Increasing revenue while cutting down on billable hours? ‘AI for Lawyers’ says it’s possible

As the founders of a company that provides AI-powered contract analysis software, Kira Systems’ Noah Waisberg and Dr. Alexander Hudek are used to facing skepticism, fear and doubt from attorneys. Will AI steal their jobs? Would using it violate ethics rules? How can it be good for a business model that relies on the billable hour to cut down on the amount of time it takes to review a contract?

In their new book, AI for Lawyers: How Artificial Intelligence is Adding Value, Amplifying Expertise, and Transforming Careers, Waisberg and Hudek attempt to answer these questions and provide an accessible guide for firms considering how AI might add to their practices. They also pulled in other minds in the legal tech community to speak to the use of AI beyond the kinds of contract review Kira Systems focuses on, such as in litigation analytics, legal research and e-discovery.

In this episode of the Modern Law Library, Waisberg and Hudek discuss their experiences as early proponents of artificial intelligence, the unique programming challenges presented by legal language, the still-developing ethical debates and common misconceptions about AI.