FOLLOW THE MONEY. If anyone at your firm is still not feeling threatened by ALSPs (and the burgeoning strength of in-house legal departments, and AI), drop into your next conversation that the PE firm with controlling interest in LegalZoom (valuation = $2 billion), just obtained controlling interest in Axiom (or at least what is arguably the most important of Axiom’s three parts).
Here’s CLOC’s latest research.
I have a few thoughts. It is an interesting report, but be careful. With 200+ participants, we can can have SOME faith in the generalizability of the findings, but with caveats.
Note that half of the participating companies not classified as “other” are either tech or financial services. If those aren’t your markets, these results may not be relevant to you.
Do not pay attention to any of the industry breakdowns (and quite a few are presented) except those two industries (tech and financial services) as the number of respondents for all others is 24 or fewer and most are in single digits. These charts may be hard to ignore, but really, the differences are probably noise.
Same with company size. These respondents tend to be from pretty big companies (most have revenues over $4.5B and annual legal spend over $11.7M). If that’s not your market, caveat emptor.
Statistics carried out to 2 or more significant figures (e.g., weighted average on a 1-5 scale = 3.79) are absolute nonsense with samples this small.
A study like this can be useful if you think of it as very qualitative/exploratory research and don’t pay much attention to the numbers. Look for overall conclusions and general trends and DO NOT look for differences by industry, company size, etc.
Again, if your client focus is not relatively large companies from tech and financial services, this research is probably not for you.
Beginning today, this blog will no longer cover cybersecurity or blockchain per se. There’s just too much out there for me to do justice to AI and blockchain (including cryprocurrencies). I will continue to include news about blockchain that is directly AI-related. At the same time, I will redouble my efforts to cover access to justice (A2J) developments.
- READ THIS → A New Device Can Hear Your Thoughts. The implications are enormous, for everyone, but especially for the disabled.
- So you think AI in legal is a big deal? I see AI stories impacting just about every industry you can imagine (especially military/defense), but AI in healthcare regularly tops the list. There are myriad implications of this for the legal industry. Here are a few of the most interesting from just the past week:
- From the New York Times: How Artificial Intelligence Could Transform Medicine. Post.
- Why Do We Need Artificial Intelligence in Healthcare? Post.
- Global Artificial Intelligence In Healthcare Markets, 2019-2025 – Focus on Drug Discovery & Precision Medicine – ResearchAndMarkets.com. Post.
- Medical Artificial Intelligence Market to See 50% CAGR Growth. Post.
- A project on artificial intelligence enables the improvement of colorectal cancer screening. Post.
- How Artificial Intelligence is Redefining Consumer Health Experiences. Post.
- As Artificial Intelligence Matures, Healthcare Eyes Data Aggregation. Post.
- ASHP Commission to Look at Impact of Artificial Intelligence on Healthcare, Pharmacy. Post.
- Turning Health Data into an Asset for Artificial Intelligence. Post.
- These Researchers Are Using Artificial Intelligence to Make a Better Flu Vaccine. Post.
- Artificial Intelligence Used To Study Risk Factors In Type 1 Diabetes. Post.
- Quantitative Analysis of Neural Foramina in the Lumbar Spine: An Imaging Informatics and Machine Learning Study. Post.
- Cleveland Clinic launches Center for Clinical Artificial Intelligence. Post and post.
- FDA grants breakthrough device designation to artificial intelligence technology for cancer diagnosis. Post.
- Artificial intelligence in breast screening – will it work? and if so, will patients accept it? Post.
- Algorithms Can Now Identify Cancerous Cells Better Than Humans. Post.
- How Artificial Intelligence Advances Could Actually ‘Make Health Care Human Again’. Post.
- A doctor explains how artificial intelligence could improve the patient-doctor bond. Post.
- Research Area | Novel Ethical and Explainable Artificial Intelligence based Digital Medicines and Treatments. Post.
- Smart Stethoscopes and Smart Toilet Seats – Coming to a Doctor Near You?. Post.
- Lash Group to Amplify Patient Engagement Capabilities with AllazoHealth Artificial Intelligence and Predictive Analytics Tool. Post.
- Amazon Web Services to Beth Israel Deaconess: Tell us how AI can make your hospital more efficient. Post.
- How NeuroMetrix seeks to better relieve pain with AI. Post.
- Amazon is working with a Harvard-affiliated hospital to test how AI can simplify medical care. Post.
- Optimizing Analytics for Hospitals in a Value-Based Era. Post.
- New ORNL AI tool revolutionizes process for matching cancer patients with clinical trials. Post.
- Sight Diagnostics’ New Device Uses Artificial Intelligence for Blood Tests. Post.
- Implementation best practices: Launching clinical decision support. Post.
- UK Startup Karantis360 Taps IBM Cloud for AI-Powered Assisted Living Solution. Post
- Microsoft’s App For The Blind Called A Kid ‘Contemptuous.’ Here’s Why That Matters. Post.
- AI — much hype? 40% of A.I. start-ups in Europe have almost nothing to do with A.I., research finds. Post.
- Special focus Brexit: Standing alone. “David Wootton, a lawyer and former lord mayor of London, points to the development of smart contracts, blockchain, artificial intelligence and crypto-assets ‘where there is no law at the moment. English law needs to develop it and grab it to become the global legal system for those new technological developments’, he urges.” Post.
- Legaltech and the law: How tech will change the practice. :… (T)he Law Society’s 2018 survey showed that 88 per cent of the decision-making respondents believed technology helps to improve the delivery of legal services.” Post.
- Here’s the latest from Mark A. Cohen: “Legal Services” Are Whatever Buyers Need To Solve Business Challenges.
- From The Law Society of New South Wales: Beyond the jargon: what does AI mean for lawyers? Post.
- A2J, from The Florida Bar: Florida Bar Launches Newly Enhanced Lawyer Referral Service. “The service, which is free to use, utilizes artificial intelligence categorization to help guide users from their computer or mobile device and instantly connects them with the right lawyer for any legal situation.” Post.
- From The Law Society Gazette: Solicitors represented at arm’s length on AI advisory group. Post.
- A.I. Judges: The Future of Justice Hangs in the Balance. “Automation is creeping into the courtroom, and it’s going to change the way we think about the law.” Post.
- From Evolve the Law: Towards an AI Policy and AI Incident Response Plan for Businesses (Part 1). “Part one of a three-part series on the motivation for AI policy and incidence plans for businesses.” Post.
- Artificial Intelligence Regulation May Be Impossible. “…(W)hat happens when we don’t have the code of ethics, laws, government accountability, corporate transparency and capability of monitoring the space to be able to achieve AI regulation?: Post.
- Baidu chief wants ethics research in AI strengthened. Post.
- This is a fun infographic presentation: Artificial Intelligence Stats Show How Machine Learning Will Evolve Our Lives In Future. Post.
- “Important that those of us in the U.S. realize legal tech, its entrepreneurs and products are blossoming worldwide.” Tweet.
