AI Solutions to the Explosion in Data Volume and Complexity
November 21, 2024
A Relativity webinar panel of legal experts explored how the explosion of data volume and complexity is transforming the legal industry, emphasizing the demand for AI solutions. Moderated by Benjamin Ng of Relativity, the panel included legal and technology experts Gino Bello, FTI Consulting Singapore; Jayant Saran, Deloitte India; and Loong Tse Chuan, Allen & Gledhill.
These are the major issues that were discussed:
Current data landscape. The legal profession faces unprecedented data volumes with increasingly diverse formats like voice memos, instant messages, and ephemeral communications. According to Bello, data that used to reside in emails is now found in off-channel communications like WhatsApp and Slack. AI and other technologies are needed to efficiently manage these hundreds of millions of records and extract key insights.
Regulatory compliance challenges. Recent SEC fines have exceeded $2 billion for failure to retain off-channel communications, highlighting the importance of proactive data management. Legal professionals should consider advanced AI-driven solutions and ensure they thoroughly understand regional data policies to assure compliance despite large or complex data volumes.
Human-AI collaboration. Rather than functioning as a human replacement, AI augments human capabilities, accelerating case resolutions and enhancing decision-making processes. Effective human-AI collaboration requires clear goals and data quality, with human oversight for interpreting AI-driven insights.
Emerging Trends in Legal Technology. Panelists noted a gradual integration of AI in the legal sector. Bello recommended enhancing existing systems with “bolt-on” technologies to reduce disruption and provide a comfort zone for legal team members. Human oversight and robust testing with replicable results can overcome concerns about trust in AI solutions.
Because of the explosion in data volume and complexity, AI is indispensable in navigating the evolving legal landscape, enabling professionals to address data challenges with agility and precision.
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