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News
Over half of in-house teams will have AI by next year
updated on 15 February 2019
The majority of corporate legal departments will be using artificial intelligent systems in a year’s time, a survey of global businesses has predicted.
The survey found that 37% of respondents are already using AI to review contacts and agreements, and that 47% of those who don’t currently said that that it is ‘likely or highly likely’ that their business will implement AI software in the coming year. The main reason for using AI was reported as the need to comply with data privacy legislation, including the EU General Data Protection Regulation (GDPR), with 55% of respondents having said that they implemented the system for this purpose.
The report, which was conducted by a supplier of AI-based contract review systems, also warned that AI will not work straight out of the box, and that it will not end the need for manual review by humans.
