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Predictive Analytics
Identify Great Customers from Their First Purchase
December 22, 2019
The researchers extracted six variables to represent first-time customers’ acquisition behavior, including whether the purchase was made online or offline, number of items purchased, prices, discounts, whether the purchase was made during a holiday period, and whether the customer purchased a newly released product. With only those six variables, the authors show how the algorithm can better identify future heavy spenders and those who will be most responsive to future email promotions after just...
December 22, 2019
The researchers extracted six variables to represent first-time customers’ acquisition behavior, including whether the purchase was made online or offline, number of items purchased, prices, discounts, whether the purchase was made during a holiday period, and whether the customer purchased a newly released product. With only those six variables, the authors show how the algorithm can better identify future heavy spenders and those who will be most responsive to future email promotions after just...
How AI Enables Stronger Litigation
November 18, 2019
Although artificial intelligence (AI) has been used in the e-discovery space for more than a decade, the technology is now capable of more complex litigation tasks such as legal research, drafting pleadings, and predicting judicial decisions. These tasks can be completed in a fraction of the time it would take a human to do them. If AI can help lawyers and law firms more quickly process and analyze large amounts of data, and in turn, make the litigation process less expensive,...
November 18, 2019
Although artificial intelligence (AI) has been used in the e-discovery space for more than a decade, the technology is now capable of more complex litigation tasks such as legal research, drafting pleadings, and predicting judicial decisions. These tasks can be completed in a fraction of the time it would take a human to do them. If AI can help lawyers and law firms more quickly process and analyze large amounts of data, and in turn, make the litigation process less expensive,...
Prospect Theory and Stock Market Anomalies
November 15, 2019
We present a new model of asset prices in which investors evaluate risk according to prospect theory and examine its ability...
November 15, 2019
We present a new model of asset prices in which investors evaluate risk according to prospect theory and examine its ability...
Overcoming Impasse in Mediation
November 12, 2019
Why are we at Impasse? First, mediators must appreciate why lawyers and their clients are struggling with these...
November 12, 2019
Why are we at Impasse? First, mediators must appreciate why lawyers and their clients are struggling with these...
Re-engineering justice? Robot judges, computerised courts and (semi) automated legal decision-making
November 10, 2019
This paper takes a sceptical look at the possibility of advanced computer technology replacing judges. Looking first at the example of alternative dispute resolution, where considerable progress has been made in developing tools to assist parties to come to agreement, attention then shifts to evaluating a number of other algorithmic instruments in a criminal justice context. The possibility of human judges being fully replaced within the courtroom strictu sensu is examined, and the various elements...
November 10, 2019
This paper takes a sceptical look at the possibility of advanced computer technology replacing judges. Looking first at the example of alternative dispute resolution, where considerable progress has been made in developing tools to assist parties to come to agreement, attention then shifts to evaluating a number of other algorithmic instruments in a criminal justice context. The possibility of human judges being fully replaced within the courtroom strictu sensu is examined, and the various elements...
Artificial Intelligence update: Robot solves Rubik’s Cube
November 1, 2019
For those interested in the debate over whether and how AI will impact legal practice (including replacing the need for attorneys when it comes to the more routine tasks associated with practicing law), there's this article from today's New York Times reporting on a robotic hand that was trained to solve a Rubik's Cube. Given that the AI programmers gave the robot the equivalent of 10,000 years to practice the task, query whether this is really a reflection of artificial learning or instead...
November 1, 2019
For those interested in the debate over whether and how AI will impact legal practice (including replacing the need for attorneys when it comes to the more routine tasks associated with practicing law), there's this article from today's New York Times reporting on a robotic hand that was trained to solve a Rubik's Cube. Given that the AI programmers gave the robot the equivalent of 10,000 years to practice the task, query whether this is really a reflection of artificial learning or instead...
Will artificial intelligence replace human lawyering?
October 25, 2019
This article argues "no" - at least not when it comes to uniquely human skills like empathy, imagination, and creativity. (But see this new book by Professor Arthur Miller - no, not that one - who argues that when it comes to creativity, AI will eventually surpass the human ability to create in truly novel ways). The article, by Professors Julie A. Oseid (St. Thomas - Minn.), Amy Vorenberg (UNH), and Melissa Love Koenig (Marquette) is called Ok, Google, Will...
October 25, 2019
This article argues "no" - at least not when it comes to uniquely human skills like empathy, imagination, and creativity. (But see this new book by Professor Arthur Miller - no, not that one - who argues that when it comes to creativity, AI will eventually surpass the human ability to create in truly novel ways). The article, by Professors Julie A. Oseid (St. Thomas - Minn.), Amy Vorenberg (UNH), and Melissa Love Koenig (Marquette) is called Ok, Google, Will...
Litigation Finance Startup Legalist Raises $100 Million to Fund Lawsuits
October 18, 2019
Legalist, a San Francisco-based litigation finance company started by two Harvard University dropouts and advised by retired 7th U.S. Circuit Court of Appeals Judge Richard Posner, has just raised $100 million, which it will use to fund plaintiffs in 100-200 commercial cases over the next two years. Legalist scrapes federal and state court records and then uses algorithms to predict case outcomes and determine the best cases in which to invest. It invests exclusively in mid-market cases that...
October 18, 2019
Legalist, a San Francisco-based litigation finance company started by two Harvard University dropouts and advised by retired 7th U.S. Circuit Court of Appeals Judge Richard Posner, has just raised $100 million, which it will use to fund plaintiffs in 100-200 commercial cases over the next two years. Legalist scrapes federal and state court records and then uses algorithms to predict case outcomes and determine the best cases in which to invest. It invests exclusively in mid-market cases that...
An Offer You Can’t Refuse: How A.I. Is Poised to Transform Negotiations. Eye on A.I.
September 12, 2019
Jared Curhan is a professor at M.I.T.’s Sloan School of Management who specializes in negotiation. His particular...
September 12, 2019
Jared Curhan is a professor at M.I.T.’s Sloan School of Management who specializes in negotiation. His particular...
Lex Machina releases report on Employment Litigation in the Southeast
September 11, 2019
The Southern District of Texas was one of the busiest venues for employment litigation, according to a report recently released...
September 11, 2019
The Southern District of Texas was one of the busiest venues for employment litigation, according to a report recently released...
