Casebook for new law firms and ALSP’s
In today’s world, bigger law firms have the manpower and expertise to bid for clients that will bring them greater revenues. Bigger clients often prefer a similar caliber of law firm as they feel that, the smaller or medium sized firms are not well equipped to deal with the amount of data available.
For smaller sized or medium sized firms, Artificial Intelligence (AI) has been revolutionary. The adoption of this technology across all Industries has been quick. Companies have realized that machine learning and data analysis tools have created avenues which weren’t possible before. These benefits can now be carried forward to the law industry through AI.
ALSPS are companies that provide services to businesses whilst not actually being a law firm. They have caused a huge shakeup in the market and have proven to be a big threat for the law firms in the industry. They are probably as close it gets to an ‘AI lawyer’, in a way that they are never afraid to innovate and adopt new technology. This is a relatively new concept and it seems to be catching the attention of more and more clients; a fast-growing industry in recent times as well. The benefit of being an ALSP is that they operate on a smaller scale compared to the traditional consultancy groups which allows them to be creative. The entrepreneurial heads of these providers aren’t afraid of making ‘Legal AI’ a thing.
The current ALSP’s can obtain the services of casebook and can fulfil tasks that were extremely time-consuming beforehand. Considering the fact that the commodities on their portfolio’s may have huge amounts of data to deal with, Intelli-Contract can be a game changing program to sort out contracts and clauses for bigger clients. Especially for ALSP’s in Pakistan, the capability of the software will be unmatched as Urdu and English both are included.
Considering the workload of even the bigger firms is increasing, the traditional law firms usually try to outsource their work to ALSP’s. As the costs of the tradition big four (Deloitte, PwC, KPMG, EY) are rising, including the costs of law firms as well, the demand for more cost-efficient firms has risen. That is where these ALSP’s come in and this is a major reason why they are starting to capture a portion of the market share. The ALSP’s have specialized workers who are up to date with the newest and latest technology. This creates efficiency for both parties as the bigger firms can focus on tasks that are much more important, whereas ALSP’s, do the ‘dirty’ work in a way for them.
ALSP’s are sometimes generating more revenue than some law firms themselves and this trend doesn’t seem to be going away too soon. The fact of the matter is that, these firms are well equipped to work with AI in the law industry and are more than willing to provide their clients with the most updated services. Furthermore, even clients today are looking for service providers that make sure nothing is missed in the documentation which can be ensured through our Intelli-Search.
Gain your competitive edge
For new and upcoming law firms, or even if you are an already existing law firm, Artificial Intelligence in law is the way to go. Casebook will never intend on replacing the exist lawyer, in fact, the programs will aid the lawyer in going through documents in less than half of the time, with higher satisfaction results in comparison to manual inspection.
This can be a clear unique selling point for any law firm as this shows adaptability and a willingness to provide their clients with the most authentic, accurate information possible. Our Intelli-Search can be called the “AI lawyer” on its own considering the way it can identify undiscovered points in contracts and clauses that can be used for further arguments.
Benefits
The aim for most companies will always be efficiency and profitability. The Casebook AI is perfect for that. Casebook helps lawyers save time whilst ensuring nothing in the data was missed and there were no compromises on quality. Combining our unsupervised and supervised machine learning, there is a guarantee of a robust analysis which will drive better results and overall, a better understanding of the problems at hand.
Attracting bigger clients will never get easier than this. With Casebook at your disposal, companies will be attracted towards a law firm that is employing the Casebook AI. Gone are the days of constantly going through hundreds of files and still not being confident of your findings; completing work more efficiently will allow firms to go after newer clients too.
