/ Posts tagged "Legal AI"
Nov 25, 2021

The Pivotal Role of Data Annotation in AI-Powered Legal

Data annotation or labeling plays a vital part in transforming content into recognizable formats for machines. In other words, tagging or labeling facilitates a system to transform data into more intelligent outputs/insights. It means raw data becomes intelligence using data annotation. And, this is what enables machine learning (ML) models…
Raja
By Raja
Nov 18, 2021

How has AI emerged as the go-to legal technology?

The evolution of legal tech was seeded when LexisNexis introduced the red “UBIQ” terminal in 1976 to help lawyers simplify the task of searching case law. By introducing the ability to research case law online as an alternative to spending hours flipping through books, attorneys could save a significant amount…
Jayashree Nair
By Jayashree Nair
Nov 11, 2021

What exactly will change with AI & Legal coming together?

“It may even be considered legal malpractice not to use AI one day,” says Tom Girardi, renowned civil litigator and the real-life inspiration for the lawyer in the film Erin Brockovich- Forbes On that note, let’s explore the significant areas within the legal world that will witness a sea change for better efficiencies…
Raja
By Raja
Oct 28, 2021

The Impact of Artificial Intelligence in the Legal Industry: What is changing, and how?

Before we understand the role of Artificial Intelligence in the legal space, it is interesting to note how this digital technology is poised to transform the industry. A Deloitte study indicates that 114,000 legal jobs are likely to be automated in the next 20 years Does this mean lawyers in…
Jayashree Nair
By Jayashree Nair
Oct 21, 2021

Embracing the new AI regulations – Setting the wheel in motion

Artificial Intelligence (AI) has emerged as an indisputable force in every industrial sector that strives to stay aligned with ever-changing business dynamics. The market size of AI in 2020 was $62.35 billion and is expected to grow at a CAGR of 40.2% between 2021 and 2028. The technology has seen…
Raja
By Raja
Oct 7, 2021

AI in Legal – The myths answered

Ever since the genesis of Artificial Intelligence (AI), there have been many myths around this technology. A majority of us have shaped our perception of AI with inspiration from some of our favorite sci-fi movies. While the world is inching towards living a day out of a scene from one…
Jayashree Nair
By Jayashree Nair
Sep 23, 2021

What are the best practices to adopt for Contract Lifecycle Management?

Contract Lifecycle Management (CLM) has recently gained more prominence among global business organizations, with the pandemic catalyzing a significant change in business dynamics. A contract is not just a mere legal document with a set of clauses and mandates to deliver a business. It is the pillar supporting the relationship…
Raja
By Raja
Sep 16, 2021

Defining the metrics to measure the ROI of Contract Lifecycle Management

Automation of Contract Lifecycle Management (CLM) is vital to gain intelligence and make a business more profitable in today’s digital era. A report by IACCM has cited that poor management of contracts costs 9% of an ‘organization’s annual revenue. This speaks volumes of the need for enterprise CLM deployment to…
Jayashree Nair
By Jayashree Nair
Sep 9, 2021

How to adopt Effective Contract Management for your organization?

Contract Management often considered a back-end legal operation that has nothing to do with critical business impact, can be the most significant engine of an organization. Organizations can no longer relegate it to the junior clerical workforce and forget about it. Enough has been said about Contract Management’s risk mitigation…
Raja
By Raja
Sep 2, 2021

Top Trends in Contract Management That Are Defining The CLM Landscape

Digital Contract Management is here to stay. The need for adopting technology for enabling efficient contract management practices was already existent, and the pandemic has only expedited the same. Gone are the hesitant moves towards digitizing CLM operations. As lockdown caused remote access to centralized CLM software – these are…
Jayashree Nair
By Jayashree Nair