Artificial intelligence provides services to help attorneys ensure compliance
A number of industries have started to implement artificial intelligence (AI) technology, and so far, it has been working wonders for them. One of them has been iGaming, and now its legal sector has been starting to take advantage of the great benefits that AI is able to provide. Legal departments are now able to improve services and increase their productivity through this efficient technology.
While it is true that AI in the legal sector is still in its infancy, there are already repetitive, low-value tasks that have begun to be optimized through its application, and it helps associates simplify the mundane and time-consuming responsibilities of the legal practice. It is no secret that the iGaming industry has a need to always be equipped with a good legal team for drafting terms and conditions, responding to legal requests, dealing with contracts, and much more. Giving this team an extra tool is not a bad idea, and what better way to do it than through AI.
One of the main areas where AI can be used in legal practice is when conducting any type of investigation. This task is usually very time-consuming and becomes a rather tedious process. Searching for applicable case law can often result in thousands of case results, but through the algorithms used by AI, this can be done accurately and quickly. The more a lawyer can focus his or her search, the more efficiently the AI can tailor those results, which makes the amount of documentation to be reviewed less.
Contract management is undoubtedly an essential task; however, it also requires a good amount of time, which requires a solid and robust contract management system. With the help of AI, you can automate efficient methods of organizing, drafting, and reviewing basic contracts, as well as checking for errors or other terms or clauses that have not been included.
Finally, AI provides the opportunity for gaming operators to address the compliance and administration process using intelligent measurement tools to increase efficiency and reduce overhead. With this, the tracking and billing of overdue payments become an automated process; thus, record-keeping is updated in minutes, not hours.