- Read this. HT to Michael O’Horo for the link to this HBR article by Michael Porter and James E. Heppelmann. Augmented reality is an important innovation that will have (and is having) major impact on many industries. I wouldn’t rate its importance as comparable to AI, nanotechnology, Blockchain or genetic engineering, but it’s important. Now back to AI.
- Technology and talent retention have been identified as two of the main challenges facing law firms, according to research from professional services firm Smith & Williamson – findings which are backed up by new Law Society data that suggests the profession could lose up to 20% of jobs as a result of new technology. Law firms’ favorite approach to any business challenge (“wait and see what happens”) probably isn’t the optimal way to deal with these challenges.
- OCBC’s chatbot ‘Emma‘ (available on desktops, laptops and smart mobile devices) has helped customers sign S$70m in home loans.
- Earlier this year, AI-driven CRM leader Salesforce introduced its Einstein AI technology. Now it’s adding more high tech capabilities through a new product called myEinstein. I would take a hard look at Salesforce before implementing any new CRM. (More details here.)
- I’ve been urging law firms to launch AI “industry teams” for a while now. Here, the vice-chairman of Nasdaq lends credibility to the idea.
- And here are a couple of law firms already practicing in the AI space:
Foley Hoag has represented Body Labs in its acquisition by Amazon. Body Labs “offers artificial intelligence that uses body data and computer vision to scan 3D human motion and shape.”
Jackson Walker’s Chris Rourk comments on “Patent Eligibility in Asia IP.”
Bryan Cave’s Denver associate Ivan London will present Nov. 15 on artificial intelligence in legal services in their Denver office.
And I’ll wager some law firms have been involved in this: “Big Data and Artificial Intelligence Deals in the Energy Sector Are Up Tenfold in 2017.”
- This press release may set a new benchmark for the most jargon per sentence, but here’s the deal: IPsoft (remember the bot “Amelia?”) has launched a platform called, 1Desk™ which “will draw on a digital labor pool of cognitive agents, virtual engineers and virtual administrators to automate entire end-to-end processes, from HR and IT, to Finance and Administration.” If you’re thinking of using AI to automate processes/workflows, it’s is probably worth a look.
- In previous posts I’ve mentioned that one of the necessary steps in reaching The Singularity is AI creating/programming more AI without human intervention. Some of the major AI players are making progress in that direction. More here.
- More than a hundred experts in artificial intelligence have signed an open letter calling on Australian Prime Minister Malcolm Turnbull to push for a worldwide ban on autonomous lethal weapons. Nice idea, but once one country (or bad actor) goes there, everyone will be forced to follow.