AI is more than just a buzz word. AI is touching everything that we do, even when we don’t recognize it as doing so.
So, let’s start with the room is too small for a topic this relevant, especially considering last year the room was three times the size and PACKED. So, when the room is standing room only, I have no issues sitting on the floor.
AI doesn’t just understand the words, but understands what the words mean for a phrase like “raining cats and dogs.”
WHAT IS AI?
Mark Greene, Market Intelligence LLC, goes over what AI is. I went to the session last year. I know I tweeted on it, but apparently I didn’t write a blog post … sorry about that. It was one of the best programs I attended. But here are a couple slides from today:
WHAT IS WATSON?
You have to wrap the technology around the legal goals, and invest intentionally. Need to understand change management.
Law firms need to exploit AI rather than compete with it. Companies like IBM are creating products for companies because the sales cycle is faster. A key differentiating point would be to work with vendors
IF IT CAN BE AUTOMATED, IT WILL BE AUTOMATED.
Brian Kuhn, Co-Founder and Leader of IBM Watson Legal Solutions
BENEFITS OF AI FOR LAW DEPARTMENTS
Kimberly Bell, Head of Operations – Legal/External Affairs, Nissan Group of North America
- Anything that we’re doing repetitively, can be moved to an AI solution.
- We’ll see greatest use of AI in financial services, insurance, auto, retail. In litigation AVOIDANCE.
- Short term we’ll see work go away (first year associates doing research, for instance).
- AI allows you to leverage expertise, and it’s scale-able to firm size.
Thanks to our host with the most, and moderator, Patrick Fuller, ALM Media LLC. Definitely attend the AI session next year … but get to the room really early.