세계의 법무 AI 소프트웨어 시장은 2022년에 5억 달러에 달하며, 2023-2030년의 예측 기간 중 CAGR 28.7%로 성장하며, 2030년에는 37억 달러에 달할 것으로 예측되고 있습니다.
법률 문서, 계약서, 판례, 규제 문서는 법률 부서에서 생성되는 수많은 유형의 데이터 중 일부에 불과하며, 이러한 데이터는 법률 AI 소프트웨어가 효율적으로 처리하고 분석할 수 있으므로 로펌과 법무 부서에 유용한 툴이 될 수 있습니다. 법률 AI 소프트웨어는 계약서 검토, 법률 조사 등 수작업으로 시간이 많이 소요되는 많은 작업을 자동화하여 법무 담당자의 효율성을 높이고 비용을 크게 절감할 수 있습니다.
예를 들어 2023년 4월 25일, 법무 프로세스 자동화의 선두주자인 Luminance는 Nexa Law의 브랜드인 NexaConnex와 제휴하여 Luminance의 AI 기술을 NexaConnex의 법률 서비스에 통합했습니다. 다양한 분야의 중견 로펌을 지원하는 영국에서 급성장하고 있는 법률 서비스 프로바이더입니다. 이번 파트너십은 넥사코넥스가 한 로펌 고객사에 루미넌스의 AI를 활용해 복잡하고 시간적 제약이 많은 공시 업무의 효율화를 통해 상당한 시간 단축을 실현한 것이 계기가 되었습니다.
아시아태평양은 세계 법률 AI 소프트웨어 시장의 2/5 이상을 차지하는 성장 지역 중 하나로, 경제 성장과 국경을 초월한 비즈니스 활동 증가로 인해 계약 관리, 실사, 컴플라이언스 등 법률 업무량이 증가함에 따라 이러한 프로세스를 간소화하는 AI 솔루션에 대한 수요가 증가하고 있습니다.을 간소화할 수 있는 AI 솔루션에 대한 수요가 증가하고 있습니다.
정형 업무와 프로세스를 자동화하면 법률 전문가들이 법률 분석과 전략 수립 등 보다 가치 있는 업무에 집중할 수 있으며, 로펌과 법무 부서의 효율성과 생산성을 향상시킬 수 있습니다. 자동화를 통해 문서 검토, 계약 분석, 법률 조사 등의 업무에서 수작업의 필요성을 최소화할 수 있으므로 업무 비용 절감으로 이어져 예산 최적화를 추구하는 법무 조직에 매력적입니다.
세계스케이프(GlobalSCAPE, Inc.)와 포네몬(Ponemon)의 조사에 따르면 데이터 프라이버시 규제를 무시할 경우 발생하는 비용이 최근 몇년사이 크게 증가했습니다. 조직에서 컴플라이언스를 위반하는 데 드는 연간 평균 비용은 1,482만 달러로, 컴플라이언스를 준수하는 것보다 2.71배 더 높은 것으로 나타났습니다. 각 산업이 취급하는 기밀정보의 양이 컴플라이언스 비용의 차이에 영향을 미치고 있으며, 언론사의 경우 연간 평균 770만 달러, 금융 서비스 기업의 경우 3,090만 달러가 넘습니다.
법률 사건과 문제가 점점 더 복잡해지면서 다분야의 전문 지식이 요구되고 있습니다. 현재 많은 로펌과 법무 부서는 세계 규모로 운영되고 있으며, 여러 관할권에서 고객에게 서비스를 제공하고 사건을 관리하고 있습니다. 협업 툴은 서로 기타 지역에 위치한 팀 간의 소통과 정보 공유를 촉진하여 국경을 초월한 효율적인 업무 수행을 돕습니다.
예를 들어 2022년 10월 19일 Siskind Susser, P.C.는 법률 소프트웨어 회사와 제휴하여 이민 절차를 지원하기 위한 새로운 클라우드 기반 AI 사례 관리 기술을 발표했습니다. Siskind Susser, P.C.의 변호사와 혁신 전문가들이 설립한 Visalaw.Ai는 법률 기술 및 데이터 회사인 Fastcase와 협력 계약을 체결하여 NextChapter가 최첨단 이민법 사례 관리 및 문서 자동화 시스템을 개발할 수 있도록 지원하기로 했습니다. 시스템 개발을 지원합니다.
법률 분야의 AI 소프트웨어는 머신러닝 알고리즘의 발전으로 혜택을 받고 있으며, 이러한 알고리즘은 방대한 유형의 법률 사건, 계약서 및 기타 문서 데이터 세트에서 학습하고 예측하여 변호사의 업무를 지원합니다. 법률 AI 소프트웨어는 빅데이터 분석의 힘을 활용하여 법률 문서와 사건 기록의 패턴, 추세 및 인사이트을 파악할 수 있으며, 이 기술은 변호사가 데이터베이스 의사결정을 내리는 데 도움이 됩니다.
