Artificial Intelligence (AI) is like Marmite. People either embrace it positively or ignore it without thinking through what AI means and what it could do for them.
In fact, without realising it, many of us work with AI on a daily basis for the likes of fraud prevention, robotics, customer service, spam filters, facial recognition, healthcare research, agriculture analysis, social media, marketing campaigns, and much more.
The question remains: how can AI be deployed within the legal profession?
One example is Y Meadows’ AI system which allows users to directly connect OpenAI’s GPT framework within their internal knowledge base and ticketing systems. Direct connection with Microsoft Outlook and Google Gmail allows for responding immediately to emails as well as support cases.
Y Meadows matches the client’s question with the relevant knowledge – even when that knowledge is firm-specific – then creates responses to client issues and integrates those responses with the firm’s internal support systems.
In short, the system can read and understand repetitive inbound digital communications, such as emails. It then writes up the answer and sends it to you for approval before being passed onto the client.
All of this is achieved in seconds. Productivity has improved. The client experience has improved. The cost to serve has reduced. Once engaged, your robot will be happy to work 24 x 7 x 365 answering those mundane queries, giving the fee earner more time to work on additional matters or take more leisure time.
The impact in conveyancing firms
A typical conveyance has 20 repetitive email requests from start to finish. This could be the estate agent asking for progress or the buyer or vendor asking for an update.
We’ll allow a fee earner six minutes to reply to each email to include looking at various systems, updating these, constructing, typing, and sending the answer.
20 emails per matter x 6 minutes = 120 minute = two hours’ time saving per matter. The annual time saving for a conveyancer who handles circa 120 cases per annum is 240 hours.
So, if a law firm processes 4,000 transactions per annum, the time saving would be 8,000 hours per annum.
It allows the conveyancer to get on and do the job they are trained for.
Another example is the Y Meadows conversation summary tool where the system can summarise messages and put that into the case to save time for the fee earner.
Even for complex cases, AI can be used for research and for drafting correspondence. Think of AI as an extra pair of hands that works alongside you to do the heavy lifting.
People just want their questions resolved accurately and as soon as possible. If you do this in seconds, you are on the front foot. Clients are not bothered about the methodology.
“As digital transformation continues to tighten the bonds between businesses and their customers, Y Meadows seeks to equip businesses with the appropriate tools to adapt to rapidly changing environments. Accomplishing this mission requires a strong commitment and understanding of emerging technologies.”, said Alan Rich, CEO of Y Meadows.
This article was submitted to be published by Y Meadows. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.
