Now Legal Experts Can Take Help of Technology to Make Their Work Easy
In a race with other nations, it is time for the Indian legal system to harness technology to improve the speed and efficiency of daily tasks.
The Indian legal system is one of the oldest in the world, but filing a lawsuit here is a tedious task, involving a lot of time and oodles of money. Lawyers spend hours together doing the donkey work of shuffling legal documents pertaining to cases they are handling.
Also, with time lawyers have to keep updating themselves, committing to memory even the basic amendments to existing laws verbatim.
But, it is impossible for even very sharp memories to remember thousands of Acts and Sections. Our legal system is lagging behind that of other countries and it needs to undergo certain changes to take some burden off lawyers' shoulders.
In a race with other nations, it is time for the Indian legal system to harness technology to improve the speed and efficiency of daily tasks. Technology has impacted nearly each and every aspect of our daily lives.
With companies turning to Artificial Intelligence and Robotics, it's time for the legal sector to respond to technological innovations and move forward.
Take a look at companies that are integrating technology into their legal system:
Loom Analytics is a data-driven legal research assistant that finds, classifies and sorts law cases, making the process of research smarter, faster and more robust than before. Using a combination of legal analysis and machine learning, Loom Analytics provides hard numbers on law cases — win/loss rates, judge ruling histories, litigation trends over time and much more.
Founded by Toronto-based Mona Datt, Loom was first conceived as an idea in January 2015 after a lawyer approached her about automating some of the repetitive case-precedent research work that took up so much of his day. With a small team of lawyers, engineers and legal analysts, Mona studied the problem for months. After numerous, long brainstorming sessions, they arrived at a workable solution and began developing the idea.Loom has a 30-day free trial, after the end of which it costs user $49 per month.
Mike is Asia's first AI-based legal associate that helps lawyers get legal research done. With Mike, lawyers can cut down on the research time from hours to minutes, thereby increasing their profits.
Founded in November 2016 by three Delhi-based men Anshul Gupta, Ankit Yadav and Tushar Bhargava, the AI lawyer has access to the largest repository of legal documents that it analyzes to give the most relevant and updated research for the case.
It is also updated on all the recent laws and gives its opinion and research recommendation based on that. Mike at present comes with a 30-day free trial version, after which it costs around INR5,000 per month.
Mumbai-based law firm Cyril Amarchand Mangaldas has signed an agreement this year with Canada-based technology company Kira Systems, a leading, machine-learning software provider.
Kira is software that uses Artificial Intelligence to identify, analyze and extract clauses and other information from contracts and other types of legal documents. It includes integrated Machine Learning models for a range of transaction requirements, across the firm's practice areas. The tool can also identify different clauses from a large volume of legal contracts with a high degree of accuracy.