- “Legal research AI tools can help free you from routine work.” Tweet.
From Law Firms:
- McGuireWoods Consulting: Emerging Technologies Washington Update February 2019 #4. “Reps. Brenda Lawrence (D-MI) and Ro Khanna (D-CA) introduced a resolution calling for guidelines for the ethical development of artificial intelligence.” Post.
- Dentons, Mike Hollinger: Emerging growth and venture technology video series part eight: Automotive commerce. Post.
- 5 Ways Autonomous Vehicles Will Change Law That You Might Not Expect. “Eric Tanenblatt, the global chairman of public policy and regulation at Dentons, discusses how self-driving cars may lead to change in zoning laws, public finance, and more.” Post.
- Cynthia O’Donoghue and John O’Brien, Reed Smith: UK Regulator To Focus On Ad-Tech. “Ad-tech practices heavily rely on the use of personal data and artificial intelligence.” Post.
- Cole Silver, Blank Rome: In an Era of Rapid Technological Change in the Legal Market, Do Relationships Still Matter? Spoiler alert, ‘yes’. Post.
- Norton Rose Fulbright launches tech consultancy. “It will advise on topics such as Artificial Intelligence and Distributed Ledger Technologies including blockchain, and cryptocurrencies and will be available to clients globally and across all sectors.” Post.
- Paolo Beconcini, Squire Patton Boggs: China Trademark Office Attempts to Curb Bad Faith Filings. “The introduction of digital searching tools and the use of artificial intelligence may be the key factors in making such provisions effective and drastically reducing the amount of junk applications still filed in China.” Post.
- Taylor Wessing: BodyTech – a new wave of medical devices product liability litigation? (Yes, this piece could have gone under healthcare above.) Post.
- Hausfeld: E-Discovery Trend Alert: A Second State Has Approved a Technology CLE Requirement for Its Lawyers. Post.
- Linklaters announces strategic investment in, and collaboration with FinTech company Nivaura. “…focused on automating the issuance and administration processes for financial instruments.” Post.
- DLA Piper: WIN Wise – Disclosure and disruptive innovation? “(Some) systems … can assess a document’s relevance and prioritise similar documents for human review. Others can actually review the documents themselves using artificial intelligence (without the significant cost of human review and human error and in a fraction of the time).” Post.
From/about Legal Vendors:
- Meet ContractPodAi: Revolutionizing Your Contract Management From Start To Finish. Post.
- Oasis Adds H5 Matter Analytics® to eDiscovery Product Offerings. Post.
- Fastcase Adds Leading Section Titles From the American Bar Assocition (ABA). Post.
- Michael Tranter, Accellis: Addressing Critical LegalTech Compliance Risks. “Legal firms are embracing artificial intelligence (AI) to move faster, find connections within case documents, and make decisions.” Post.
- Litera Microsystems Announces Kira Systems as First Content Provider in Litera Connect Program. “…brings together Clause Companion’s clause library which enables users to retrieve and re-use their organization’s best content, and the power of Kira’s AI platform which can find and extract commonly used clauses.” Post.
- “Integration of DataVisor Enterprise on the Azure AI tool set provides cloud users with high-reliability fraud detection insight and real-time response across billions of accounts.” Post.
- “Ez-XBRL Solutions, Inc. announced today its new Inline XBRL (iXBRL) solution that enables SEC registrants to rapidly convert their existing XBRL tagged data to the iXBRL format.” Post.
From Artificial Lawyer:
- Tish Clyde of Nokia: ‘We Are Hugely Interested In Automation + AI’. Post.
- The Middle Way – An Integrated Approach to Legal Technology. Post.
- Norton Rose Launches Consultancy For ‘AI, Blockchain + Crypto’. Post.
- AI Co. Ayfie Offers Mortgage Doc Analysis, Links With FinTech Platform. Post.
- Neota Logic Launches Dashboards Feature For Better Data Visuals. Post.
- BLTF: The Post-Hype AI Hype, Plus iManage RAVN Is Legal Spotify. Post.
- Dentons Launches Neuroscience-Led ‘NextTalent’ – But What Is It?. Post.
- The Full List – GLH2019 Winners From Around The World. Post.
- NASDAQ-Listed RPA Co. NICE Expands Partnership With AI Co. ABBYY. Post.
- Lawyers On Demand Partners With Eigen To Offer Legal AI Services. Post.
- Are Lawyers Ready to Be Managed by Metrics? “There’s momentum in Big Law firms, corporate legal departments and technology companies alike for a data-tracking system that could have radical consequences for the entire legal industry.” Here’s the very interesting and thorough article by Roy Strom.
- This, from ABA Journal: Facial recognition scanning goes mainstream. “When Taylor Swift performed at the Rose Bowl in May 2018, concertgoers may have seen a kiosk that showed exclusive video clips of her performing and rehearsing. If they paused for more than a moment to watch those clips, then the kiosk definitely saw them.”
- The World’s Biggest Banks Are Doubling Down On Artificial Intelligence. The specific activities of several institutions are explained in this post.
- EY Continues March Into Legal Market With Global AI Deal. Post. (LexisNexis/Law360 subscription required.)
- Deflating Tech Hype Could Help Firms Keep Pace with Competition. “Law firms can partner with clients as a technological resource to help compete with alternative legal services. But that might occasionally require cutting through some of the legal tech hype in the marketplace.” Article from Law.com.
- Robert Gordon University teams up with Addleshaw Goddard to launch legal tech module. “The module covers the basics on what tech is available in current legal practice, the regulatory framework, as well as data analysis techniques.” More here.
- Here’s a bit from last week’s ABA Techshow: Artificial intelligence isn’t a magical unicorn: It’s a powerful tool lawyers are already wielding.
- The New York Times published: Is Ethical A.I. Even Possible? “Building ethical artificial intelligence is an enormously complex task. It gets even harder when stakeholders realize that ethics are in the eye of the beholder.”
- this post (Data Doesn’t Make Decisions) for 3 Geeks and a Law Blog. took Ark up on their offer to write a chapter for their upcoming book on law firm intelligence functions. Some of her thoughts are presented in
- Here’s a very short, fun post from William Vogeler: The Real Reason AI Will Kill Traditional Law Practice. “Some say that frogs, like lawyers, are insensitive to gradual change. A frog apparently will sit in tepid water right up to the cooking point. Some attorneys don’t recognize the world is changing around them until it’s too late.”
- A London law school student posted: Robots are not coming to take our jobs — but they are changing the way we do them. “There is a growing skill gap between how legal services are being delivered and what students are being taught to do and think.”
“From Artificial Lawyer
- Slaughter and May Launches Its Own Legal Tech Programme – Apply Now! Post.
- Linklaters Makes 1st Startup Investment in Nivaura’s $20m Funding, A&O + Orrick Also Invest. Post.
- Juro Publishes Guide to Machine Learning in Legal Contracts. Post.
