Welcome to the mesmerizing marketing
podcast, where we take a deep dive
into the latest marketing trends,
tools, and tips, and provide you with
the top resources you need to thrive
and make your marketing mesmerizing.
And now here's your host Dimple Dang.
Welcome back, my
mesmerizing marketing tribe.
And I am excited.
I just recently got back from
Pliocon conference that was
held in Nashville, Tennessee.
And I tell you, it was my first
time going to Nashville, but I tell
you, it was actually kind of fun.
I got there a little bit earlier,
so on Sunday I was able to walk
around and check out some places
and listen to some country music.
But today, I'm excited to actually
talk to you guys about harnessing
AI for your law firm, and how it
can really help you propel your law
firm to new heights and excellence.
And I was actually surprised that at the
Clio con conference, A lot of the topics
and the sessions were about AI, and
they really put a big emphasis on how AI
is going to impact the legal industry.
Of course, I know this all along because
I am not only a legal marketing expert,
but I'm also an AI strategist, and I have
been really diving myself deep into AI.
Mastering chat GPT, mastering the latest
tools, and really more from a strategic
perspective of what tools do you
actually need to use to accomplish what?
Because you, if you just get
a tool, right, anyone can go
get tools, they're everywhere.
But that doesn't mean that it's going to
work for you because what's really going
to work for you is having a strategy.
So you need a strategy that's going to
help you accomplish your goals, right?
So anyway, going back to Clio Con,
they really put a big emphasis on AI.
They even had a workshop where they
were showing lawyers how to use AI.
I couldn't attend that one because there's
another session on AI, and I could only
be in one place at the same time, right?
But one thing that I found
really interesting is they
showed a slide and on the slide.
So they said the legal industry
out of all the industries out
there is the number two industry
that's going to be impacted by AI.
And I was actually pleasantly surprised
because yes, I knew that lawyers are
going to be using AI, but I didn't
know that they're actually really.
Somewhat open to it because you know as
we know lawyers sometimes can be a little
critical of things But not this bunch
that was there and by the way at Cleo
con there were probably about over 3, 500
people there lawyers and legal industry
professionals And I'm just gonna say
if you haven't been there and you're an
attorney or you're in the legal industry
or legal tech that's a place that you
want to be next year because I tell
you I It was a great, great experience.
So let's dive in right now.
If you want to remain competitive, right.
You really have to be tech savvy.
You have to be innovative as a law firm.
And there were some lawyers there
who, you know, were recognized
for their work in the legal
industry of growing their practice.
And one of the things that I saw
was a common theme is that they
all shared and talked about.
How they want to be innovative.
They want to make sure that they are using
the latest technology, the latest tools,
and just learning how they can just, you
know, be the forefront and be the first
ones to do something new and cutting edge.
And with AI opportunity lies
in that like right away.
But here's the thing too.
If you are pushing AI on the
back burner, because we know that
as lawyers, you guys are busy.
I would suggest that you make some time
for it, at least to educate yourself on
some of the things that are out there.
How do they work?
What are some of the legal ramifications?
All these things, because AI is not a fad.
It is not a trend.
AI is here to stay.
It is not going anywhere.
And that, I can just
tell you, is a F A C T.
Because there's a lot of trends that
come and go, AI is here to stay.
Law firms who adopt AI and start using
it, they're going to be the ones that
are actually going to, you know, be super
successful and come out ahead because
with AI, it saves you time, it saves you
money, it helps you be more productive, it
helps you save hours and hours of research
that it may take you to look through
legal contracts and documents to find
the pertinent information that you need.
So, the key is...
You don't have to know everything you
just have to like find someone who can
help you Right, and if you are listening
to this podcast right now, I'm that
person if you need help with Implementing
an AI strategy into your law firm.
I'm your girl.
So make sure you reach out to
me My information is in the show
notes Are you can go to my website,
attorney, marketing expert.
com and reach out to me there as well.
Now let's talk about AI and some
of the things that I think you're
going to find interesting, right?
So when you think about AI
applications in law, right?
There's a lot of things that lawyers have
to do on a day to day basis, or even their
paralegals, but there's things like legal
research, document review, predictive
analysis, Of course, client interaction,
and even precision and billing.
