AI for Legal Departments
A white paper by Wolters Kluwer and Della
Understanding AI for legal departments
This white paper was written in collaboration with our partner Wolters Kluwer
Artificial intelligence (AI) has generated a lot of buzz in recent years. It is often accompanied with wild promises of transforming the legal industry, and understandably, in-house legal professionals have been hesitant to adopt it.
According to Wolters Kluwer’s 2020 Future Ready Lawyer Survey, 58% of legal departments expect AI to affect their organisation over the next three years. Despite this, only 23% say that they understand it very well.
As legal departments are increasing their adoption of technology to improve efficiency, it is natural to ask “how can AI help me?” It’s worth remembering that teaching a machine to perform routine tasks – like data extraction, contract review or analytics reporting – is not only attractive, but entirely possible.
That said, AI is not a magic wand, nor does it replace the vital role of lawyers. The law remains complex and contracts are becoming increasingly more complex over time. This makes it more difficult to teach a machine as subtleties can be missed and the law keeps updating. The key is to adopting AI technology to focus your objective. You should aim to use AI to automate your manual processes to become more productive, not to adopt AI simply for the sake of it.
Download this white paper to learn:
- To examine what AI is and what it is not
- How AI capabilities can be leveraged effectively with real success stories
- Where AI fits in your company and legal department’s legal technology roadmap
Armed with these new insights, AI will no longer be an unattainable dream but a realistic reality. Learn how easy it can be to implement this innovative technology within your legal department, when you are ready, to drive efficiency and reduce costs.
Use cases for legal departments
Cost efficiency pressure
Della’s accelerates contract review for legal departments which relieves time pressures and increases efficiency
Regulatory risk
Della helps legal departments stay up to date with regulatory changes with ease
Multijurisdiction deals
Della’s translation capabilities and collaborative checklists reduces the need to outsource to foreign and/or external counsel
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