예를 들어 2023년 8월 9일, 기술 고객 중심 국제 로펌인 갠더슨 데트머(Gunderson Detmer)는 자체적으로 개발한 AI 채팅 앱 'ChatGD'를 발표했습니다.를 통해 문서를 안전하게 조회하고 조작할 수 있는 AI 용도입니다.
법무 AI는 아직 복잡한 법률 업무를 완전히 자동화할 수 있는 것은 아닙니다. 문서 검토, 법률 조사, 계약 분석을 지원할 수 있지만, 특히 새로운 법률 문제가 포함된 사건에서는 인간의 감시와 판단이 필수적입니다. 법률 AI의 학습에 사용되는 데이터의 질과 양은 매우 중요합니다. 학습 데이터가 편향되거나 부족하거나 오래된 데이터는 부정확하거나 편향된 결과를 초래할 수 있습니다.
법률 AI는 법적 의사결정에 중요한 법률 문서와 사건의 광범위한 맥락과 뉘앙스를 이해하는 데 어려움을 겪을 수 있으며, AI는 인간 변호사의 창의성과 직관력이 부족하기 때문에 창의적인 문제 해결과 전략적 법적 사고가 필요한 업무에는 효과적이지 않을 수 있습니다. 법률 분야에서 AI의 사용은 특히 프라이버시, 편견, 투명성에 대한 윤리적 문제를 야기할 수 있으며, AI의 알고리즘은 과거 법률 데이터에 존재하는 편견을 부주의하게 영속화할 수 있습니다.
Global Legal AI Software Market reached US$ 0.5 billion in 2022 and is expected to reach US$ 3.7 billion by 2030, growing with a CAGR of 28.7% during the forecast period 2023-2030.
Legal documents, contracts, case law and regulatory documents are merely a few of the numerous kinds of data that the legal sector produces and this data can be processed and analyzed by legal AI software effectively, making it a useful tool for law offices and legal departments. Legal AI software automates many manual and time-consuming tasks, such as contract review and legal research and this leads to increased efficiency and significant cost savings for legal professionals.
For instance, on 25 April 2023, Luminance, a leader in legal process automation, partnered with NexaConnex, a brand of Nexa Law, to integrate Luminance's AI technology into the NexaConnex legal service offering. NexaConnex, a fast-growing legal services provider in UK, supports mid-market law firms in various sectors. The partnership was initiated when NexaConnex used Luminance's AI to streamline a complex and time-sensitive disclosure exercise for one of its law firm clients, resulting in significant time savings.
Asia-Pacific is among the growing regions in the global Legal AI Software market covering more than 2/5th of the market and the region is experiencing significant economic growth and increased cross-border business activities and this has led to a higher volume of legal work, including contract management, due diligence and compliance, driving the demand for AI solutions to streamline these processes.
Automation of routine tasks and processes allows legal professionals to focus on higher-value tasks, such as legal analysis and strategy development and this leads to increased efficiency and productivity within law firms and legal departments. Automation helps reduce operational costs by minimizing the need for manual labor in tasks like document review, contract analysis and legal research, this cost reduction is appealing to legal organizations seeking to optimize their budgets.
According to GlobalSCAPE, Inc. and Ponemon studies the cost of disregarding data privacy regulations has significantly increased in recent years. Average annual expenditures for non-compliance for organizations are US$ 14.82 million, which is 2.71 times more expensive than keeping compliance. The amount of sensitive or confidential information handled by each industry affects the differences in compliance costs that range from US$ 7.7 million on average annually for media organizations to over US$ 30.9 million for financial services companies.
Legal cases and issues are becoming more complex, requiring multidisciplinary expertise. Many law firms and legal departments now operate on a global scale, serving clients and managing cases in multiple jurisdictions. Collaboration tools facilitate communication and information sharing among teams located in different regions, helping them work efficiently across borders.
For instance, on 19 October 2022, Siskind Susser, P.C. is partnering with a legal software company to launch a new cloud-based AI case management technology aimed at aiding immigration processes. Visalaw.Ai, founded by lawyers and innovation professionals at the immigration law firm Siskind Susser, P.C., has entered into a collaboration agreement with Fastcase, a legal technology and data company, to assist its NextChapter company in developing a state-of-the-art immigration case management and document automation system.
AI software in the legal field benefits from advancements in machine learning algorithms and these algorithms learn from vast varieties of datasets of legal cases, contracts and other documents to make predictions and assist lawyers in their work. Legal AI software can harness the power of big data analytics to uncover patterns, trends and insights within legal documents and case histories, this technology helps lawyers make data-driven decisions.
For instance, on 9 August 2023, Gunderson Dettmer, an international law firm with a focus on technology clients launched its proprietary internal generative AI chat app called ChatGD and this move makes Gunderson Dettmer the first US-based firm to develop an internal tool using generative AI technology. ChatGD is an AI application that allows attorneys to query and manipulate documents securely using OpenAI's models through Microsoft Azure.
Legal AI is not yet capable of completely automating complex legal tasks. It can assist with document review, legal research and contract analysis, but human oversight and judgment are still essential, particularly in cases involving novel legal issues. The quality and quantity of the data used to train legal AI are extremely important. Results may be inaccurate or prejudiced if the training data is biased lacking or out of date.