- Algorithmic Justice Could Clear 250,000 Convictions in California. Post.
- Can Governments Help Grow The Legal Tech Sector? Yes, They Can. Post.
- GLH London: Problem Solving, Jimi Hendrix + Freshfields Interview. Post.
- Clio: Build Us An App And Win $100,000….! Apply Within…. Post.
- Is HK’s Property Platform the Beginning of a True Blockchain Revolution? Post.
- Relativity Bags CTO From Amazon Web Services, Will Add 300 Staff. Post.
- Legatics Works With DLA + Herbert Smith to Build ‘AI Microservices’. Post.
- Can Smart Contracts Solve the AI Limitations Problem? Clause Thinks So. Post.
- TR Launches Mega Platform ‘Panoramic’, Could Crush Several Startups. Post.
From Law Firms:
- Lamar Smith, Ed Pagano, Hans Rickhoff, Christina Barone of Akin Gump: Artificial Intelligence Initiatives Announced By Administration And Federal Agencies. Post.
- Brian P. Bartish of BakerHostetler: Blockchain Initiatives In Healthcare And Other Industries Target Data Integrity, Speed And Analytics. Post.
- Robert A. Musiala Jr. of BakerHostetler: BlockChain Payment Systems Announced By Major Banks And Online Payment Processors. Post.
- Robert A. Musiala Jr. of BakerHostetler: FDA Launches DSCSA Pilot Project Program, Supports Use Of Blockchain Technology. Post.
- Simone O. Otenaike of BakerHostetler: CFTC Makes Cryptocurrency A Priority, Foreign Agencies Take Enforcement Action. Post.
- Y. Monica Song of Dentons: “(In Canada, there have been calls for) a fundamental rethinking of the regulatory approach to firms whose competitive performance is driven by their ability to collect, analyze and use data. Post.
- Alessandro Engst, Valerio Lemma of Dentons: Interoperability Of FinTech Firms. “…(R)egulatory issues are related to the algorithms supporting the partially automated activities.” Post.
- Mark W. Rasmussen of Jones Day: Jones Day Presents: Smart Contracts And Blockchain (Video). Post. (As in-depth as it could be in 2 1/2 minutes.)
- Natalia San Juan of Hunton: Blockchain Legal Resources: Florida Court Finds Virtual Currency Subject To Money Service Businesses Law. Post.
- Cynthia O’Donoghue, John O’Brien of Reed Smith: Updates From The European Data Protection Board. Post.
- Tom Kulik of Scheef & Stone: Unlocking Blockchain: 3 Considerations To Minimize Cybersecurity Risk In Smart Contracts. Post.
- Van Ness Feldman: Emerging Technologies Update. There’s all sorts of AI-related material in this lengthy post.
- John M. Rogitz, registered patent attorney with his own practice: Japan Patent Office Case Examples on Artificial Intelligence Offer Guidance for Other Offices on Treating AI Inventions. Post.
- Satya Law Group: Veteran Attorneys Form The Satya Law Group and Partner with AI Development Firm To Offer Consulting And Legal Services in the Digital Asset, Blockchain and Crypto Space. Post.
- This, from Mike Quartararo of eDPM Advisory Services: Metrics? What Metrics? KPIs That Legal Ops Professionals Need To Track (Part I).
- “Ari Kaplan spoke with Jack Newton, the CEO and co-founder of Clio, a leading practice management software platform.” Clio and the cloud, 10 years later. Here’s the post from ABA Journal.
- eDiscovery Daily Blog posted Understanding Blockchain and its Impact on Legal Technology, contributed by Tom O’Connor. This is the first post in a series of six.
- BillerAssist posted: What is Machine Learning and How Does BillerAssist Use It?
Other Blockchain News:
- MasterCard, Amazon and Accenture Partner To Establish Transparent Blockchain Supply Chain. “Scanning the tag on a pair of jeans, for example, would give customers its supply chain origins from start to finish, along with the opportunity to send a token of appreciation to the people who produced them.” Post.
- Overstock is still a retailer but it wants to be a blockchain company. Post.
- Mercedes-Benz to Use Blockchain Tech for Sustainable Transaction Book, Supply Chains. Post.
- Australian Regulator Trials Blockchain to Automate Transaction Reporting. “The two partners will specifically examine how blockchain and smart contracts, as well as other technologies, can help entities such as banks to automate reporting of international funds transfer instructions (IFTIs) to the regulator.” Post.
- Becker’s Healthcare published: 5 things to know about blockchain smart contracts.
- Olga V. Mack penned this: A Perfectly Imperfect Marriage: Blockchain And Open Source. “The blockchain industry has not been very attentive to the selection of licenses used for their projects. It’s time for that to change.”
- Axiom’s upcoming public listing has generated a lot of discussion; here and here are two I found interesting.
- Are Robots Coming For Lawyers? Not Until They Can Translate Legalese. “AI, do your worst. If it took me over five minutes to explain a simple subpoena to a colleague of mine with a medical degree, I can only imagine how many more years of programming you need before you will be able to accomplish the same task.” Post.
- Former CFTC Lawyer Partners with Jenga BCG to Launch Regulatory Advisory Firm for Blockchain Business. Post here.
- Yurika Ishii, Associate Professor at the National Defense Academy of Japan posted: Blockchain Technology and Anti-Money Laundering Regulations under International Law. “This technology carries certain vulnerabilities to criminal activities, particularly to money laundering, an act of concealing the origin of profits from illegal activities.”
- “The (UK) government has awarded grants totalling over £6.4m to 18 legal artificial intelligence (AI) and data analytics projects.” Details here.
- “The Australian National University has become the first in the country to secure US$1 million to research and create courses around the legal implications for the law profession and governments from the emerging technologies of blockchain, smart contracts, and digital payments.” More here.
- 2019 Could Be A Big Year for Contract AI: Survey. This story from ALM reports on a tiny survey, but some of the comments are interesting.
From Law Firms:
- William Fry: Catherine O’Flynn, Darran Brennan: AI in the Workplace: Where employment law meets artificial intelligence. This is an interesting, in-depth post from Ireland.
- Cooley: Alexander Selarnick: PLUS D&O Symposium: Rise of Cryptocurrency and Blockchain Creates New Exposures. Post.
- Foley & Lardner: Chethan K. Srinivasa: This post is about autonomous vehicles and their regulation: Navigating The Road Ahead … Are You Ready?
- King & Spalding: Katherine Kirkpatrick, Christine Savage, Russell Johnston, Matthew B. Hanson Virtual Currency in Sanctioned Jurisdictions. Post.
- James Goodnow of Fennemore Craig posted this very interesting piece: Why Innovation Dies In Law Firms. “The Biglaw mentality and the startup mentality are anathema to one another. Biglaw is founded on a model of precedent and continuity. Too often Biglaw stifles its most creative voices, remains complacent instead of hungry, and focuses on staying the course rather than acknowledging that the very foundations of our industry are in flux.”
