognition. While voice recognition is all about identifying the voices of unknown individuals, speech recognition is all about turning voice recordings into written data.
While accuracy is undoubtedly crucial, it is also important that the program is fast, capable of transcribing most cases as they go. After all, the legal industry is continually moving at a frantic pace, which means the program used to transcribe has to be extremely efficient and accurate.
Making use of AI in Law
The application of AI in Law can be broken down into a few factors to make things easier to digest. While it can be rather confusing, the importance of AI in the legal industry cannot be understated. As technology continues to evolve, litigation will undoubtedly benefit. The factors include:
- Background checks/due diligence. The use of AI software can help litigators have a much easier time uncovering the proper background data for their cases. From the reviewing of the contract to all of the necessary legal research, background checks are essential.
- Pattern recognition. When it comes to legal analytics, it is all about collecting data points through the current information. It can be used to take advantage of specific cases through patterns and trends.
- Considering how hectic it can be in a law firm, electronic billing through the use of quality AI is essential.
- From legal transcription to everything else that includes the use of documents, the ability of AI programs to effectively build filled documents to be used in a multitude of cases.
- Last but certainly not least comes the ability of AI programs to predict the outcome of specific types of litigation. The ability of AI to predict specific outcomes could very well change how some cases play out.
For the most part, the use of AI in the legal industry is an excellent combination. Without a doubt, many stands to benefit from what AI brings to the table, though it can be a little tricky, especially when you consider the potential job loss of those committed to a career in traditional legal transcription.