Technological innovations and advances have transformed the world around us, allowing us to live a better, more fulfilling life. It has simplified our everyday tasks, made things easier at the office, improved healthcare systems and tools, and unlocked new possibilities for our leisure. The latest revolution in technology is being powered by Artificial Intelligence (AI) and Machine Learning (ML), which have already made their mark in various sectors such as medical research, space exploration, economic studies, and weather predictions. One of the most significant achievements of AI till date has come in the world of board games such as Chess and Go, where it has completely surpassed the human ability to think strategically and tactically. AI powered systems have already defeated the world’s top players in Chess and Go.
Healthcare is another sector that has benefitted immensely from AI, especially in developed countries such as the United States (US). AI systems currently being used in the US in healthcare sector are designed to sense, comprehend, learn, and act by utilizing advanced algorithms and scanning through voluminous amounts of data. This has enabled AI to take over many of the tasks such as administrative and clinical health functions. AI is not just helping humans with these tasks, but it is also doing it much better, with a far greater accuracy and speed. Some of the most common tasks that AI has been associated with in the healthcare sector include preliminary diagnosis, automated image diagnosis, dosage error reduction, administrative workflow assistance, virtual nursing assistance, clinical trial participant identifier, robot-assisted surgery and cyber security. AI has also enabled significant cost savings, and it is estimated that by the year 2026, it will help save $150 billion for the US healthcare sector.
AI and ML have also started making inroads in the legal sector in the United States. Many of the tasks that junior lawyers used to do earlier are now being done by AI systems. In the legal sector also, AI is doing the tasks far more accurately, effectively and helping save costs for legal firms. By automating mundane, routine tasks, AI is also allowing lawyers to focus on their high-end tasks such as legal advice, negotiations, preparing arguments for the court, writing legal briefs, etc.In the legal sector in the US, AI is now being widely used in areas such as compliance, legal research, contract analysis, e-discovery, document automation, and case prediction.
Legal experts in India believe that India’s legal sector has immense opportunities to ride the AI wave. To help with this, Law Pundits, in association with MYADVO, has launched the Legal Tech Fair 2017 (LTF 2017) that will be held on July 15 in New Delhi. LTF 2017 will showcase the most advanced technologies and innovations being utilized in the legal domain globally. It will feature several of the leading technology companies in the legal domain, who will conduct workshops and discussions related to the latest technology innovations in the legal space. LTF 2017 is the place for lawyers and law firms to explore new technological systems and innovations and learn how these can help to significantlyenhance their legal practice.