AI for Legal Professionals

Artificial intelligence in law and legal practice

Artificial intelligence (AI) is changing the practice of law. Legal AI tools can help lawyers automate manual processes and work more efficiently, but as AI technology continues to evolve, legal professionals need to understand how to balance the benefits with the potential risks and ethical questions of AI in law and legal practice.

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For more than a decade, Bloomberg Law has been perfecting the power of artificial intelligence to help lawyers speed up and simplify legal tasks. With recent AI and machine learning breakthroughs, now even more is possible.

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Legal professionals are harnessing artificial intelligence to help them meet new and ongoing challenges. For example: AI can help lawyers quickly produce initial drafts of motions, legal briefs, contracts, and settlement agreements, which in the past have been time intensive.

However, the use of AI in law also raises issues of algorithmic bias (when the algorithm itself is biased, or when an otherwise unbiased algorithm is trained on biased data), hallucinations (the phenomenon by which AI chatbots may provide false information in response to a prompt), inaccuracies, and confidentiality concerns.

Here, we take a comprehensive look at AI for lawyers and available AI functionality within legal software, while also examining the potential risks of AI solutions and technology’s role in the future of law. Read on to learn more about the impact of AI in the legal profession, and discover how lawyers can strategically and ethically use this technology to automate and simplify legal tasks.

[Download A Buyer’s Guide to Legal AI Tools for expert tips to help legal professionals choose the right AI solutions to enhance their practice.]

Legal software powered by AI you can trust

With recent AI and machine learning breakthroughs, legal technology software products are starting to incorporate AI to assist with legal matters. The nuances and challenges of AI and machine learning aren’t new to us – in fact, we’ve been testing and building the Bloomberg Law all-in-one legal platform with the most cutting-edge AI technology for more than a decade. With the unmatched speed of AI layered into the world’s top legal intelligence platform, legal professionals can prepare better and faster than ever before.

Want to learn more about how generative AI is transforming the practice of law? Download our report on AI and the Legal Profession in 2024 to explore AI’s potential impact on important areas of law.

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