There is no doubt AI has fundamentally changed and enhanced our lives — cities are connected, homes are smarter, and the way we do business is more efficient. Despite the advancements in technology, one thing is for certain: There are still many industries and workflows that need humans. The legal industry is a prime example as machines don't yet have the cognitive skills and critical thinking ability needed to execute actions like constructing, negotiating, or adhering to complex contracts.
However, complex processes can be accelerated by AI as long as it's paired with a human operator — an approach called human-in-the-loop. Advancements in legal technology make these processes easier by turning documents into data that feeds an AI system. In doing so, companies — with the help of seasoned human legal experts — can use AI to augment their abilities and find efficiencies in everything from how they negotiate documents to how they manage their obligations to their business partners.
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