Based on Edgar Alan Rayo’s assessment of companies’ offerings in the legal field, current applications of AI appear to fall in six major categories:
- Due diligence – Litigators perform due diligence with the help of AI tools to uncover background information. We’ve decided to include contract review, legal research and electronic discovery in this section.
- Prediction technology – An AI software generates results that forecast litigation outcome.
- Legal analytics – Lawyers can use data points from past case law, win/loss rates and a judge’s history to be used for trends and patterns.
- Document automation – Law firms use software templates to create filled out documents based on data input.
- Intellectual property – AI tools guide lawyers in analyzing large IP portfolios and drawing insights from the content.
- Electronic billing – Lawyers’ billable hours are computed automatically.
Rayo explores the major areas of current AI applications in law, individually and in depth here.