• Colleague Jayne Navarre has been following legal AI for some time, and now she has even tried a Bot to review a contract. Check out her thoughts and experiences here.

 

“…Axiom, has … announced the launch of ‘AxiomAI’, a programme that leverages AI to improve the efficiency and quality of its contracts work.”

Thomson Reuters has partnered with UK-based data analysis company, Logical Construct, on an AI-driven document analysis offering for its institutional and financial services clients.”

 

  • All of these thoughts from IBM about digital marketing are relevant to law firms, or will be in the very near future.

 

  • Yes, AI will eliminate jobs and create more than a few new ones. But the net impact will be loss. Google is doing something about it:

“That’s why today, we’re announcing a $50 million initiative to help people prepare for the changing nature of work. This two-year commitment will fund nonprofits focused on this issue, with our first grantees in the U.S. and Europe; we have plans to expand to other regions soon. These organizations will also be able to draw on Googlers’ volunteer time for technical advice. Combined with our $50 million effort to help close the global education gap, Google.org has now committed $100 million to supporting education and economic opportunity—our largest giving initiative to date.”

 

  • Speaking of Google, most of the tech giants are putting their money (and PR machines) behind AI. I expect this a combined reflection of reality and their efforts to pander to Wall Street analysts who, these days, are smitten with all things AI.

Microsoft’s new vision statement, released yesterday is: “Our strategic vision is to compete and grow by building best-in-class platforms and productivity services for an intelligent cloud and an intelligent edge infused with AI.”

In their Q1 earnings call the CEO of Alphabet, Google’s parent said,”In the long run, we’re evolving in computing from a ‘mobile-first’ to an ‘AI-first’ world.”

According to CNBC, “Facebook has also invested in both long-term AI research and AI product enhancements….”

During Tuesday’s analysts’ call, Apple’s CEO, Tim Cook said: “… we are very focused on autonomous systems from a core technology point of view. We do have a large project going and are making a big investment in this. From our point of view, autonomy is the mother of all AI [artificial intelligence] projects. And the autonomous systems can be used in a variety of ways, and a vehicle is only one. But there are many different areas of it, and I don’t want to go any further with that.”

 

  • I have written several times about the fact that AI technology is progressing much faster than laws, regulations and even discussions about AI ethics. KPMG has just issued a report “An Ethical Compass in the Automation Age.” Number one of their nine recommendations is, “start an ethical discussion within the company.”

“While the cost savings and business model enhancements are potentially huge, without equal attention being paid to labor force impacts, compliance requirements, societal implications and alignment with an organization’s core values, AI-driven transformations can lead to significant risk.”