Darin Sands was quoted in an August 30 Puget Sound Business Journal article titled "Lawyers and Tech Are 'Oxymoronical' — But That is Changing." The article explains that while the legal industry has historically been slow to adopt new technologies, that is changing.
The legal industry has generally been behind the rest of the economy when it comes to technology, but that started to change after the 2008 recession, Lane Powell Innovation Chairman Darin Sands said. After the economy crashed, large corporations were forced to reduce legal spending and to begin to run legal departments like other business units of the company, demanding more efficiency.
Getting the legal industry up to speed on technology, Sands – the Lane Powell innovation chairman – said, will take results. Lane Powell has seen them in the form of saving time and money, he said.
Take discovery, for example. In the course of a lawsuit, both sides have to share and review documents that can sometimes reach more than 1 million pages. The process costs clients millions of dollars because human reviewers have to read every document before it goes out the door.
Now Lane Powell is using predictive analytics, a type of artificial intelligence, to cut down on that time. Essentially, humans might review about 1,000 to 2,000 pages of documents while training the computer to tag what they’re looking for.
Lane Powell has been using predictive analytics for large- and medium-sized cases. Projects that used to cost clients $3 million have been reduced to 20 percent of that.
“That’s when people start buying into actual technology,” Sands said, “when it speeds the pace of a case and saves tons of money.”
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