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Predictive Analytics
IBM Says New Watson Tool Could Dramatically Reduce Outside Counsel Spend
May 27, 2017
A new tool using International Business Machines Corp.'s Watson, notorious for defeating its human competitors on "Jeopardy" in 2011, is hard at work for in-house legal departments with the goal of significantly reducing outside counsel spend. So far, use of "Outside Counsel Insights," or OCI, has been limited to legal departments in the financial services industry, according to Brian Kuhn, co-founder and leader of IBM Watson Legal. But with the potential to save as much as 30 percent on annual...
May 27, 2017
A new tool using International Business Machines Corp.'s Watson, notorious for defeating its human competitors on "Jeopardy" in 2011, is hard at work for in-house legal departments with the goal of significantly reducing outside counsel spend. So far, use of "Outside Counsel Insights," or OCI, has been limited to legal departments in the financial services industry, according to Brian Kuhn, co-founder and leader of IBM Watson Legal. But with the potential to save as much as 30 percent on annual...
Financial Times: Artificial Intelligence Closes In On The Work Of Junior Lawyers
May 25, 2017
“The 2020s will be the decade of disruption,” says Professor Richard Susskind, co-author of The Future of the Professions: How Technology Will Transform the Work of Human Experts. He believes there is growing demand from executives who control corporate legal budgets to cut costs by taking advantage of the savings offered by technology. ... So far, firms say, technology has not meant job losses. But Prof Susskind believes a wave of lay-offs is to come — law firms are still experimenting...
May 25, 2017
“The 2020s will be the decade of disruption,” says Professor Richard Susskind, co-author of The Future of the Professions: How Technology Will Transform the Work of Human Experts. He believes there is growing demand from executives who control corporate legal budgets to cut costs by taking advantage of the savings offered by technology. ... So far, firms say, technology has not meant job losses. But Prof Susskind believes a wave of lay-offs is to come — law firms are still experimenting...
AI & Predicting USSC Case Outcomes
May 24, 2017
As legal scholars begin to digest AI's ramifications for law and legal analysis, a recent paper exploits the Supreme Court Database to illustrate AI's ability to predict case outcomes. In A general approach for predicting the behavior of the Supreme Court of the United States, Daniel Katz (Chicago-Kent) et al. explore almost two centuries of Supreme Court decisions and use an algorithm to successfully predict 70.2% of the case outcomes and 71.9% of individual justice-level votes. The abstract follows. "Building...
May 24, 2017
As legal scholars begin to digest AI's ramifications for law and legal analysis, a recent paper exploits the Supreme Court Database to illustrate AI's ability to predict case outcomes. In A general approach for predicting the behavior of the Supreme Court of the United States, Daniel Katz (Chicago-Kent) et al. explore almost two centuries of Supreme Court decisions and use an algorithm to successfully predict 70.2% of the case outcomes and 71.9% of individual justice-level votes. The abstract follows. "Building...
Get Ready for Artificial Intelligence (AI) in the Middle of Blockchain!
May 21, 2017
The eCommerceTimes column described combining “AI with blockchain allows for the secure, transparent review of data that...
May 21, 2017
The eCommerceTimes column described combining “AI with blockchain allows for the secure, transparent review of data that...
Human Agency and Behavioral Economics
May 20, 2017
The Legal Theory Bookworm recommends Human Agency and Behavioral Economics: Nudging Fast and Slow by Cass R. Sunstein. Here is a description: This Palgrave Pivot offers comprehensive evidence about what people actually think of “nudge” policies designed to steer decision makers’ choices in positive directions. The data reveal that people in diverse nations generally favor nudges by strong majorities, with a preference for educative efforts – such as calorie labels - that equip individuals...
May 20, 2017
The Legal Theory Bookworm recommends Human Agency and Behavioral Economics: Nudging Fast and Slow by Cass R. Sunstein. Here is a description: This Palgrave Pivot offers comprehensive evidence about what people actually think of “nudge” policies designed to steer decision makers’ choices in positive directions. The data reveal that people in diverse nations generally favor nudges by strong majorities, with a preference for educative efforts – such as calorie labels - that equip individuals...
