AI Tools Pros and Cons for Lawyers and Law Firms

These days, artificial intelligence and machine learning are buzzwords that very few people still need to understand. However, whenever a novel concept is introduced, people tend to be hesitant to embrace it. This also applies to legal professions. Using legal AI tools like Microsoft Copilot for lawyers presents several benefits and drawbacks for lawyers and could greatly impact their clientele and professional practice. It resembles a two-edged blade. It may mold your law firm and client relationships, but you must use it wisely. In this article, we will be evaluating the pros and cons of incorporating AI into your legal practice.

Pros of Legal AI Tools

• Excellent Legal Research

  Associates and paralegals are frequently employed by large law firms to handle the “grunt work” of drafting documents and legal research. However, solo practitioners and smaller legal firms have had challenges in finding time to complete this task on top of their other obligations. Numerous repetitive operations that often take up a large portion of a lawyer’s time can be accelerated and automated using legal AI tools like Copilot. With little to no effort on the part of the user, the majority of common and routine tasks—like contract analysis, legal research, conflict screening, deposition question outlines, and extensive document reviews—can be completed in as little as five minutes.
  

  

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• Predictive Analytics

  For their clients to determine whether to pursue the lawsuit or accept an out-of-court settlement, attorneys typically have to predict the outcome for them. This prediction can now be simplified using legal AI tools with an accuracy of 90%. Based on past data, Copilot can assist lawyers in evaluating and analyzing the possible results of their cases, which can help with the strategy development of each case. Legal firms use the predictions from Copilot to create strategies for litigation, expedite settlement talks, and reduce the number of cases that are tried. This helps lawyers set reasonable expectations for case results and value with clients.

• Drafting Documents and Contract Review

  Another advantage of AI in the legal industry is the capability to produce legal documents like agreements, contracts, and briefs more quickly and accurately, saving lawyers money, time, and stress. It’s like having an AI legal assistant who works around the clock and completes tasks in less than five minutes. Copilot for Microsoft 365 is also capable of contract review, which involves looking through a sizable number of contracts, filings, and legal documents to find errors, contradictions, or sections that might need to be updated because of changes in the law. Lawyers must review contracts in large quantities to advise clients and provide comments and redlines. Consider a company where thousands of contracts have to be examined. You need to maintain a record of each contract’s financial commitment, date of renewal, expiration, and more. AI is capable of handling such duties in a law firm effectively.

• Automating Lesser Tasks

  Automating certain processes frees up lawyers’ time so they may interact with clients and conduct in-depth case analyses. It contributes to the efficiency of law firms. A lawyer’s work involves a lot of client engagement. Lawyers can discuss crucial issues with their clients thanks to automatic document review and legal research, which increases the likelihood of a positive verdict. Also, AI chatbots can be used by law firms to answer queries and resolve client issues. These chatbots, driven by artificial intelligence, can offer people initial legal guidance and help with onboarding. Additionally, by gathering data before human interaction, chatbots can act as a buffer between legal firms and potential clients. These bots will direct clients to an attorney if their case calls for legal aid.

Cons of Legal AI Tools

It is important to remember that, even though using AI in the legal industry may look like the unicorn-shaped, magical helper you’ve always wanted, there may be unintended consequences that lawyers should be aware of before hopping in.

• Data Privacy and Ethical Issues

  It is frequently necessary to upload private client documents and data to the cloud or internet to use legal AI tools. Data security and privacy issues arise when sensitive legal data is stored in AI systems. In the unlikely event that the platform’s security safeguards are compromised, there may be dangers to client confidentiality. Also, the ABA’s competence rule introduced a “technology clause” in 2012. An attorney’s principal ethical obligation is to give knowledgeable legal aid, which entails cautious technology management. In essence, improper handling of AI tools may constitute an ethical violation which could cost the user their job, license, and/or reputation.

  Overreliance on Technology

  Legal practitioners may lose their fundamental research and writing abilities if they rely too much on legal AI tools. This could compromise their competence in scenarios when AI tools are not available or appropriate. AI is software, and errors can happen just like any other technology. Workflow disruptions brought on by network problems, malware, or cyberattacks may jeopardize client data. It’s important to keep our abilities up to date and avoid becoming overly dependent on AI software or technology.

  Limited Contextual Understanding

  Legal AI tools may have trouble comprehending context, which could result in answers that are unclear or irrelevant, especially when talking about intricate or subtle legal issues. Since AI tends to understand technical language better than generally used colloquial language, a lack of contextual awareness may also result in inappropriate recommendations.

Conclusion

As we’ve seen, artificial intelligence (AI) has the power to completely transform the legal industry by bringing about important benefits including less laborious tasks, more accuracy, and analytical insights. Legal firms are forced to embrace this new technology. But take caution—these changes also bring with them difficulties with technology dependence, losing the human touch, ethical dilemmas, and high costs. By implementing AI tools, lawyers will be able to better their work and counsel clients with more time and patience. One could argue that implementing AI in law firms can give the practice a boost and make lawyers’ jobs easier.

How Can Apps4Rent Help Lawyers and Law Firms?

Copilot AI for lawyers is the best legal AI tool and we at Apps4Rent train lawyers on how to effectively integrate it into their workflows. As a licensed Microsoft partner, we organize tutorials for lawyers and help increase their productivity without compromising their ethics. To prevent errors, we can also assist you with setting up your Microsoft 365 account. Our services are highly affordable and our support staff is available 24/7 ready to assist with any issue you might have. Contact us via call (1-866-716-2040) or email and let’s get started!