Simple automations can be even more beneficial than advanced artificial intelligence, especially in small- and midsize law firms.
Here is today’s good news: the next financial crisis seems just around the corner. Nouriel Roubini, who earned the nickname Mr Doom when he foresaw the last one, predicts it to come in 2020 and the latest update from Intensity estimates that there is 99.9% probability that a recession will happen within the next two years. With an ongoing US-China trade war and a British exit from the European Union in the pipeline, it is hard to Legal Tech Weekly to do anything about that. However, a global recession is not the only thing to fear.
The AI bubble
An article published in Legal Tech weekly explores the descrepancy between the enormous expectetions of what artificial intelligence (AI) claims to deliver and what it actually can deliver. According to the article’s author, Mikkel Boris, it seems that 40% of Europe’s artificial intelligence start-ups lack the AI they were pretending to have.
Autto founder Max Cole weighed in with a few home truthes:
“Improving efficiency and productivity with automation does not require artificial intelligence. Autto’s software platform uses simple automation to help businesses improve their processes where it is not economical to build heavy-duty RPA API-solutions or train artificial intelligences. With Autto’s tool, law firms and legal counsels can build their own automated processes with configurable building blocks that can be stacked upon each other to create unique workflows.”