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Artificial Intelligence: Knowing When It's Right for Your Firm
Gone are the days when being the best lawyer was enough to guarantee landing and retaining clients. Clients are demanding that firms incorporate automation and increase their efficiency. Clients are relying on automation to streamline the work they outsource, and they expect their law firms to follow suit. To this end and to remain competitive, law firms need to offer their clients innovative solutions and build artificial intelligence (AI) into the core fabric of their practices.
Many people have an immediate negative reaction when they hear the term AI, thanks largely to Hollywood-inspired images of the rise of the machines. However, when it comes to AI for law firms, the reality is far from the Skynet takeover, or even technology like Siri or Alexa. Institutional AI is far less flashy, and is entirely driven by data.
By utilizing the firm's existing data, AI can create new avenues of revenue generation and client development that previously hadn't existed. Refusing to embrace new technologies is no longer an option — boosting efficiency and offering unique solutions is the only way to meet client demands in today's market. The key is figuring out how best to make AI work for you.
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