• Mergers & Acquisitions. As previously reported here, several major law firms are using Luminance AI-powered tools in their M&A deals. Now, “(d)ue diligence artificial intelligence software provider Luminance and data collaboration platform HighQ, both London-based companies, recently announced a product integration that will allow users to pipeline data from HighQ into Luminance for processing.” Details here.

 

  • If you’re wondering whether to get on board with such technologies, here’s a very basic explanation by Ken Grady of why your firm should be using AI in its M&A work.

 

  • This article supports my position that one should not start your firm’s AI discussion by looking for a way to start using AI. Rather, one should take a look at the firm’s Strategic Plan or Marketing Plan, and consider AI’s various manifestations as possible aids in accomplishing your objectives. Start with the need, then search for the right tools.

And I’ll use that article to reinforce another of my favorite themes, “it’s all about the data.”

“(Data) isn’t valuable for AI if it is not formatted and prepared correctly. Several attendees stressed the need for “data refineries” to clean that data.” “If your data is not cleansed, you cannot use AI.”

 

  • Here’s an outsider’s brief take on how AI may impact the legal profession.

 

  • Yesterday I reported that the US Senate will begin hearings about AI this fall. So will the UK’s Parliament.

 

  • Speaking of governments, this from Veritone: “Veritone Government solutions represent the fastest and most effective way for public-sector organizations to leverage the power of AI, with services and applications specifically designed for government needs. With Veritone Government, agencies can achieve new levels of efficiency, improved public transparency, and unprecedented levels of collaboration and cooperation among each other and with private businesses.” This might be especially useful when receiving a huge data dump in response to a Freedom of Information Act request.

 

  • My Roomba is smarter than the latest AI! (Well, probably not. But at least it knows not to fall down stairs.)

 

  • Here are the results of an interesting survey and forecast re AI by Transparency Market Research (TMR). Among the highlights:

(T)he global market for artificial intelligence is estimated to post an impressive 36.1% CAGR between 2016 and 2024, rising to a valuation of US$3,061.35 bn by the end of 2024 from US$126.14 bn in 2015.

North America was the major revenue contributor in 2015…. (T)he region is expected to retain its leadership through 2024.

On the other hand, the Middle East and Africa is anticipated to exhibit a remarkable CAGR of 38.2% during the forecast period, which is higher than any other region.

“Digital assistance” is estimated to be the most promising segment in terms of revenue during the review period. The proliferation of portable computing devices such as tablets and smartphones is the primary factor propelling the growth of the segment.

 

  • The Chinese Government seems to agree about the growth: In an opinion piece published Wednesday in the People’s Daily, the flagship newspaper of the Communist Party of China, an artificial intelligence (AI) specialist said “AI will have a huge influence on society and the international community.”

 

  • And as long as we’re talking about growth, this article about the potential impact of AI on the environment is very interesting at face value (mainly positive potential for AI, with some risks), but I also found interesting this graph showing “mentions of ‘artificial intelligence’ and related words in 10-K filings of S&P companies, from 2011 to 2016.” Quite an increase! (Seems there’s some corporate buzz about this AI stuff.)

 

  • The debate never ends as to whether AI will be a net creator or destroyer of jobs (untestable prognostication is so much fun!), and in which segments of the economy when. This editorial from the National Review puts a few interesting spins on that discussion.

 

  • Check out the headline from this story: “IBM revenue worse than expected as artificial intelligence fails to make up for slowdown in hardware and software.” Wow. How far have we come that IBM is now looking to AI to shore up poor performance from its traditional core businesses.

 

  • Check this out for High Performance Coach Darryl Cross’ take on AI. (AI on your team?) I’ll be discussing/debating the subject with Darryl on his podcast on July 27. Click here to sign up.

 

  • I’m not sure whether this is directly useful, but this list of AI tools available today for use by businesses is certainly impressive!

 

  • Is this the New The Face of Artificial Intelligence? Nothing of real substance here, but, on a Wednesday morning, I really enjoyed this writer’s snarky style.