AI for Lawyers: How AI is the New Legal Tech Revolution for Law Firms with Dimple Dang

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Welcome to the mesmerizing marketing

podcast, where we take a deep dive

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into the latest marketing trends,

tools, and tips, and provide you with

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the top resources you need to thrive

and make your marketing mesmerizing.

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And now here's your host Dimple Dang.

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Welcome back, my

mesmerizing marketing tribe.

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And I am excited.

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I just recently got back from

Pliocon conference that was

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held in Nashville, Tennessee.

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And I tell you, it was my first

time going to Nashville, but I tell

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you, it was actually kind of fun.

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I got there a little bit earlier,

so on Sunday I was able to walk

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around and check out some places

and listen to some country music.

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But today, I'm excited to actually

talk to you guys about harnessing

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AI for your law firm, and how it

can really help you propel your law

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firm to new heights and excellence.

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And I was actually surprised that at the

Clio con conference, A lot of the topics

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and the sessions were about AI, and

they really put a big emphasis on how AI

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is going to impact the legal industry.

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Of course, I know this all along because

I am not only a legal marketing expert,

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but I'm also an AI strategist, and I have

been really diving myself deep into AI.

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Mastering chat GPT, mastering the latest

tools, and really more from a strategic

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perspective of what tools do you

actually need to use to accomplish what?

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Because you, if you just get

a tool, right, anyone can go

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get tools, they're everywhere.

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But that doesn't mean that it's going to

work for you because what's really going

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to work for you is having a strategy.

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So you need a strategy that's going to

help you accomplish your goals, right?

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So anyway, going back to Clio Con,

they really put a big emphasis on AI.

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They even had a workshop where they

were showing lawyers how to use AI.

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I couldn't attend that one because there's

another session on AI, and I could only

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be in one place at the same time, right?

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But one thing that I found

really interesting is they

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showed a slide and on the slide.

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So they said the legal industry

out of all the industries out

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there is the number two industry

that's going to be impacted by AI.

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And I was actually pleasantly surprised

because yes, I knew that lawyers are

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going to be using AI, but I didn't

know that they're actually really.

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Somewhat open to it because you know as

we know lawyers sometimes can be a little

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critical of things But not this bunch

that was there and by the way at Cleo

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con there were probably about over 3, 500

people there lawyers and legal industry

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professionals And I'm just gonna say

if you haven't been there and you're an

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attorney or you're in the legal industry

or legal tech that's a place that you

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want to be next year because I tell

you I It was a great, great experience.

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All right.

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So let's dive in right now.

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If you want to remain competitive, right.

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And relevant.

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You really have to be tech savvy.

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You have to be innovative as a law firm.

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And there were some lawyers there

who, you know, were recognized

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for their work in the legal

industry of growing their practice.

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And one of the things that I saw

was a common theme is that they

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all shared and talked about.

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How they want to be innovative.

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They want to make sure that they are using

the latest technology, the latest tools,

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and just learning how they can just, you

know, be the forefront and be the first

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ones to do something new and cutting edge.

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And with AI opportunity lies

in that like right away.

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But here's the thing too.

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If you are pushing AI on the

back burner, because we know that

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as lawyers, you guys are busy.

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I would suggest that you make some time

for it, at least to educate yourself on

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some of the things that are out there.

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How do they work?

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What are some of the legal ramifications?

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All these things, because AI is not a fad.

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It is not a trend.

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AI is here to stay.

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It is not going anywhere.

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And that, I can just

tell you, is a F A C T.

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Because there's a lot of trends that

come and go, AI is here to stay.

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And...

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Law firms who adopt AI and start using

it, they're going to be the ones that

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are actually going to, you know, be super

successful and come out ahead because

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with AI, it saves you time, it saves you

money, it helps you be more productive, it

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helps you save hours and hours of research

that it may take you to look through

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legal contracts and documents to find

the pertinent information that you need.

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So, the key is...

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You don't have to know everything you

just have to like find someone who can

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help you Right, and if you are listening

to this podcast right now, I'm that

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person if you need help with Implementing

an AI strategy into your law firm.

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I'm your girl.

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So make sure you reach out to

me My information is in the show

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notes Are you can go to my website,

attorney, marketing expert.

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com and reach out to me there as well.

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Now let's talk about AI and some

of the things that I think you're

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going to find interesting, right?

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So when you think about AI

applications in law, right?

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There's a lot of things that lawyers have

to do on a day to day basis, or even their

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paralegals, but there's things like legal

research, document review, predictive

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analysis, Of course, client interaction,

and even precision and billing.

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And those are a lot of things and

a lot of hats that a law firm has

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to juggle, that a lawyer has to

juggle, that their support staff and

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other lawyers have to also juggle.

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So when it comes to legal research,

right, the traditional method has been

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manually searching through documents

and databases, which literally

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can take hours and hours to do.