And those are a lot of things and
a lot of hats that a law firm has
to juggle, that a lawyer has to
juggle, that their support staff and
other lawyers have to also juggle.
So when it comes to legal research,
right, the traditional method has been
manually searching through documents
and databases, which literally
can take hours and hours to do.
But now, instead of doing all of that
manually, there is an AI tool and solution
and platform called ROS Intelligence,
that's R O S S Intelligence, and you
can use ROS Intelligence because what
it does is it uses algorithms and
NLP for efficient legal research.
Okay, so that is one
that you can check out.
I will link all of these
in the show notes as well.
Now let's talk about document review.
So for a document review, the traditional
method has been doing a manual
examination of all the documents, right?
But that no longer has
to be done manually.
There are AI solutions like
Kira, that's K I R A, and another
one called ThoughtRiver, and
another one called Luminance.
And what these AI tools do is
they use machine learning to
identify key details quickly.
And this helps you with your
document review process.
Next, let's go to the next thing,
which is predictive analysis.
So traditionally, the method for
predictive analysis has been to
rely on personal experience, right?
But now, the AI solution, there's a
platform called Lex Machina, that's L
E X and then Machina, M A C H I N A,
that provides data driven forecasting.
So, you can use Lex Machina
for your predictive analysis.
And that's going to be one more
thing that you can save time on.
All right, let's go to the next thing.
We're going to talk about something
that's very common in the legal
niche, which is document drafting.
So with document drafting, the
traditional method has always been
to make manual revisions, and that
can take, you know, a long time.
And sometimes if it's a very
complex document, that can
take hours or even days.
So the AI solution for that is do not
pay and it crafts legal documents based
on the user input that you do, but do
not pay actually does so many other
things too that I'm going to have to
probably do another podcast episode on
these tools to dive in deeply to all the
features and functionality that they have.
But before I do that episode, I
wanted to give you guys a little.
So I'm going to show you how to you
can wrap your head around all the
things that AI can do, how lawyers
can use it, and then, of course,
there is client interaction, right?
So the traditional method has
been manually scheduling things
with clients and interactions
and communications, right?
But now, with AI driven chatbots, you can
manage client queries and appointments.
And, in fact, You can have custom
chatbots created for you for your website
that can engage and act in a way that
Really takes a lot of the work off of
your team and yourself when it comes to
answering Questions that are commonly
asked because you can train this chatbot
to respond in a particular way Based on
the user inputs that it's getting right
so that's really important too and now
the next one we're going to go to is a
Billing and not just billing, but we're
talking about precision in billing and
the traditional method has always been
Like a human process that it can actually
lead to potential errors and on the
end of your clients, you know Thinking
have they been over billed or not?
Or maybe you under build them and you
left money on the table either way It's
a lose lose situation for either party.
So then the AI solution is Is Clio.
So Clio again is the one that I told
you had the conference in Nashville.
They're having another conference already.
Tickets are on sale for next year,
but Clio has an automated billing
process with enhanced precision.
And one of the things that they
actually talked about at the Clio
con conference this year is that.
One of the issues that a lot of law firms
and lawyers have is that they're not
getting paid on their billing because one,
they're not billing in a timely manner.
So one of the tips that they said
is like, if you want to get paid
on your invoices, you want to build
that client when they're happy.
When they've, they're like, actually
like, Oh, you did a good job for me.
That's the time to send them that
invoice because it's top of mind.
Do not wait three months.
Do not wait two weeks.
Do not wait, you know, six months
later, because by then they've
forgotten about how happy they were
because now they're dealing with
another problem and they're not happy.
And maybe now they don't have the funds.
You know readily available to pay you
as maybe they did before because before
they were allocating for it, right?
So I think it's really important to be
timely when you are billing your clients
And also if you are old school, and I
hope nobody that's listening to this
podcast is this old school but if you're
sending out your invoices and bills in
the mail No, no, no, no, no, no, no,
that is a big no, no, you definitely
need to come to me because we cannotbe doing that in:
Now, I'm going to sum it up.
So all the things that I just
talked about right now, these
are just some of the things.
These are just some of the most day to
day tasks that lawyers and law firms
have to do on a daily basis, right?
And this is where they
can apply AI into these.
And these are all things in
which they can utilize AI.
To actually be more productive,
to save more time, to be more
organized and efficient, right?
