AI tools for legal matters come in different forms; there are those catered toward professionals such as CoCounsel and Spellbook, enabling them to, for instance, go through contracts, and those for “regular” users offering all kinds of legal advice. Probably the most common use case for the latter group is an AI-powered chat with a virtual lawyer (like AI Lawyer) who’s been fed a ton of legal data and can provide legal advice on demand.
It is well understood that the legal industry will be significantly impacted by the rise of modern AI tools, with lawyers and the general public getting a helping hand in their journeys through the legal system. Or just advice on how to overturn a parking ticket.
Depending on what you do — as in, whether you’re a legal professional or not — you can do many things with these tools, such as:
These AI tools can generate a range of legal documents such as contracts, agreements, wills, and legal notices. You simply input the necessary details and let AI do its magic, producing the document you could use.
AI tools can help conduct legal research thanks to their ability to analyze large amounts of data and identify relevant cases, statutes, and legal precedents. This is a valuable tool for today’s lawyers, saving them a ton of time and effort along the way. CoCounsel and Spellbook are the top choiced for AI-powered legal research.
Another use case for professionals. These tools can analyze contracts and identify any potential issues, inconsistencies, or areas that may need revision. As a result, you get a contract that is legally sound and complies with all the necessary regulations. Again, check out CoCounsel and Spellbook.
Beyond contracts, these tools can also analyze other legal documents, ensuring that they are consistent and free of any errors.
There are some advanced AI tools that can predict legal outcomes based on the analysis of past cases and legal precedents. This can be especially helpful for developing a legal strategy.
As noted above, there are AI tools offering the general public the ability to chat with a virtual lawyer which has been trained on all kinds of legal documents. Probably the most popular tool in this category are AI Lawyer and DoNotPay.
All in all, AI tools for legal matters offer a range of benefits, but you should still use them with caution as there are little guarantees they will work. Nevertheless, they could be used as a starting point and even in that “role” – they will deliver significant time savings.