- Jones Day: Francesco Squerzoni, Vinicio Trombetti, Marco Lombardi, Marco Frattini, Harriet Territt, Stephen J. Obie: Blockchain And Smart Contracts: Italy First To Recognize An Overarching Legal Foundation.
- On To The Next Wave Of Analytics: A Conversation With Nik Reed Of LexisNexis. Post.
- ROSS: 3 Ways Law Firms Can Use Artificial Intelligence. Post.
- Blockchain: Separating the fact and fiction. ” …(I)n contrast with the fact that blockchain in 2018 officially entered the trough of disillusionment (according to Gartner), there are several very good practical reasons why in 2019 it should be on everyone’s radar.” Offerings from several vendors are discussed here.
From Artificial Lawyer:
- AI Pre-Screening Technology: A New Era for Contracts? – ThoughtRiver. Post.
- EY Law Rolls Out Legal AI Doc Review Capability Globally. Post.
- HighQ Grows India Engineering Team to 250 People, Opens New Office. Post.
- 1st Legal Tech Incubator To Open in India, Run By Cyril Amarchand Mangaldas. Post.
- How Language Shapes A Legal Tech Ecosystem. Post.
- The Curious Case of Lawyers – By AIJA President Xavier Costa. Post.
- Neota Logic Helps KPMG Australia Build Immigration Expert System. Post.
- Meet Counself – Addressing Legal AI System Risk & Compliance Post.
- The NHS’s 10 Principles for AI + Data, A New Benchmark for Lawyers? Post.
- Don’t miss this excellent compendium by
- For more than two years I’ve been writing that systems such as Wordsmith (from Automated Insights) can do a very good job of drafting law firm ‘content marketing’ materials such as client alerts. Here’s some solid (frightening?) evidence of how far such systems have progressed. From The Guardian: “AI can write just like me. Brace for the robot apocalypse.” More about this tech here.
- Major (and heavily covered) AI news from the US government last week:
- Pentagon outlines its first artificial intelligence strategy. Coverage here.
- White House Fact Sheet: President Donald J. Trump Is Accelerating America’s Leadership in Artificial Intelligence. Official release here. Other coverage here and here. And here’s a legal spin from Ballard Spahr, here from Gibson Dunn and here from Reed Smith.
- There’s quite a bit more news about AI, blockchain and other and tech in America (national and city news) in this weekly roundup from IP Watchdog. IP and Innovation on Capitol Hill: Week of February 11.
- Harvard Business Review: AI Needs to Become Less Elitist. “The best thing the technology community can do to help is to debunk the notion that only people who know how to code can work with AI.” Post.
- This piece is not legal AI per se, but is something lawyers should read: How to tell patients AI is part of their care. Three important situations are discussed.
- Luxembourg Passes Blockchain Framework Bill Into Law. “The new law aims provide financial market participants with more transparency and legal certainty in regard to the circulation of securities with blockchain technology. The bill is also geared to make the transfer of securities more efficient by reducing the number of intermediaries.” Post.
- From LawNext, here’s an interesting interview with Cicso’s Mark Chandler about law department innovation. (IMHO, the best content starts at about the 12-minute mark.) and
- EDRM At Duke Law School Releases TAR Guidelines. “Demystifying the technology assisted review process and providing some guidance on how it can be applied to document review in discovery.” “The difference between manual human review and TAR — and ultimately, the benefit to the legal profession and clients — is that machine learning programs are capable of making relevancy judgments much more quickly and consistently than humans.” Post.
- I guess this is good news: Vatican, Microsoft team up on artificial intelligence ethics. More coverage here.
- More law firms should target AI and blockchain with industry group initiatives. One reason is: Venture Capital Funding For Artificial Intelligence Startups Hit Record High In 2018. Post.
- This five-minute read is worth your time: Gartner Debunks Five Artificial Intelligence Misconceptions.
- From the UK: A.I. Judges: The Future of Justice Hangs in the Balance. “Automation is creeping into the courtroom, and it’s going to change the way we think about the law.” Post.
- And here’s a similar development in Singapore: How will the judge decide? Law firms look to big data. Post.
- This is an old (2017) academic piece from Germany, but may be of interest to some: International Law and Artificial Intelligence.
- This survey only had 72 respondents, but the results may be directionally interesting if statistically imprecise: 2019 Survey of Law Library Use of Artificial Intelligence – 40% of Law Firms Sampled were Using AI Tools to Predict Money Awards of Damages.
- Here’s a very useful overview of: 8 Thought-Provoking Cases Of NLP And Text Mining Use In Business.
- Herbert Smith Freehills has launched a new initiative that will allow its global staff to spend up to 10 days per-year working on “innovation projects.” Post.
- Legal Analytics Market Expected to Reach $1,858.9 Million by 2022. “The legal analytics market is projected to grow from an estimated USD 451.1 Million in 2017 to USD 1,858.9 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 32.7% during the forecast period.” MUCH more in this 111-page report. (It cracks me up when forecasts like this show projections to five or six significant figures. “$1.9 billion” would have been plenty precise.)
- From Australia’s Legal Practice Intelligence: Now we know how one of the Big4 will take over the legal services market. “KPMG has shown its hand on how it aims to become the dominant global player in legal services. Will it be through Artificial Intelligence, through Uberisation, through weaponising its battalions of accountants?” Post here.
- From MyShingle.com: AI Lawyers Help Build Business for Human Lawyers. “AI and other technologies can actually help create jobs for lawyers by helping to aggregate tiny law problems in one place so that the ensuing economies of scale justify the cost of a lawyer.” Post here.
- iManage and BLM Law Team Up on AI Claims Analytics Project. Post.
- This year’s onslaught of hackathons is upon us. Here are two:
From Law Firms:
- Ward and Smith: Chris Edwards: Discovery For A Modern Age: E-Discovery, Metadata, And Cost Savings. Post.
- Holland & Knight: David P. Sofge: Caught In The Middle With AI. “Some tech companies have been caught in the middle of this ideological fault line, called upon to address internal disagreements between marketing people intent on landing lucrative government contracts and, on the other side, key scientists and research personnel who are asking for clarification on the terms and conditions for use of their AI systems.” Post.
- Fenwick & West: Michael T. Esquivel: How AI Is Transforming Healthcare: Diagnostics, R&D And Therapeutics. Post.
- Dentons: Alessandro Engst, Valerio Lemma: Artificial intelligence and big data analytics for the insurance industry: hot topics in the regulation of InsurTech. Post.
- Ropes & Gray: Elizabeth Julia Smith, Stefan G. Herlitz: States Follow The IRS In Joining The Big Data Revolution. Post.
- Perkins Coie: Gwyn McAlpine, Amy Monaghan: Artificial Intelligence: “I Don’t Care If Your Technology is a Ham Sandwich.” 42-minute podcast from ILTA Radio. “In this episode, our guest is Joe Davis….” “We talk about trends and impact of AI in the legal industry, strategy, data science and model training and FOMO. And yes, ham sandwiches.”
