From Emily Foges, CEO of Luminance
Artificial intelligence in the legal profession has truly
come of age. This makes it a hugely exciting time to be at the forefront of
technology innovation for the sector.
In the past, legal AI platforms have used bespoke solutions
to assist lawyers in the complex field of due diligence. Looking ahead, with a
new generation of machine learning that can learn and understand in a similar
way to the human brain, we will see a growth in popularity of technology that
is easy to adopt and no longer requires extensive training.
A key challenge I see in the future is tackling the notion
of ‘accuracy’, which should never be applicable in the legal profession.
Different lawyers may disagree on interpretations, so judgement is key. With
the risk of missing important contractual details inherent in any due diligence
process, manual or otherwise, I think we will see an even greater appetite for
AI technology that does not replace the role of the lawyer, but speeds up the
review process to give lawyers more ‘thinking time’.
Emily Foges is CEO of Luminance (https://www.luminance.com/).
Luminance was named ‘Best AI in Legal Tech’ in the 2017 Global Annual
Achievement Awards for Artificial Intelligence and operates around the world
with law firms including Slaughter & May, Cravath, Swaine & Moore,
Roschier’ Uría Menéndez and BA-HR, amongst many others.
