Charles Uniman’s Post

AI is a timesaver for Lawyers..As it is for Financial Advisors…. The start of the journey www.mywealthai.com.au

Latest News from https://legaltech.fyi Here are some of the exciting updates in the world of LegalTech: 1️⃣ Weightmans' Innovative Approach: UK-based Weightmans is revolutionising client service through productised services and Innovation Partners, leveraging legal tech to meet evolving client needs. 💼🤖 2️⃣ Google's AI Mishap: Google's AI Overview feature faced a significant setback, producing absurd and false answers, serving as a cautionary tale for all working with AI technology. 🚨💡 3️⃣ GenAI in Legal Operations: Experts believe that Generative AI could transform legal operations, though it might not lower costs immediately. Implementation issues remain a key challenge. 🧠⚖️ 4️⃣ Insider Trading Policy Changes: Following a novel SEC win, S&P 500 companies are reconsidering their insider trading policies, potentially relaxing bans on 'shadow trading'. 📉📈 5️⃣ Cost Savings Through Live Bidding: A pharmaceutical company's in-house legal team saved $1 million by using live bidding software to adjust law firm proposals, reducing costs right from the start. 💰🏦 6️⃣ AI Legal Research Tools Under Scrutiny: Stanford's study reveals that AI legal research tools hallucinate in 17% of queries, overstating their accuracy. This raises important questions about their reliability. 🧪📊 7️⃣ iManage & HYCU Partnership: iManage is teaming up with HYCU to develop a cloud backup connector, enhancing backup capabilities for customers. 🌐🔒 8️⃣ SurePoint Acquires Leopard Solutions: SurePoint Technologies has acquired Leopard Solutions, combining data to offer valuable benchmarking insights for the legal industry. 📊🔍 9️⃣ Juralio's European Expansion: Juralio partners with ex-EY Eric Eck and Guirbaden to drive product development and market strategy across Europe. 🌍🚀 #LegalTech #Innovation #AI #LegalIndustry

How technologically mature is your law firm? There is much buzz around AI but are we putting the proverbial cart before the horse? Is there strong consideration on the foundational components of what helps align the firm's vision with a solid technology roadmap? Oh yeah - and how about #ITbudgetmaturity? https://lnkd.in/g4FG7kb9 #legaltech #techmaturity #lawfirmIT

The latest news on https://LegalTech.fyi 1️⃣ Evisort unveils Document X-Ray™, a groundbreaking AI tool for contract analysis! 📜✨ This tool not only answers contract-related questions but also creates structured data points, revolutionizing how organizations handle documents. 2️⃣ The Florida Bar gives the green light for ethical use of generative AI by lawyers, setting a new standard in legal practice. 🤖⚖️ Important to remember: compliance and client confidentiality are key. 3️⃣ Kili Technology introduces davinci, an AI tool promising to draft patents in half the time. ⏱️📃 Early testing shows a 50% time saving – a game changer for patent lawyers. 4️⃣ Spellbook secures a massive $20M in Series A funding, demonstrating the growing trust and reliance on AI in legal drafting. 💼🚀 The future of contract drafting is here. 5️⃣ Syntheia focuses on enhancing user experience with their latest software updates, integrating generative AI for better collaboration. 🖥️🤝 Exciting times ahead for transactional lawyers. 6️⃣ Consilio rebrands Flex Talent Solutions to Lawyers On Demand and integrates SYKE into their advisory business. 🌍🔍 This move aims to expand their global legal talent network. 7️⃣ MyCase by AffiniPay steps into the AI arena with their first generative AI tools, including a document summarization feature. 📊📝 AI is reshaping legal practice management.

Gartner Predicts Legal Tech Market Will Hit $50 Billion by 2027. Is That Realistic? | Legaltech News: A recent report by Gartner predicts that the legal tech market is expected to reach $50 billion by 2027, largely due to the impact of generative AI. However, there are differing views on whether generative AI can rapidly propel the market to such heights.

Very interesting indeed. As I was reading this article I kept thinking, “as a legal professional, always consult a reliable source!” AI is very useful, but knowing how and when to use it is essential to take advantage of it without exposing yourself to risks in the practice of law, especially in court. #AI #LegalTech #Lawyers #Innovation https://lnkd.in/er-QK8-x

🚨 WA Court Bans AI-Enhanced Video Evidence! 📹🤖 In a landmark decision, a Washington court has banned AI-enhanced video evidence, citing reliability issues. This ruling highlights long-standing concerns over the authenticity and manipulation potential of AI-processed videos. This decision raises questions about the future use of AI in legal proceedings. 💬 How will this affect the future of legaltech? Comment below Read more: https://lnkd.in/dzUwWc3a

Word is there are still a very few tickets left for FutureLaw at Stanford Law this Thursday. Few topics are more relevant for today, in my view, combining massive changes in computing with the law, in the USA and around the world. Good, maybe even great tools are gestating, and challenging situations and damaging enablers are stewing right along with them. The speakers on the program for Thursday are in the thick of it. ( auto correct - AI? - wrote 'think of it' - see, it's working already ! ) got my ticket, looking forward to it -- b.rad <https://lnkd.in/g_7bWRFN>

In an exciting release, A&O announces not only that their associates have been using Harvey pretty regularly for some time but also that the firm has teamed up with Microsoft to create a ContractMatrix Tool that will make the creation of contracts significantly faster and more accurate in the future, saving clients untold billable lawyer hours. In fact, five of A&O's clients have already agreed to a January launch of the ContractMatrix Tool! #AI #legaltech #legalAItools #Harvey #Microsoft

As AI Technology continues to advance at a rapid pace, it's becoming more and more clear that its impact will be felt across virtually every industry. Our latest study, The Business of Your Practice, highlights that more than 85% of attorneys felt that the continued development of AI would have a moderate to significant impact on the legal field, with 40% believing that impact would be "very significant." With the ability to analyze vast amounts of data quickly and accurately, AI has the potential to streamline many of the more tedious and time-consuming tasks that are currently part of the legal process, freeing up attorneys to focus on more complex and strategic work: https://lnkd.in/g2yxbJQa