Legal operations professionals are increasingly turning to artificial intelligence (AI) to streamline processes and drive efficiencies in their work. At a recent Wolters Kluwer ELM Amplify 2024 User Conference session titled “Getting Real with Artificial Intelligence in Legal Ops: Disruptor or Opportunity?”, experts discussed the practicalities and potential benefits of AI in the legal ops field.
One key theme of the session was the importance of understanding the reasons behind implementing AI. It is crucial to connect the technology to clear business goals, such as improving efficiencies or cost savings, rather than adopting AI just for the sake of it. Data was highlighted as a crucial element in the path to AI-powered solutions, with effective data integration significantly enhancing the success of AI-driven technology implementations.
Participants at the session shared their experiences with experimentation and learning. A “fail fast” approach was emphasized, with initial failures providing valuable lessons for future implementations. Companies are exploring ambitious plans for scaling their AI solutions, with one focusing on applications in corporate governance and mergers and acquisitions, while another is using data to choose the right law firm for each matter.
The potential of AI in the legal operations field is immense, and companies are making significant progress in leveraging the technology to improve performance and results. To learn more about how AI can enhance legal operations, interested parties can download the free eBook “How to leverage AI in your corporate legal department.”
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