What to Consider As Your Organization Becomes More Intelligent
The question is not will the legal industry completely implement artificial intelligence and analytics expertise, it is a matter of when. In the past several years, artificial intelligence and machine learning have made their way into industries across the board. Despite the prevalence of technology elsewhere, the legal industry is notorious for dragging its feet to adopt new technology. Regulations have been slow to catch up to this new technology, which is developed at breakneck speeds.
As an organization, however, it is imperative that operations run at the highest level of efficiency. These days, an organization cannot afford to operate behind the technology curve. Mundane and repetitive tasks are not the only processes that are optimized. Various decision-making processes, creative processes, and document management are all examples that can all be optimized analytics, predictive coding, and artificial intelligence.
When implementing new technologies, there are several questions organizations must ask:
1. Are We Efficient?
Starting out, it is necessary to evaluate where your organization stands in relation to others in the industry and in terms of internal efficiency. Each organization varies in terms of budget and culture, which decide the receptiveness of adopting new technology. However, there are always processes that can be optimized. Once you determine what these processes are, you must decide how best improve to these and with what tools and technologies.
2. What Are Our Options for Information Management?
To many organizations, knowing how to best leverage data may be unclear. In many cases, organizations deal with huge amounts of data resulting from the data boom and the Internet of Things. When managed correctly, this data can provide valuable insights. Most of the time, sophisticated expertise and processes are necessary for maintaining industry best practices and optimal management.
3. Are Our Workflows Intelligent?
Additional services should be implemented to improve accuracy and productivity. Without the implementation of services such as duplicate detection and term highlighting, the discovery process may be impacted significantly. For this reason, organizations use analytics and other intelligent services for real-time, optimized work processes in order to stay competitive.
Another factor to consider is the databases, housing huge volumes of data in various formats, and their potential inherent biases from their developers. In order to account for these biases, it is best practice to utilize multiple databases in the discovery and review process. However, this results in exorbitantly high amounts of data presented to review teams. Without effective workflows and expertise, process efficiency and quality are thrown out the window.
4. Are We Compliant?
Some of the top worries organizations have with implementing new technologies are whether it will be compliant with privacy and security regulations. Data security and privacy are huge concerns when considering implementing the latest technology. GDPR and CCPA are two regulatory measures that are top of mind when dealing with PII and PHI. Organizations walk a fine line between operating efficiently and maintaining compliance standards.
As an organization, it’s imperative to continuously check in on the efficiency, compliance, and transparency at which you operate. Optimizing workflows and reporting is vital in maintaining your position as a competitive organization.