Executive Summary
In this video, Akber Datoo explains that effective legal transformation involves understanding what technology will be used for and the data required. He warns that firms often jump to buying tools without clear requirements and emphasises that there is no AI without data, urging organisations to develop an AI strategy that includes data readiness and human‑computer interaction.
Key Takeaways
In this video, Akber Datoo explains that effective legal transformation involves understanding what technology will be used for and the data required.
He warns that firms often jump to buying tools without clear requirements and emphasises that there is no AI without data, urging organisations to develop an AI strategy that includes data readiness and human‑computer interaction.
So what is legal transformation?
Key Quote
“A fool with a tool is still a fool; there is no AI without data”
Transcript
Readable segmented versionSo what is legal transformation? That is a really important question. All too often firms jump into buying technology and don't understand the importance of understanding what the technology is for.
What are the requirements? This isn't just about selecting a tool, it's about understanding what tool you need. And without that, invariably there is regret spend.
And there isn't an area where that is more likely to happen than an AI. This is a complex area of technology and we need to understand the process in which we're going to use it. Picking a tool without answering those important questions means that you are simply selecting a tool without any plan.
And as I like to say, a fool with a tool is still a fool. There are hundreds of legal technology vendors, each promising a magic bullet. But it's more than that.
It's not just large investment banks that need to consider law expressed as data. Or to operate better in a digital world. It's law firms, its in-house lawyers.
It's accounting firms, it's PR firms, it is everyone in today's digital era needing to make sure we understand the intersection between legal tech and fintech and technology. Understand your needs and then understand the data that will be required. For there is no AI without data.
And if you haven't considered your data, be it operational data, for example, your client data, or in the practice of law, the data you need in order to give the right answer and next steps to your client. Then simply buying a tool will not result in the right answer. It's super important that you don't just jump to an end result.
It's about understanding the journey. Having the AI strategy is critical. It helps you also understand the question of when to use AI and when not to use AI and to design the right human computer interaction.
The human in the loop around the use of AI. This isn't about man versus machine. It's about man and lawyers being empowered through the use of AI.
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