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But now, instead of doing all of that

manually, there is an AI tool and solution

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and platform called ROS Intelligence,

that's R O S S Intelligence, and you

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can use ROS Intelligence because what

it does is it uses algorithms and

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NLP for efficient legal research.

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Okay, so that is one

that you can check out.

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I will link all of these

in the show notes as well.

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Now let's talk about document review.

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So for a document review, the traditional

method has been doing a manual

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examination of all the documents, right?

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But that no longer has

to be done manually.

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There are AI solutions like

Kira, that's K I R A, and another

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one called ThoughtRiver, and

another one called Luminance.

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And what these AI tools do is

they use machine learning to

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identify key details quickly.

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And this helps you with your

document review process.

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Next, let's go to the next thing,

which is predictive analysis.

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So traditionally, the method for

predictive analysis has been to

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rely on personal experience, right?

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But now, the AI solution, there's a

platform called Lex Machina, that's L

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E X and then Machina, M A C H I N A,

that provides data driven forecasting.

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So, you can use Lex Machina

for your predictive analysis.

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And that's going to be one more

thing that you can save time on.

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All right, let's go to the next thing.

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We're going to talk about something

that's very common in the legal

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niche, which is document drafting.

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So with document drafting, the

traditional method has always been

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to make manual revisions, and that

can take, you know, a long time.

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And sometimes if it's a very

complex document, that can

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take hours or even days.

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So the AI solution for that is do not

pay and it crafts legal documents based

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on the user input that you do, but do

not pay actually does so many other

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things too that I'm going to have to

probably do another podcast episode on

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these tools to dive in deeply to all the

features and functionality that they have.

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But before I do that episode, I

wanted to give you guys a little.

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So I'm going to show you how to you

can wrap your head around all the

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things that AI can do, how lawyers

can use it, and then, of course,

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there is client interaction, right?

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So the traditional method has

been manually scheduling things

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with clients and interactions

and communications, right?

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But now, with AI driven chatbots, you can

manage client queries and appointments.

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And, in fact, You can have custom

chatbots created for you for your website

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that can engage and act in a way that

Really takes a lot of the work off of

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your team and yourself when it comes to

answering Questions that are commonly

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asked because you can train this chatbot

to respond in a particular way Based on

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the user inputs that it's getting right

so that's really important too and now

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the next one we're going to go to is a

Billing and not just billing, but we're

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talking about precision in billing and

the traditional method has always been

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Like a human process that it can actually

lead to potential errors and on the

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end of your clients, you know Thinking

have they been over billed or not?

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Or maybe you under build them and you

left money on the table either way It's

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a lose lose situation for either party.

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So then the AI solution is Is Clio.

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So Clio again is the one that I told

you had the conference in Nashville.

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They're having another conference already.

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Tickets are on sale for next year,

but Clio has an automated billing

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process with enhanced precision.

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And one of the things that they

actually talked about at the Clio

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con conference this year is that.

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One of the issues that a lot of law firms

and lawyers have is that they're not

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getting paid on their billing because one,

they're not billing in a timely manner.

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So one of the tips that they said

is like, if you want to get paid

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on your invoices, you want to build

that client when they're happy.

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When they've, they're like, actually

like, Oh, you did a good job for me.

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That's the time to send them that

invoice because it's top of mind.

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Do not wait three months.

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Do not wait two weeks.

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Do not wait, you know, six months

later, because by then they've

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forgotten about how happy they were

because now they're dealing with

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another problem and they're not happy.

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And maybe now they don't have the funds.

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You know readily available to pay you

as maybe they did before because before

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they were allocating for it, right?

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So I think it's really important to be

timely when you are billing your clients

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And also if you are old school, and I

hope nobody that's listening to this

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podcast is this old school but if you're

sending out your invoices and bills in

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the mail No, no, no, no, no, no, no,

that is a big no, no, you definitely

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need to come to me because we cannot

be doing that in: 2023

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Now, I'm going to sum it up.

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So all the things that I just

talked about right now, these

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are just some of the things.

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These are just some of the most day to

day tasks that lawyers and law firms

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have to do on a daily basis, right?

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And this is where they

can apply AI into these.

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And these are all things in

which they can utilize AI.

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To actually be more productive,

to save more time, to be more

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organized and efficient, right?

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So again, to recap, legal research,

document review, predictive analysis,

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document drafting, and client

interaction, and precision in billing.

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Now, I also want to talk to you guys

about some real life examples and case

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studies of how AI is already being

successfully integrated by some law

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firms and how people are using it.

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So let's talk about a few case studies.

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The first one I'm going to

talk about is JP Morgan.

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So what they're doing is bulk

contract review at JP Morgan.

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So they have an AI powered program

called COIN, C O I N, and this

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has been employed since June 2017.

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to interpret commercial loan agreements.

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And this is work that previously took,

let's say, 360, 000 lawyer hours,

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and now it can be done in seconds.

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So, J.

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P.

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Morgan plans to use this technology for

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