Legal AI may struggle with understanding the broader context or nuances of legal documents and cases, which are often critical in legal decision-making. AI lacks the creativity and intuition that human lawyers possess, making it less effective in tasks requiring creative problem-solving or strategic legal thinking. The use of AI in the legal field raises ethical concerns, especially regarding privacy, bias and transparency. AI algorithms may inadvertently perpetuate biases present in historical legal data.
The global legal AI software market is segmented based on component, deployment type, application, end-user and region.
As laws and regulations become more intricate, legal professionals require advanced tools to manage and interpret vast volumes of legal information efficiently. Legal AI software provides the means to process this complexity. Legal AI can automate routine and time-consuming tasks, such as document review and contract analysis and this automation reduces operational costs and allows legal professionals to focus on higher-value tasks.
For instance, on 8 May 2023, Law Bot Pro is a groundbreaking app developed by a law student, Mandaar Mukesh Giri, aimed at providing easy and accessible legal information to the public. The app features an intelligent chatbot that answers legal questions in plain language, making legal knowledge more understandable. The app's chatbot is designed to simplify legal information, making it accessible to individuals with varying levels of legal knowledge.
North America is dominating the global Legal AI Software market and the region has a vast and complex legal landscape, with a high volume of legal cases, contracts and regulatory compliance requirements. Legal AI software helps law firms and legal departments manage this workload more efficiently. Law firms in North America are under pressure to reduce costs while maintaining the quality of their legal services. Legal AI solutions automate repetitive tasks, allowing legal professionals to focus on higher-value work.
For instance, on 21 June 2023, Aderant, a provider of legal business management solutions, introduced MADDI, an AI-powered virtual associate designed to automate routine tasks and provide actionable insights in the legal industry. MADDI is pre-trained on Aderant applications, making it easier for law firms to adopt and ensuring quick time-to-value. MADDI's continuous learning capabilities are expected to drive firm-wide growth and optimization.
The major global players in the market include: International Business Machines, Thomson Reuters Corporation Reuters Corporation, Open Text Corporation India Private Limited, Neota Logic Inc., Cognitiv+, Casetext, Inc., Klarity Intelligence, Inc., CaseMine, Kira Inc. and Reed Elsevier Inc..
The pandemic forced law firms and legal departments to expedite their digital transformation efforts. Remote work and the need for efficient, accessible legal services led to a greater adoption of AI-powered legal solutions. Legal professionals needed tools that could facilitate remote collaboration, document sharing and secure communication. Legal AI software with collaboration features became essential.
The pandemic generated an increase in legal workloads due to contract disputes, regulatory changes and legal issues related to the crisis. Legal AI software helped manage these additional demands. Many businesses faced financial challenges during the pandemic, making cost control a priority. Legal AI software helped reduce legal operational costs through automation. Legal AI tools ensured the continuity of legal services, enabling lawyers to work on cases and projects despite lockdowns and disruptions.
The pandemic emphasized the importance of data privacy and security as remote work increased the vulnerability of sensitive legal information. Legal AI solutions had to enhance security measures. Legal AI software had to adapt to changing legal needs, such as handling force majeure clauses in contracts or addressing new regulatory requirements related to the pandemic.
AI-powered legal software can automate time-consuming tasks like document review, legal research and contract analysis and this significantly reduces the time and effort required for these activities, allowing legal professionals to focus on more strategic and value-added tasks. Automation of legal processes leads to cost savings for law firms and legal departments. AI leads to perform tasks 24/7 without the need for breaks or overtime, making it a cost-effective solution.
AI algorithms analyze a large volume of legal data with a high degree of accuracy and this reduces the risk of errors and ensures that legal documents and contracts are reviewed thoroughly. AI can extract valuable insights from legal data, helping lawyers and organizations make informed decisions. It can identify patterns, trends and anomalies in legal documents, which can be crucial in litigation, compliance and risk management.
For instance, on 7 September 2023, Microsoft introduced a Copilot Copyright Commitment to address concerns raised by customers regarding potential intellectual property (IP) infringement claims when using its AI-powered Copilot services and this commitment assures customers that they can use Microsoft's Copilot services and the generated output without worrying about copyright claims.
The conflict may lead to increased geopolitical uncertainty, affecting international business transactions and trade agreements. Legal AI software can quickly adapt to changing regulations and trade policies will be in higher demand. The war may result in contractual disputes, invoking force majeure clauses and necessitating legal review and arbitration. Legal AI tools capable of analyzing force majeure clauses and providing relevant case law and guidance will be valuable.
As sanctions and export control regulations evolve organizations will need Legal AI software to ensure compliance and these tools can help in identifying sanctioned entities, tracking regulatory changes and managing compliance risks. Companies operating in affected regions may face intellectual property challenges. Legal AI solutions that assist in patent, trademark and copyright protection will be crucial.
The global legal AI software market report would provide approximately 69 tables, 66 figures and 190 Pages.
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