Understanding how the organization will adopt the technology and including all key individuals - from the influencers to the naysayers - are critical to the successful rollout of AI. Understanding the use case, implementation, and return on investment are especially important bringing in nascent technology means you must have a strong change management process. As much as AI can be used, there remains a bigger challenge of whether it will be used. "Technology for technology's sake" isn't a solution. Legal should have a clear picture of success and should come prepared with use cases to illustrate the desired outcome. What problems will it solve? What is the implementation process? What kind of support and training will they provide? What does the return on investment (ROI) look like? On the user side, legal departments must do their homework with stakeholders before they rush into buying a tech solution. Legal technology vendors should clearly lay out the purpose of their AI solution. Transparency in the selection process will go a long way toward choosing a product that does solve those specific issues. To unlock these benefits, look for vendors that have a clear roadmap and will work with your organization to develop a successful rollout plan and deploy their AI+ELM solution to augment and enhance your capabilities. So, while AI is not a “magic bullet,” it offers genuine benefits, not just the reduction of “time spent in the process” but improvements to consistency, transparency, and mitigation of risk, all of which directly impact the top and bottom lines of your business. Where AI excels is in augmenting the work of legal professionals (typically the stuff they don’t want to do), providing insight from large, unstructured, unseen data and automation of simple, highly repetitive tasks. True, AI is not sufficiently advanced to replace lawyers or remove critical thinking from processes, but this does not mean there isn’t a huge amount of value in what AI can do now. “They are better marketed as augmenting a procedure, improving the performance of a team or workstream, or adding automation and precision to workflows.” “We have yet to see AI tools in this industry that fully replace people or processes,” one e-discovery specialist says in a LegalTech News piece. The most common blowback against this is simple: AI-enabled technology isn’t worth the hype. Let’s look at the three most common arguments against AI: So, with all the insights and efficiency this combination of AI and ELM can provide, why are some still hesitant to embrace the change? The embrace of this paradigm shift is not universal – and their arguments deserve examination. This combination enables legal to operate faster, more accurately, and more efficiently - in everything from invoice processing and contract management to vendor management and many other tasks. Today, the top ELM tools combine the powers of artificial intelligence with existing ELM rules to offer a game-changing solution for legal teams. The second paradigm shift is happening now, taking advantage of the advances in artificial intelligence (AI) and machine learning technology. After that, the first paradigm shift occurred when the best ELM platforms began to facilitate engagement, focus on process, offer a user-friendly environment, empower organizations and enable management of many other legal methods. For several years, ELM was limited to matter management and spend management. The history of enterprise legal management (ELM) is a study of slow-moving but immensely consequential shifts in purpose, mission and access. Nick Whitehouse is managing director of the Onit AI Center of Excellence.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |