Artificial Intelligence — through applications powered by natural language processing is rapidly transforming the legal services industry. The trick to getting the most out of these market solutions are knowing how to sift through all the noise.
A McKinsey & Co. report on “The Age of Analytics” hits on the value of AI and deep learning to innovate industries on a global scale. Looking specifically at lawyers, the report cites the value deep learning and natural language processing can bring by automating processes to provide enhanced consultation. The report estimates that 31% of activities could be automated with machine learning. This efficiency boost is directly correlated with a firm’s ability to generate more revenue.