- From Jim Baker via Lawfare: Artificial Intelligence – A Counterintelligence Perspective: Part I. “…AI and the entire technological ecosystem in which it functions are highly valuable to private-sector organizations and nation-states. That means that nations will try to identify, steal, and corrupt or otherwise counteract the AI and related assets of others, and will use AI against each other in pursuit of their own national interests. And that presents the United States and its allies with a classic counterintelligence problem in a novel and high-stakes context….” This is a deep dive.
- Lex Machina‘s Josh Becker prepared this look at the “…three primary categories of legal analytics that relate to legal workflows: litigation, regulatory compliance and transactions.”
- To find out how AI is being used in the deal process and how proficient dealmakers need to be in order to successfully implement and evaluate the technology, Mergermarket asked three law firm partners, a professor at the Kellogg School of Management and a vendor, “What other kinds of machine learning or artificial intelligence applications are there to assist in the dealmaking process at present? What sorts of tools can you envision being created in the future?” Here’s what they said.
- Lexology posted this blog post reporting what a few law firms are doing with AI and the benefits/impact they expect.
- Press release: “CPA Global®, the Intellectual Property (IP) services and technology market leader, today announces the acquisition of Filing Analytics and Citation Eagle, two leading IP data and analytics software solutions, from Practice Insight, a wholly owned subsidiary of IPH Ltd.”
- Here’s an interesting spin on the idea of a Smart Contract from William S. Veatch, a partner at Reed Smith, a “Data Contract.” “The essence of the Data Contract is that the terms of the contract are stored in a database at both the Clause Level and the Idea Level.”
And in this post, Artificial Lawyer interviews Reed Smith’s Bryon Bratcher to explore the firm’s tech strategy, including products they are offering to other law firms.
- More about Smart Contracts. Artificial Lawyer reports that “Smart contract company, Clause, has partnered with a leading NFC (near field communication) company to link it to its own self-executing legal contracting technology. The move is in line with some of the earliest work of Clause, which related to picking up signals from the environment that could trigger elements of a smart contract.” Much more here.
- Rob Galaski, Deloitte Global Banking & Capital Marketing Consulting leader, recently said: “AI is rapidly reshaping the attributes necessary to build a successful business in financial services. As AI drives operational efficiency, economies of scale alone will not sustain cost advantages. In the future, financial institutions will be built on scale of data and the ability to leverage that data. Increasingly bifurcated markets are already emerging where data sharing is critical to competitive success and first movers are positioned to distinguish themselves by delivering better advice, constant presence, and curated ecosystems. Firms that lag behind are finding that their old strengths may not keep them as competitive as they once were.” This seems to me completely relevant to law firms and their clients.
- I have posted about the US’ tightening of controls around tech exports including AI. This post from MoFo reports that EU members are doing the same.
- From Artificial Lawyer: LawDroid, has launched a new voice-activated functionality in a joint venture with US attorney Patrick Palace, that is designed to integrate exclusively with Clio’s practice management software. The new system will offer lawyers the ability to use voice commands to:
- Dictate notes, schedule appointments, and create tasks
- Have LawDroid Voice read out to you your schedule for the day
- Populate data into Clio to eliminate data entry duplication.
- Is AI The Great Equalizer For Small Law? According to this post in Above the Law from Casetext’s Jake Heller, “yes”. “…(T)he 85 percent of lawyers at smaller law firms have been adopting, using, and thriving on artificial intelligence technologies. And they have been using AI to level the playing field, diminishing or eliminating what were once the resource and staffing advantages at the bigger law firms.” It’s an interesting argument.
- Holland & Knight posted: FTC Announces Plans to Hold Roundtables on Consumer Protection and Competition Issues – Privacy, Data Security, Big Data and the Use of Artificial Intelligence Figure Prominently. “The FTC designated a total of 11 topic areas it will focus on and included a series of questions that it would like the public to comment on and participate in. Consumer privacy issues along with data security, the use of Big Data, artificial intelligence (AI) and predictive analytics figure prominently in the list of main topics the FTC has indicated it will review and analyze….”
- Access to Justice: Artificial Lawyer reports that: German expert system, Ryter, is to build consumer-facing legal applications in a partnership with the Humboldt Consumer Law Clinic (HCLC) at the Humboldt University of Berlin. … The project will have a double benefit, in that students will get to know how to use an expert system such as Ryter, while also creating outward-facing applications that may be of use to consumers with legal needs and access to justice challenges.” More here.
- From Baker Hostetler‘s Robert A. Musiala Jr., Simone O. Otenaike, Njeri S. Chasseau and Brian Bartish: Blockchain Continues to Disrupt Banking, Capital Markets, Enterprise…and Crime. This is a pretty comprehensive post.
- In this sponsored post, Steptoe & Johnson PLLC’s Dan Nossa and Kristian White explain: How blockchain technology could alter the real estate business.