Fortunately, we are facing a strong growth trend in the Legaltech sector in all areas that cover the legal life of organizations.
What began timidly as specific solutions to certain problems, progresses –although with ups and downs- towards a harmonious and more consolidated treatment, which tends to cover needs that so far imply risks and high costs for any company.
Thus, solutions began to emerge for the management of court cases, contracts, law libraries, education, and the list goes on.
Does Artificial Intelligence Replace Man?
A very important contribution is made by Artificial Intelligence; understood as the way to provide, in an area of relative security, quick solutions facilitating the daily work of legal operators.
At Smart Legal we are convinced that Artificial Intelligence is a fundamental tool, but in no way can it supplant human intelligence in decision-making, especially in aspects as delicate as the legal field.
There is no glimpse, at least until now, that Artificial Intelligence can acquire ‘legal criteria’, since this is a matter, precisely, of ‘criteria’, typical of the human. And although there are many developments and experiments around ‘automatic judges’, we consider it improbable that Artificial Intelligence - no matter how trained it may be - allows us to dispense with the threshold of the legal criterion, proper and exclusive to human intelligence. We believe that this is a very difficult hurdle to overcome.
However, this does not imply that Artificial Intelligence cannot be of use; quite the contrary, we understand that it can and should be used in any legal field. Not as a way of dispensing with the human, but as underpinning for correct, effective and timely decision-making.
Regulatory Compliance
Among the entire universe that legal problems present to any human activity, we consider that the aspect of regulatory compliance is fundamental.
The legal structures of any organization are a central pillar for the control and monitoring of regulatory processes. Currently, companies do not have people in charge of assembling, updating and global control of the structure, causing this deficiency great economic losses due to non-compliance with the regulations and deadlines imposed by the legislation.
Currently, the market only addresses a part of the solution, dealing with specific aspects of a certain activity. But they do not address compliance as a whole.
The possibility of integrating Artificial Intelligence into the management systems of any organization allows:
Identify, build a legal matrix and keep it updated, addressing each and every one of the activities of a given company.
Monitor and control the entire command pyramid of the companies.
Use it in all the branches that a company has in any country in the world.
At Smart Legal we develop a tool that addresses regulatory compliance with a comprehensive perspective, for any sector or vertical of a given organization.
From the Complex to the Possible
The biggest challenge in terms of Artificial Intelligence developments lies in the correct analysis and treatment that must be done with natural language. Indeed, Artificial Intelligence developments tend to be less complicated when it handles images. The fact of having to analyze regulations with their characteristic language is more complex, but obviously not impossible.
Our work focuses primarily on this analysis of standards. And we have Artificial Intelligence as a tool to make regulatory compliance more efficient, faster and more complete.
We do not know for sure what may happen tomorrow. The well-known pandemic is a clear example of this. What we are sure of is that regulation, as a State activity, will not cease its trend of growth. And there must be Artificial Intelligence to support human activities.
By Cristian Rússovich, CEO & Co-founder, Smart Legal