New AI technologies are being developed and launched daily. Models like Open AI’s Chat GPT has everyone wondering how they can leverage the power of AI to simplify their life or improve their productivity. Lawyers are no exception. Law firms worldwide are beginning to realize the potential of data analytics and AI but aren’t sure how to implement these processes into their current practice to enhance clients’ experiences and increase profitability.
Truve founding member Jay Sarmaz was recently interviewed by UniCourt and discussed how the legal industry can harness the power of AI to take operations to the next level. Sarmaz has worked for years building cutting-edge data science models and technologies similar to Chat GPT. Recently, however, he turned his attention to the legal field and began to see the potential uses of AI for law firms to unlock value from their data. Enter Truve.
In today’s legal environment, firms must use multiple platforms to run their business, which is time-consuming, costly, and cumbersome. The average law firm is likely using a CMS, a CRM, an accounting system, social media, Google Ads, Google Analytics, Call Tracking, Zoom, HR technologies, and Microsoft Office applications. All of these systems are rich sources of data that can be used to drive growth and improve organizational performance. Truve, the AI-Powered data platform, simplifies this process. Acting as a “control tower,” Truve accesses and organizes data from those different technology systems and provides end-to-end analytics. No more trying to connect the dots across multiple platforms. Truve provides all the information you need in one dashboard.
In the future, you can be certain that AI and data science will impact the way law firms do business. By analyzing data from various sources, law firms will be able to understand their clients and operations better. This data can help them to identify trends, predict outcomes, and make more informed decisions. Through the use of automation, law firms can reduce the time spent on mundane tasks, such as document review, contract analysis, and legal research. Predictive analytics can help predict case outcomes and settlement amounts.
In the interview with UniCourt, Sarmaz also discusses his professional background and predictions on how AI will continue to shape how law firms and legal departments work. He says, “Law firms that adapt to the change will be the ones that will survive in the long term.” You can read the full interview with Sarmaz here.
