A written check

For many companies, legal fees from external lawyers can be difficult to track and manage—it can be time consuming and messy to do a line-by-line invoice review—and lawyers can be expensive. One company saw an opportunity to use AI to help businesses track and save on law expenses. After lawyers submit their invoices through this company’s software, artificial intelligence steps in to review them and see if lawyers may have billed for the wrong line items (per billing agreements), and then it flags those line items for human review.
Over time, another AI element of the software also tracks how much different law firms bill you for similar work tasks, helping you identify which firm to chose for certain tasks and even negotiate for better pricing.

What are the implications? This reduces mundane accounting tasks, and it helps reduce lawyer fees.

Photo Found Here: https://www.pexels.com/photo/black-and-white-check-cheque-close-up-259226/

Glasses and computer on a deak

In another life, I reviewed nondisclosure agreements (NDAs) and contracts to ensure the company I worked for knew what it was agreeing to. Back then, this AI-powered NDA review tool would have been a welcomed help. When pitted against 20 able lawyers, this AI had a 94 percent accuracy rate at identifying and labelling different desired elements in NDAs, and the lawyers were accurate on average 85 percent of the time. The decided advantage in this AI’s favor, though, is that it took 26 seconds to complete the task while it took the lawyers between 51 minutes to 2.5 hours.

What are the implications? This tool will augment the lives of lawyers and business workers, saving them time, reducing their job boredom, and allowing them to focus on other urgent tasks.

Photo by rawpixel.com on Unsplash

Sometimes, it’s hard to say what makes you think someone is lying to you. Was it a slight flick of the eyelid, an almost imperceptible tremor of the lip, an ever-so-slight flush of the face? But when there’s more at stake than the result of a little white lie—like the wrong person begin convicted of a crime—you have to rely on more than a perception. Upping the lie-detecting ante, a research group tested a computer vision application on videos of truth-tellers and liars on the stand in the courtroom to see how well it could tell when a person was or wasn’t lying, and it was accurate nearly 90 percent of the time—beating humans significantly at the task, though, it’s probably important to mention that the video was tested on actors.

Photo Found Here: https://pixabay.com/en/courtroom-benches-seats-law-898931/

Patent approval can be a drawn-out process, particularly if your patent gets denied. When that happens, there’s a very long, very expensive process ahead for appeals. But if you could predict the likelihood of examiners’ reversal decisions or likelihood overturn of rejections, it could make the process so much easier. This AI tool essentially predicts when you should give up the fight, when you should appeal beyond your examiner, and what arguments you should use if you continue the fight.

Photo Found Here:https://pixabay.com/en/gavel-statue-pool-at-2771088/