So again, to recap, legal research,
document review, predictive analysis,
document drafting, and client
interaction, and precision in billing.
Now, I also want to talk to you guys
about some real life examples and case
studies of how AI is already being
successfully integrated by some law
firms and how people are using it.
So let's talk about a few case studies.
The first one I'm going to
talk about is JP Morgan.
So what they're doing is bulk
contract review at JP Morgan.
So they have an AI powered program
called COIN, C O I N, and this
has been employed since June 2017.
to interpret commercial loan agreements.
And this is work that previously took,
let's say, 360, 000 lawyer hours,
and now it can be done in seconds.
Morgan plans to use this technology for
other type of legal documents as well.
So that's one case study in how AI
is being used in the legal realm.
Another case study is Contract Analysis
with Kira Systems and Law Geeks.
So, platforms like Cura Systems allow
lawyers to identify, extract, and
analyze business information that
is contained in large volumes of
contract data for M& A due diligence.
Also, LawGeeks, that's L A W
G E E X, it uses AI to analyze
contracts one at a time.
assisting lawyers in the daily workflow
by identifying particular clauses and
variations and helping them in the review
of standard agreements such as NDAs.
Then, another case study I want to
talk about is utilizing it for legal
research using Ross Intelligence.
So Ross Intelligence has been leveraging
IBM's Watson supercomputer, which
aids in legal research by finding
similar cases almost instantly
compared to traditional methods,
which could previously take hours.
Then, let's talk about predictive
analysis in litigation.
So, for that one, a London law
firm utilized data on outcomes
of 600 cases over 12 months to
create a model for assessing the
viability of personal injury cases.
And furthermore, AI trained on 200
years of Supreme Court records,
and this AI has shown proficiency
in predicting SCOTUS decisions.
outperforming many human experts.
What do you guys think of that?
I think that's something else.
All right, let's keep going.
So then let's talk about
what really what's like the
future forecast of AI, right?
When it comes to the legal industry.
So part of it has to do with
efficiency, cost reduction and accuracy.
So AI is anticipated to automate
routine tasks like document review.
Legal research, contract analysis,
and it's going to free up time for
legal professionals and lawyers
and paralegals to focus on more
strategic aspects of their work.
And that's going to, in turn,
lead to a reduced operational
cost, making legal services more
accessible and cost effective.
I like that.
How do you like those apples?
I think that's pretty amazing.
So, woohoo for that.
Then, it's also...
for legal professionals because AI
tools act as a valuable assistant, which
enables lawyers and law firms to perform
tasks more efficiently and effectively.
And that in turn is going to enhance
productivity and transform the way
legal work is performed, rendering it
to be more efficient and cost effective.
Now you can be more
efficient and cost effective.
That gives you more time back in your day.
And like I always say, time is money.
Now let's talk about ethical
and regulatory considerations.
So, you know, having AI integrated
into legal practices, it also brings
forward ethical and regulatory concerns,
particularly regarding data privacy,
bias in algorithms, and the potential
displacement of certain legal jobs.
So the legal industry will need to
carefully consider these issues when
they are integrating AI into their
practices, because that is very
important in the legal industry.
Now, let's talk about
adoption among law firms.
So a lot of law firms are
already beginning to utilize AI.
So firms like Latham and Watkins, Baker
and McKenzie and Slaughter and May,
they're already adopting AI systems.
So when you think about AI, it's actually
expected to disrupt traditional law firm
business models based on billable hours.
So, I hope you guys found
this episode useful.
And of course, there's other tools
that lawyers can be using as well.
There's like thousands
and thousands of AI tools.
These are just a few that
I've tapped on today.
But if you need help incorporating AI
into your law firm practice, reach out
to me and I would be happy to get on a
call with you and see how I can help you.
So you can go to the show notes and
you can send me a email or fill out
the form or you can directly go to
my website, attorneymarketingexpert.
com and get in touch with me there.
And I hope you guys enjoyed this episode.
And if you have other friends and
colleagues that are lawyers, share
this episode out with them so that
they can learn what's happening in
the world of AI when it pertains
to running their law firm practice.
And I will see you guys next time.
Let me know if there's any
particular topics that you
would like to see in the future.
Thank you for listening to the
Mesmerizing Marketing Podcast.
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