- Kilpatrick Townsend & Stockton: Eamonn Moran: The Use Of Artificial Intelligence (Ai) In Financial Services: Some Early Lessons For The Practitioner. Post.
From Artificial Lawyer:
- READ THIS –> Too Much Money To Care About Efficiency? A New York Conversation. “What use is legal tech if some of the very people it is designed to help don’t feel the need to use it, or ask for it to be used…?”
- Which brings me to this related article from The Law Society Gazette: ‘The majority of law firms remain partnerships and money that would be spent on lawtech usually comes direct from the partner profit pool, something that can create a high bar to adoption,’ the report Lawtech Adoption Research, by technology sector analyst TechMarketView, notes. More coverage here and here.
- In this piece, Gabriel Teninbaum, professor at Suffolk University Law School, explains why this is so wrong-headed. Law firms either keep up with tech or get left behind.
- IP + Data Time Stamp Co. iDefendo Launches Public API To Increase Uptake. Post. “Intellectual property and data verification company, iDefendo, has made public an API that it hopes will allow anyone to make use of its technology.”
- “Global legal services business, Herbert Smith Freehills, has successfully completed the first stage of their development partnership with English law litigation prediction system, Solomonic, and have agreed a deal to roll out its analytics platform across their UK disputes team.” Post.
- Back to The Foundations of Deal Tech With Merrill Corporation. Post.
- “Law firms such as Weightmans, DLA Piper, Withers and Kennedys – plus US law firm, Sullivan & Worcester, as well as legal tech companies readers will already know, such as Autto, Legatics and Thirdfort, and many others, have shared in a major funding round run by the UK Government, which is very keen to support legal tech, and especially legal AI.” Post.
- What The Nordics Think About AI, Automation + Legal Tech in 2019. Post.
- “You may have heard that global legal services business, Linklaters, has its very own legal AI platform, Nakhoda. But what is it doing? The answer is: they are trying to reinvent contracting. Why? Because they believe AI, as we have it today, doesn’t work as the legal sector wants it to.” Post.
- Monax Smart Contract Co. Opens Up Public Beta. Post.
- “A survey of 30 professionals from predominantly Fortune 1,000 companies by legal AI company Seal Software found that about a third of them are using legal AI technology and several of them are now using it for a growing number of use cases.” Post. (Note: These are the responses of 30 people and should not be considered necessarily representative of any larger group.)
- AI Pre-Screening Technology: A New Era for Contracts? – ThoughtRiver. Post.
- Gridlogics Announces Launch of ReleSense™ – An AI-driven NLP Engine Built for Patent and Scientific Literature. Release.
- Empowering the Team With A Contract ‘Front Door’ – ContractPodAi. Post.
- “Just when you thought legal blockchain tech developments may have peaked, a new company arrives with an interesting use case: Letters of Credit, primarily for international trade, using smart contracts. The new company is LC LITE.” Post.
Vendor-related or Generated:
- From Infinnium, a software company that aims to redefine how law firms, corporations and other organizations interact with data in order to improve information management, information governance, regulatory and privacy compliance, and e-discovery.” Post. More coverage here. and LawSites: “Making its official launch today is
- Atrium, Justin Kan’s legal tech startup, launches a fintech and blockchain division. Post.
- Slaughters-backed AI platform Luminance wins Big Four client: Post. (Spoiler alert: it’s EY.)
- Intapp Expands Its Professional Services and Legal Customer Base. Release.
- This is an old (2016) academic piece, but may be of interest to some: The Commercial Law of Bitcoin and Blockchain Transactions.
- ICO No-No: On 2nd Look, Judge Grants SEC Injunction in Blockvest Case. “U.S. District Judge Gonzalo Curiel granted a renewed injunction bid finding that Blockvest’s promotional materials constituted an offer of unregistered securities containing materially false statements.” Attorneys from several Big Law firms are quoted in the story.
- Reed Smith: Herbert F. Kozlov, Anthony J. Diana, Le-el Sinai, Jeffrey D. Silberman: Lessons Learned – The Importance Of Governance And Regulatory Oversight In Storing Crypto Assets. Post.
- Pryor Cashman: Eric D. Sherman, Marion R. Harris: Navigating The Risks Of Blockchain Technology In Commercial Real Estate. Post.
- Morrison & Foerster: Dario F. de Martino, Spencer Klein, Julie O’Neill, Mary Race: Transforming The U.S. Healthcare Industry With Blockchain Technology. Post.
- Skadden: Brian D. Christiansen, Michael E. Leiter, William Ridgway, William J. Sweet, Jr., Donald L. Vieira, Joe Molosky: Upcoming New York State Cybersecurity Regulation Deadlines. Post.
- BakerHostetler: Brian P. Bartish: Scams, Hacks, And Illicit Financing: Blockchain Threats Continue To Abound. Post.
- BakerHostetler: Diana J. Stern: Blockchain Capital Markets Initiatives Continue Across The Globe. Post.
- BakerHostetler: Nicholas C. Mowbray: Blockchain Pilots For Supply Chain And Land Titles, Improved Analytics, And Decentralization. Post.
- Cadwalader: Mark Highman: SEC Commissioner Hester Peirce Describes Regulatory Challenges Posed By Cryptocurrency. Post.
- Ken Grady doesn’t post often enough, but when he does it’s always worth the wait. Don’t miss this thought provoking piece. The Boring Law Firm: The model is dead, may it rest in peace. “Large law firm partners like owning their businesses and running them how they please. Right now, it pleases them to make money with ‘few’ risks. Altering the model suggests risk. We are in a battle over time — can they run out the clock (retire) before they lose the game.” And here are Ken’s latest thought about AI taking lawyers’ jobs.
- And here’s a bit more about AI and law firm jobs from Sam Skolnik of Bloomberg Law: Artificial Intelligence Creeps Into Big Law, Endangers Some Jobs. “”Here’s what won’t be going away: sophisticated, face-to-face human interaction between client and lawyer,’ said Tim House, U.S. senior partner for Allen & Overy.”
- If you’re new to this topic, you may find this post by Neil Sahota a useful introduction: Will A.I. Put Lawyers Out Of Business?
- Speaking of interesting thought pieces, check out this post from Jordan Furlong about technology, firm culture, portable practices and shopping malls (really!). Law firms’ shopping mall problem.
- This post from myshingle.com is full of interesting statistics regarding the economics of Big Law versus small/solo firms and the implications for technology. The Reason Why Legal Tech Remains the Domain of the Legal Elite: It’s All About The Money.
- Here’s a worth-reading post by Rita T. Young, law librarian at K&L Gates (but not representing the firm’s views). As one would expect, well-researched and thoroughly footnoted! AI & the Practice of Law at the Crossroads: Where Are We Going? “Exploring the professional ethics implications of AI in the legal sphere.” “What I do want to talk about are the potential repercussions of the AI you are using now….” “The good news? There is still time to fix things because, if you’re reading this, you’re probably still in practice and your client doesn’t realize what you did because you haven’t either.”
