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One of the biggest complaints from consumers to arise out of the legal world is the cumbersome routine involved in reading and signing documents. For an average customer, the documents look long-winded and verbose, making them uncertain of what they are signing into. With the development of AI, there has been an increasing push towards automating the legal processes involved. Legal Robot is one such interesting solution to the problem.
The inner workings of Legal Robot
Employing an attorney is known to be very costly affair which runs into hundreds of dollars for an hour of consulting. Also, there is the question of biases. Every attorney has his own style of formatting and interpretation of laws and clauses. Legal Robot tries being a bridge between the people and complex legal jargon, by their innovative AI contract review system. Not only can the system help people in decoding the language, but can also help them to spot problems within it on their own accord. This, without the help of any attorney, makes it an interesting solution indeed.
Legal Robot’s system can put itself in the feet of the users and can intelligently identify the complexity of language in a legal document and break it down for the consumer. It can suggest improvements on readability whilst not compromising on the standard of the document. This makes a usually hard ordeal to move smoothly between both the parties involved in the process.
The company goes an extra mile in solving problems for its users when it senses that there would be a need for collaboration with an attorney. This is because certain situations demand a specific skill wherein human intervention can not be ruled out. But Legal Robot’s AI works along with the attorney to expedite the whole negotiation process without straining the user.
Transparency and technological superiority
Legal Robot now works with the Association for Computing Machinery (ACM) to make sure that their AI software is accountable and also transparent to its users. Legal Robot’s founder Dan Rubins believes that this move could remove doubts in the minds of its users. People usually have questions about the decision-making systems and the intrinsic errors that might be built into them. Making the process transparent works in the company’s favor, because it makes it more attractive to the public.
The biggest edge that an artificial intelligence powered legal software has over a traditional legal business is that the machine can read millions of legal documents within an hour. And since AI also has the inherent capability of learning over data, it is possible for it to revolutionize the sector.
Rubins believes that a lot more AI legal services companies would mushroom in the near future. Competition in the field is always healthy as it can improve the quality of the services. The market demand is huge and there is plenty of room for all kinds of legal AI companies at the moment. Smart contracts can not only ease the way business partnerships are forged but also improves the general outlook of the legal sector in the eyes of the public.
Original article: Legal Robot Helps Automate Legal Process at AI in Businesses / Machian Future