Why In-House Counsel Find Value in Litigation Analytics
May 20, 2017
One of the key challenges faced by general counsel is doing more with less. With Litigation Analytics you can better predict...
May 20, 2017
One of the key challenges faced by general counsel is doing more with less. With Litigation Analytics you can better predict...
Lex Machina: Q1 2017 Fewest Patent Infringement Cases Since Q3 2011
May 18, 2017
On April 12th, legal data analytics firm Lex Machina released a litigation update report for the first quarter of 2017 which highlights trends in intellectual property suits being filed in U.S. district courts. One of the key findings is that only 938 patent infringement actions were filed in district courts during the recent quarter, a total which is the lowest for a single quarter since the third quarter of 2011 when only 921 such cases were filed. Although that data point sounds significant,...
May 18, 2017
On April 12th, legal data analytics firm Lex Machina released a litigation update report for the first quarter of 2017 which highlights trends in intellectual property suits being filed in U.S. district courts. One of the key findings is that only 938 patent infringement actions were filed in district courts during the recent quarter, a total which is the lowest for a single quarter since the third quarter of 2011 when only 921 such cases were filed. Although that data point sounds significant,...
Law Schools and Law Students Both Benefit from Hands-on Experiential Learning Programs
May 16, 2017
Don Philbin, a top-ranked mediator in Texas as well as adjunct faculty member and double alumnus at Pepperdine Law School, saw an opportunity to include law students in creating Picture It Settled®, a highly intelligent predictive analytics software tool that guides inside and outside counsel through the negotiation process, based on deep data harvested from thousands of cases. Philbin explains, “We started gathering data and realized that students were interested in examining what happened...
May 16, 2017
Don Philbin, a top-ranked mediator in Texas as well as adjunct faculty member and double alumnus at Pepperdine Law School, saw an opportunity to include law students in creating Picture It Settled®, a highly intelligent predictive analytics software tool that guides inside and outside counsel through the negotiation process, based on deep data harvested from thousands of cases. Philbin explains, “We started gathering data and realized that students were interested in examining what happened...
How Machine Learning in G Suite Makes People More Productive
May 13, 2017
Email management, formatting documents, creating expense reports. These are just some of the time-sinks that can affect your productivity at work. At Google, this is referred to as “overhead”—time spent working on tasks that do not directly relate to creative output—and it happens a lot. According to a Google study in 2015, the average worker spends only about 5 percent of his or her time actually coming up with the next big idea. The rest of our time is caught in the quicksand of formatting,...
May 13, 2017
Email management, formatting documents, creating expense reports. These are just some of the time-sinks that can affect your productivity at work. At Google, this is referred to as “overhead”—time spent working on tasks that do not directly relate to creative output—and it happens a lot. According to a Google study in 2015, the average worker spends only about 5 percent of his or her time actually coming up with the next big idea. The rest of our time is caught in the quicksand of formatting,...
Let Me Introduce You to Three Robot Lawyers
May 13, 2017
The practice of law is going to look very different 15 years from now. The most routine legal work traditionally performed by human lawyers will likely be carried out by artificial intelligence (AI). In fact, some law firms have already employed robots to perform legal services and private companies are rapidly developing new artificial intelligence and data analytics tools for lawyers. I would like to introduce you to three examples. Do Not Fear the Robots Ross, Lex Machina and Kira are just...
May 13, 2017
The practice of law is going to look very different 15 years from now. The most routine legal work traditionally performed by human lawyers will likely be carried out by artificial intelligence (AI). In fact, some law firms have already employed robots to perform legal services and private companies are rapidly developing new artificial intelligence and data analytics tools for lawyers. I would like to introduce you to three examples. Do Not Fear the Robots Ross, Lex Machina and Kira are just...