- Here’s an interesting post about “HHS receiv(ing) authority to operate the first blockchain-based tool in the federal government.” ““Our goal is actually to leverage and harness all of the data within HHS, which is about $24.8 billion in spend, about 100,000 contracts, about 1 million pages of unstructured data, and provide that information to the 20,000 members of the acquisition workforce in real time at their fingertips so that they can actually make good business decisions,” Jose Arrieta, associate deputy assistant secretary in HHS’ acquisition division, said during a recorded demo of the tool on Dec. 12. “We believe that without blockchain this would not be possible.”
- I have posted here many times about the coming of chatbots to the legal space. Here’s Bob Ambrogi’s take on a recent entry from LexisNexis: Chatbots are Coming to Lexis Advance, to Help Guide Your Legal Research.
- This piece from Information Age includes links to other interesting content. AI, cloud and security — top priorities for enterprise legal departments.
From Artificial Lawyer:
- AI and A New Way of Looking At Contract Pre-Screening. Post.
- Nalytics + Van Doorne Co-Develop Doc Compare Solution. Post.
- Meet Sparqa – Solving the SME Legal Needs Challenge With Tech. Post.
- Meet Evisort, The New AI Platform Set to Rock The $60 Billion Doc Review Market. Post.
From Law Firms:
- Jared Applegate of Barnes & Thornburg has some interesting thoughts about law firms use of data internally (and with clients) in this piece: Data Capture Initiatives Can Bring Technology to Scale.
- Proskauer Rose: Jeffrey D. Neuburger, Jonathan Benloulou: 5 Factors Asset Managers Should Consider When Evaluating Blockchain (Video). Post.
- Kramer Levin: Samantha V. Ettari, Arielle Warshall Katz: Artificial Intelligence In Financial Services: Tips For Risk Management. Post.
- Here’s a summary of Hogan Lovells partner Winston Maxwell‘s comments on Using artificial intelligence to fight hate speech.
- Jones Day: Harriet Territt: What General Counsel Need to Know about Blockchain. This two-minute video is one of a series about blockchain from the firm.
- Bird & Bird: Dr. Michael Jünemann, Jörg-Alexander Paul: In Focus, Blockchain. “Blockchain, the technology that underpins cryptocurrencies like bitcoin, is currently one of the most talked about technologies. Heralded as a ‘game changer’, this technology is disrupting a wide range of industries.” Post.
- Kemp Little: Everything you want to know about artificial intelligence. “The rise of AI will present a host of challenges – ethical, practical and legal – and our specialists are involved with their peers in the law and industry in working out the right responses.” Post.
- Fenwick & West Life Sciences Group: Michael Esquivel: How AI is Transforming Healthcare: Diagnostics, R&D and Therapeutics. Post.
- “Taylor & Associates, a nationally recognized transportation law firm, is pleased to announce it has joined the Blockchain in Transport Alliance (BiTA), an organization dedicated to developing best practices and standards for blockchain in the transportation industry.” Post.
- DLA Piper forms council to drive radical change agenda. “Now we are driving a fundamental change in mindset across our business to embrace radical change and evolve and expand our business through partnering with our clients to help them to succeed in our changing world.” Post.
Post by/about Vendors:
- Artificial intelligence for law firms: An interview with Tony Ensinger of Kira Systems. Post.
- From the ABA Journal and Ed Walters of Fastcase, AI Practice, Not Promise, in Law Firms. “AI-based analysis of data is just getting started; let’s look at the ways it’s already been implemented.” Post.
- This is the biggest news from last week’s LegalWeek in NYC: Legaltech19: New global matter standard to provide “common language” for law firms and corporate counsel. “The Standards Advancement for the Legal Industry (SALI) Alliance is building matter coding that includes area of law and process codes, which it says will foster innovation and provide consistency for buyers and sellers of legal services – needed for better pricing and analytics.” “SALI members include: Association of Legal Administrators (founding member); Allen Matkins; Bloomberg Law; GSK; Greenberg Traurig; Holland & Knight; Honigman, Miller, Schwartz and Cohn; Husch Blackwell; Intapp; Legal Marketing Association (founding member); Level 2 Legal Solutions; LexisNexis; McKool Smith; Pepper Hamilton; Perkins Coie; Prosperoware; Schulte Roth; Shell; Waller Lansden Dortch & Davis; Wolters Kluwer.” More analysis here.
- I heard these exact words at LegalWeek last week–so true: Blockchain Smart Contracts Aren’t Smart And Aren’t Contracts. Here’s the explanation by David B. Black.
- Also from LegalWeek (and Inspire.Legal), here’s Bob Ambrogi’s general take on both events: Legal Tech For The Legal Elite: Observations Of Two Conferences. “Conversations about innovation in legal technology and practice continue to be stuck in the same echo chamber.”
- According to CoinDesk, lawyers will be earning certificates in blockchain and cryptocurrency: Lawyers Rush In: New UNH Blockchain Program Nabs Big-Name Speakers. “(T)he program, which will feature of slew of industry players as guest lecturers – including Hester Peirce of the U.S. Securities and Exchange Commission, Ethereum Foundation researcher Vlad Zamfir and MyCrypto CEO Taylor Monahan.”
- Deloitte’s tech podcast, “Deloitte On Cloud” is almost always worth the time. “This week is all about
#cloudcomputing and #AI.” Link here.
- There’s more evidence of Deloitte’s tech chops here: Deloitte’s technology trends disrupting business. Post.
- And if you have energy clients, check this from Deloitte: “On this
#TechTuesday, explore 8 of the biggest #techtrends impacting the power & utilities industry in 2019. From #AI to #connectivity see what your organization should anticipate.”
- This is from Bloomberg Law: IBM Watson in Quiet Talks With Law Firms to Expand AI Offerings. Expect an announcement later this year covering US and UK firms. Hype?
- This, from The Law Society Gazette, Grania Langdon-Down: Training lawyers for tomorrow. It’s a very interesting and substantive article about the future of legal tech and women lawyers in the UK. “(L)aw firms and providers are looking at ways to improve diversity and meet new challenges concerning the role technology is playing in delivering legal services.”
- Law.com’s LegalSpeak podcast posted: Move Over Big Law. It’s Time for an ‘Alternative.’
- And check out this podcast from 3 Geeks and a Law Blog for Cat Moon’s thoughts on tech, innovation, teaching and a bit of poetry. Good stuff. (Cat’s part starts at about the 24-minute mark.)
- LawTechNews posted: Wilson Sonsini Launches Software Developer Subsidiary to Automate Legal Services.
- It has been a while since I’ve posted one of AI’s essential mantras, ‘it’s all about the data‘. So, here’s 57 Million Reasons To Get Your Organization’s Data In Order. This one‘s about compliance, but still….
Law Firm Posts:
- Kramer Levin: (Samantha Ettari, Arielle Warshall Katz): Artificial Intelligence in Financial Services: Tips for Risk Management. Post.
