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Law and AI

Rish Handa; Sophie Papineau-Wolff;

商品編號:9B19TF01
出版日期:2019/11/01
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商品來源:Ivey Business Journal
商品主題:General Management/Strategy
商品類型:Article
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內容長度:7 頁
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This article examines the current state of legal AI, highlighting current applications and future potential along with common concerns. While the authors expect to see boundless applications of AI to the practice of law in the long term, current applications generally aim to facilitate contract review, legal research, and the prediction of legal outcomes. Ultimately, AI systems are likely to reduce costs, produce consistent and accurate results, and do so in less time than ever before, while alleviating various human resource limitations. However, small and mid-sized firms may find the costs associated with an AI-based contract review system prohibitive. In addition, many express concerns that AI technologies will supplant human capital. While this may be true with respect to mundane, repetitive tasks for which we rely on human labour (e.g., basic due diligence, contract review), it is less true for sophisticated tasks for which we rely on human judgment (e.g., persuasion and strategy). Nonetheless, legal AI technologies suffer from notable limitations. First, an AI system’s accuracy is generally dependent on it being trained on massive amounts of data and subsequent human verification of the results. Second, legal AI is hampered by the segregated nature of legal data and the possessive nature of its owners. Third, an AI-based system is not a silver bullet to the contract review process. Fourth, there is a risk that once AI-assisted technologies become ubiquitous, their results may be factored into the legal strategy of all participants. Finally, the law is not static.

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