In recent years, new innovations have been coming out at a rapid pace. From electric cars to artificial intelligence, these innovations have changed the way that we live and work. It’s only natural that legal practices are also being disrupted by innovation. In this article, we will look at four ways that innovative technology is improving legal teams today:
Artificial Intelligence for Legal Invoice Review
The first step in reviewing an invoice is extracting information from it, which can be time-consuming and tedious without the assistance of technology. As explained by the team behind TeamConnect, with AI, these documents are routed to a “cognitive” agent that uses natural language processing (NLP) to extract key details faster than humans ever could. This enables paralegals to focus on tasks beyond data entry work.
Legal invoice review is one of the most common tasks for lawyers, and many law firms are already using AI to help their teams. One way that this is done is through a system like this, which delivers meaningful cost savings, enhances productivity, and reduces errors. Using AI to review these invoices can lead to a 50% decrease in time spent on this task – freeing up the resources of your legal team for more important work.
AI also has the capacity to provide more insights from data than humans can on their own. This means that your legal team can get a financial snapshot of how cases are doing, without having to sift through mounds of paperwork. Some AI systems will even predict what potential damages may be in a case and help attorneys determine whether it is worth pursuing – all before any filing fees have been paid.
Chatbots for Client Service
Many legal practices have a high number of clients, which means they need to provide good customer service.
Since customers today are used to using technology for virtually every task in their daily life – from ordering food to finding an apartment – it is increasingly important for law firms to offer this same level of convenience. One way that many organizations are achieving this is by implementing chatbots into their client services workflow. With these bots, customers can ask questions and receive answers with the help of AI-powered natural language processing (NLP). This not only makes communication more convenient but also reduces support costs since reps don’t have as much time committed per client interaction.
One more benefit to chatbots is the ability to convert more people into paying customers. Once a client has asked their question, they are automatically routed towards an offer for legal services or additional paid products that may be of interest to them based on previous answers given by the user. This can lead to increased conversions and revenue for your organization.
Virtual Reality in Trial Preparation
One of the most important aspects of the trial is jury selection. It’s critical to ask the right questions and get a good representation of what your community looks like in order to properly defend your case.
With virtual reality (VR), lawyers can not only better understand what their juries look like, but also how jurors feel about certain topics relevant to their cases. This gives teams an edge when it comes time for questioning potential jurists during voir dire – resulting in more favorable verdicts and reduced stress levels among legal professionals.
Using VR with law firms has been demonstrated as effective by multiple studies that show how this method prepares attorneys both emotionally and physically before going into court for big trials. These findings have resulted in some companies offering services to help lawyers with the VR component of their trial preparation.
Augmented Reality for Jury Selection
By incorporating augmented reality (AR) into their workflow, lawyers can get a better idea of how potential jurors will look in the courtroom before they ever show up to court. Using this technology allows attorneys to focus on other aspects that are more pertinent to strategy like questioning or witness preparation without wasting valuable hours looking at photos of hundreds of people who may not even end up serving on your case.
It has been shown that using AR makes jury selection both faster and easier, while potentially increasing lawyer performance by 30%. This enables law firms to make quicker decisions about which prospective jurists should be considered for service – all while saving resources.
Incorporating these innovations into your practice can serve as an effective way to not only better understand the needs of your clients, but also increase overall productivity. While this may seem like a large undertaking at first, it is important that law firms start thinking about how they want their business to look in five years. The competition will be fierce and legal tech companies are developing innovative solutions every day – so you need to stay ahead of the curve by using technology yourself or risk becoming obsolete.