Foley & Lardner: (Alexis Finkelberg Bortniker, Christopher J. Donovan, Judith Waltz, Adria E. Warren): Health Care MarketTrends | January 2019, Issue 1. “Google’s new AI algorithm is said to detect cancer metastases with 92 percent accuracy. AI is still in its infancy, but is expected to impact overall cancer detection and cancer care delivery.”
- Taylor Wessing: The next instance? Artificial Intelligence meets litigation in the UK. Post.
- Ward and Smith: In-House Counsel Insights: What In-House Counsel Need to Know About Blockchain. Post.
From Artificial Lawyer:
- The Legal World Meets The Scientific Method at Inspire.Legal. Post.
- Intuitive Automation Platform Autto Seeks to Shake Up Market. Post.
- WSGR Lite? The Birth Of A New Tech-Led Business Model? Post.
- Can Legal Tech Help A2J? Find Out at This PSU Fundraiser Event. Post.
Press Releases and other Vendor Content:
- Synapse Technology Corporation’s Artificial Intelligence Security X-ray Platform Offers Risk and Liability Protection to Clients via DHS SAFETY Act Award. Post.
- On To The Next Wave Of Analytics: A Conversation With Nik Reed Of LexisNexis. “Context is the legal industry’s only case-law language analytics tool.” Post.
- AI Goes to Court: A Conversation With Lex Machina and Dorsey & Whitney (Part 2). Post.
- Sparqa Legal: Platform aims to give SMEs legal advice without lawyers. Post.
- Review: Analyzing Judicial Behavior Through Context on Lexis Advance. “In a product review for LTN, Sean La Roque-Doherty says reviewing judges’ rulings on motions and the outcomes of challenges to expert witness testimony in Context is like talking to a litigator steeped in practicing law before a judge.” Post.
- Lawyers Are Drowning in Data. What Can They Do About It? “The ‘Why Lawyers Are Adopting AI Faster Than You’ panel at this year’s Legalweek will examine at how firms can use AI to find the needle in some pretty big data haystacks.” Link.
- Harvard Law School Executive Education‘s David B. Wilkins and Maria Jose Esteban posted this summary: The Reemergence of the Big Four in Law. The full report is here.
- Alternative legal services providers come into their own as major players, says new report. “Released Tuesday, the Alternative Legal Service Providers 2019: Fast Growth, Expanding Use and Increasing Opportunity report from Thomson Reuters found that 87 percent of law firm respondents said they were using ALSPs, up from 56 percent in 2015. At corporations, 74 percent said they used an ALSP, up from 60 percent over the same time period.” Post here.
- Briefing: China looks to build ‘smart courts’ with AI. “A Shanghai court has adopted an artificial intelligence-enabled assistant to help improve courtroom efficiency and accuracy.” Post.
- This software thinks like a lawyer—so you don’t have to pay one. “A Chicago law firm (Actuate Law) is rolling out a subsidiary that offers clients software designed to mimic their lawyer’s thinking—at a fraction of the price.” “….(I)ntelligent software that walks them through whether they have a legal obligation to report a data breach.” “Although Quointec has no outside funding so far, the partners created the new venture to allow for such investment in the future without violating professional regulations.” Post.
- LawNext Episode 26: Mark Cohen’s Strategies for the Global Legal Marketplace. “On this (hour-long) episode of LawNext, Cohen joins host Bob Ambrogi to talk about a range of topics. They discuss Clearspire and the lessons Cohen learned from that. They also talk about what Cohen sees as the “skills gap” in law and why it is that law schools and law firms are failing to address it. In the fact of a rapidly changing global legal economy, Cohen offers insights on how law firms should adapt.” Post.
- From The Law Society Gazette: Accountants winning in ‘rapidly expanding’ alternative legal services market. “So-called alternative legal service providers – including the Big Four accountants – are growing more quickly than previously predicted and moving up the value chain, research on both sides of the Atlantic reveals today. The new entrants, offering such services as litigation support, legal research and document review with the help of new technology now make up a $10bn (£7.6bn) a year market, the Thomson Reuters study found.”
- Also from The Law Society Gazette: How legaltech can help you compete against larger firms. “Continuing the discussion on the evolution of the legaltech sector and how it could revolutionise the legal industry, Law Society partner and equity crowdfunding platform Seedrs explains how the rise of legaltech is closing the gap between large and small legal firms.” Post.
- I thought the 2019 forecasts were behind us, but here’s an interesting report from CBInsights: Artificial Intelligence Trends. Lots of infographics.
- This lawyer got a gig in Silicon Valley by promising to automate a lot of legal grunt work — now he’s got his own company. “Wouldn’t it be great if you could have associates who could code and automate their own jobs and would make the firm more efficient?” Post.
From Artificial Lawyer:
- New York Bulletin: Data is Not the New Oil + LSBs Are Splitsville. Story here.
- Pew: How Stanford + Suffolk Law Schools Are Improving NLP for A2J. Story here.
- TR: ALSP Market Now $10 Billion-Plus, Law Firms Major Customers. Story here.
- New York Bulletin – AI Workshop + Do We Need an FDA for Algorithms? Story here.
- Australia Launches ALTACon Legal Tech Conference. Story here.
- Legal AI – Its Definition and Its Value to the Legal World. Story here.
- Global Insurer Allianz Launches Injury Claim Automation Tool. Story here.
- ALM – Legal Market Will Split In Two + ALSPs Will Grow – NY Bulletin Extra. Story here.
Posts by Law Firms:
- Alston & Bird: … Teams Up with Georgia State University on Data Analytics. “Alston & Bird and Georgia State University have announced a joint effort to develop broad-based competency among the firm’s attorneys in leveraging data science and analytics to help drive new levels of client service and satisfaction.” Post.
- Andrea Perronace: Techniques for Patenting Blockchain in Europe, the United States, China and Japan. Post.
- Baker Donelson: 90-minute CLE video post: Analyzing the Impact of Artificial Intelligence in Legal. (5 ‘Micro-Presentations’.) Post. (Poor audio.)
- BakerHostetler: Robert A. Musiala Jr.: New Blockchain Capital Markets Platforms Announced With Institutional Investment. Post.
- BakerHostetler: Emily R. Fedeles: 2018 Cryptocurrency Recap, Developments In Cryptocurrency Exchanges And Payment Providers. Post.
- BakerHostetler: Jonathan D. Blattmachr: Are Crypto Regulations Getting Tighter Or Looser? Depends About Where You’re Asking. Post.
- BakerHostetler: Brian P Bartish: The Curious Case Of Cryptopia, And Updates On Threats And Enforcement Actions. Post.
- Baker McKenzie: The Year Ahead – Innovation: A new generation of legal analysis tools is emerging. Post.
- Dentons: Chloe A. Snider: Smart Contract Series – Legal Implications For Consideration, Part 1: Definition And Enforceability. Post.
