Would you trust an “artificially intelligent colleague” to solve your legal disputes?
It may be closer than you think as AI and cognitive technology advances prove no industry is safe from disruption.
(thanks to the Procurious Blog for this article)
At the end of last week, it was announced that a major US law firm, Baker & Hostetler, had hired Ross to run its bankruptcy practice. Not major news you might think, until you realise that ROSS is the world’s first “artificially intelligent attorney”.
Built upon the same concept as IBM’s Watson, and using the same cognitive technology, ROSS is another example of a major technological disruptor, and proof that no profession is safe from the advance of AI.
Setting a Precedent
In many ways, ROSS is very similar to the original Watson technology. The AI can read and understand language, generate hypotheses for questions it is asked, and can back up these hypotheses with research and citations from legal literature and cases.
The success of ROSS is centred on how it learns. As the AI interacts more with its human colleagues, it learns from its experience, getting more intelligent and faster at problem solving with each task it does.
It can also perform these tasks faster than human counterparts, examining thousands of documents in a fraction of the time it would take a person to do. It is also able to filter these results, and only presents the most relevant cases and citations from the data available.
Although Baker & Hostetler are the first to publicly announce signing up ROSS, Andrew Arruda, CEO and co-founder of ROSS Intelligence, has confirmed that a number of other law firms have already signed licences to use ROSS too.
My own market research confirmed this trend in my industry
In December, during the process of my stage one of my business digital disruption, I discovered that there were already two artificial intelligence driven coaching products on the market.
At the time, feedback showed the technology was performing at a simple level, but it had aready automated several key coaching services.
What does this mean for your industry?
That is precisely what you are in charge of. How are you going to respond to this trend? Where are you going to position yourself and your products in the market to ring fence your clients from this challenge? Can you use this technology to your own advantage? How?