Artificial Intelligence: Why is Baker McKenzie reinventing the legal sector?
The modernization of the legal sector takes a step forward thanks to the new machine learning tool developed by Baker McKenzie in its Reinvent project
This project is in conjunction with SparkBeyond, and its key objective is to combine the expertise of the legal profession with data and machine learning.
Both firms tested a pilot of this tool and its performance exceeded initial expectations. All efforts are brought together under the Reinvent project, which ensures that the international law firm will be the only one to benefit from SparkBeyond's technology.
Through this joint collaboration it is expected to
- Deliver AI-powered legal services.
Leverage augmented analytics technologies and data science to develop and deliver new services to its clients. Its goal is to deliver machine learning-enabled judgment.
- Increasing awareness of social impact
Amplify social impact initiatives with machine learning-driven research and analytics, eventually using machine learning to scale its pro bono practice in a way that cannot be achieved with human resources alone.
- Internal transformation
Embedding data-driven insights and machine learning across the Firm's legal and business operations as part of its ongoing digital transformation. This will focus on the development and deployment of new models to drive insight, speed and accuracy in Baker McKenzie's machine learning-based decision-making.
This partnership reflects how far Artificial Intelligence has penetrated into the legal sector. Leading law firms do not want to be left behind.
"Our usual view at the time was that this disruption would not happen overnight, but it was coming. We have spent the last five years preparing for the technology to mature. We have laid the infrastructure foundations, such as our enterprise data architecture, and developed our innovation muscle and partner and client engagement through a market-leading design and engagement programme," says Ben Allgrove, Research and Development partner at Baker McKenzie.
In turn, and in the same vein, Baker McKenzie Global Chairman Milton Cheng pegs AI-powered tools as an essential element within the legal sector:
"There is no doubt that artificial intelligence will become an even more essential part of our business in the future and now is the right time to invest in building our capabilities and skills to deploy that technology internally and externally for the benefit of our clients, our business and our communities."