- Foley & Lardner: David A. Rood: China Using Revised Subsidies To Dominate Future Global EV Production. Post.
- Foley & Lardner: Chanley Howell and Thomas E. Chisena: What We Know Now – Navigating Connected Cars And Cybersecurity In 2019. Post.
- Foley & Lardner: Chethan K. Srinivasa: Intellectual Property Considerations For Autonomous Vehicle Technology Startups And Automotive Suppliers. Post.
- Holland & Knight: David P. Sofge: If You Enjoyed The GDPR, You’ll Love Brussels’ New AI Guidelines. Post.
- Hunton Andrews Kurth: CIPL Submits Comments to ICDPPC Declaration on Ethics and Data Protection in AI. Post.
- Shearman & Sterling: Robert LaRussa, Lisa Raisner, George A. Casey and Scott Petepiece: CFIUS Update: Regulations Require Mandatory Filings For Certain Critical Technologies; Process Of Identifying Emerging Technologies Begins. Post.
- Skadden: Alexander C. Drylewski, Eytan J. Fisch, Stuart D. Levi, Jonathan Marcus and Eve-Christie Vermynck: As Interest In Blockchain Technology Grows, So Do Attempts At Guidance And Regulation. Post.
- Squire Patton Boggs: Stephanie Faber and Véronique Collin: France’s New Investment Control In The Cybersecurity And Technology Sectors. Post.
- Squire Patton Boggs: Will Saunders: The Biggest Workplace Issue In 2019 Will Be Getting People With The Right Skills, Says Recent Poll. Post.
Press Releases, Posts and Articles by Vendors:
- Clio releases new client management platform to ‘help lawyers ensure the future success of their business’. Post.
- Allianz to use Artificial Intelligence to deliver a true end-to-end automated solution for Stage 3 injury claims. Post. — and — “Allianz Insurance has launched a new digital platform that uses artificial intelligence (AI) to enable its injury claims handlers to process Ministry of Justice Stage 3 claims at a single click of a button.” Story here.
- Thomson Reuters: Introducing Litigation Analytics. “Unlock data-driven insights on judges, courts, attorneys, law firms, and case types to better develop case strategy and manage client expectations.” Post.
- Relativity Brings Reduced Data Fees, Unlimited Analytics, and a More Flexible Licensing Model to RelativityOne Customers. Post.
- Emerging from Harvard Law/MIT, Evisort AI Tech Company Posted Tremendous Growth in 2018, Announces Upcoming New Product Launch. Post.
- Here’s a very interesting article from Oxford’s Internet Institute and Faculty of Law. It’s more than six months old, but I just found it. Artificial Intelligence Crime: An Interdisciplinary Analysis of Foreseeable Threats and Solutions. “Artificial Intelligence (AI) research and regulation seek to balance the benefits of innovation against any potential harms and disruption. However, one unintended consequence of the recent surge in AI research is the potential re-orientation of AI technologies to facilitate criminal acts, which we term AI-Crime (AIC).”
- Baker McKenzie helped score a crucial win for Volt Bank, which has become the first Australian neobank to be granted a full banking license. “This is likely to drive materially improved banking services and further fintech innovation. It unlocks access to state-of-the-art software in the context of AI and data analytics in the banking space….” Story here.
- AI patents: Who Profits From AI? It’s Getting Harder to Find Out. “The U.S. Patent and Trademark Office is making it increasingly difficult to obtain legal protections for inventions related to AI, a field that encompasses autonomous cars, virtual assistants and financial analyses, among countless other uses. The agency, seeing an influx of AI applications, is grappling with how to comply with a law that PTO Director Andrei Iancu has called ‘anything but clear’.” Story here.
- This, from Bloomberg: Artificial Intelligence Creeps Into Big Law, Endangers Some Jobs. “Major law firms are preparing to incorporate AI at a speedier pace than ever before in 2019, as the anticipated industrialization of legal services picks up steam. Client pressures have been mounting on law firms—often slow technology adopters—to address concerns that old tech is keeping bills unnecessarily high. Clients are demanding that firms use AI-infused tools to speed work, lower costs, and provide better information.”
- MyCase’s Nicole Black posted: I, For One, Welcome Our New Robot Lawyer Overlords. “Ready or not, the robot lawyers are coming. Or not. It really depends on who you ask.”
- Here’s an innovative ALSP idea: What Happens When Legal Tech Meets Blockchain. “The result was a creation of an online platform that provides entrepreneurs with an access to a global network of ‘Legal Nodes‘– competent tech-savvy legal experts worldwide, from which businesses can “mine” relevant information to ease their journey through complex data sets of law, just like one would normally mine Bitcoin by connecting to thousands of nodes worldwide.”
From Artificial Lawyer:
- Kerrrrching..! DISCO Bags $83m Investment – Now Has $125m in Total – A World Record. Post here.
- The Global Legal Hackathon Is One Month Away – Get Your Teams Ready! Post here.
- Insurer ARAG Links With LawDroid In Legal Bot Project World First. Post here.
Law Firm Posts:
- From Tim Watkins of Coffin Mew: Will AI replace lawyers? Assessing the potential of artificial intelligence in legal services. “To suggest that this symbolises the imminent end of human lawyers is perhaps leaping to a hasty conclusion. But it does raise a number of interesting questions. Are lawyers – or indeed any professional advisers and service providers – ultimately replaceable? And if so, how, where, and to what extent?” Post here.
- Christopher R. Boll of Foley & Lardner posted: The Driverless Future Isn’t Disrupting Industries And Jobs… Yet.
- This post is from Skadden’s John Adebiyi Pascal Bine Matthias Horbach Dmitri V. Kovalenko Jason Hewitt and Mikhail Koulikov: Foreign Investment Control Reforms in Europe. “Key sectors that will be subject to the framework are: critical infrastructure, critical technologies (e.g., artificial intelligence (AI), robotics, semiconductors, dual-use, cybersecurity, space, nuclear), critical inputs, sensitive information, media, land and real estate, water supply infrastructure, data processing and electoral infrastructure.”
Press Releases and Sponsored Content:
- ContractPodAi launches Salesforce App as it continues its push outside the legal function. Release here.
- Building a Brilliant Brief Library: Your How-To Guide. “In this article, we’ll cover the basics of building your own brief library, from tips on finding the best available documents to developing winning strategies to stay one step ahead of opposing counsel in litigation.” This piece is by Josh Blandi of UniCourt.
- Tikit Carpe Diem introduces Intelligent Time. “(Which) interprets free form text and / or dictated notes and converts it (using Natural Language Processing), into structured and fully validated time entries. It turns unstructured data into structured data by converting attorney’s thoughts into fully formed time records.” Release here.
- Litigation In The Age Of Big Data: How Everlaw Is Tackling The Most Complex Technical Issues In eDiscovery. “As technology continues to evolve at a rapid pace, lawyers and eDiscovery professionals are seeing their workloads and challenges expand.” Post here.