Navigating the Future of Law: The Rise of Agentic AI

As the legal landscape evolves, law firms are discovering the transformative power of agentic AI, a category of artificial intelligence that operates with a level of autonomy surpassing traditional systems. This two-part exploration examines how firms can select the right AI partner and prepare for an AI-driven future, which promises to redefine productivity and client service.

What is Agentic AI?

Agentic AI refers to advanced systems capable of reasoning, decision-making, and executing tasks without the need for constant human instruction. Unlike historical AI models that require explicit commands, agentic AI can autonomously analyze situations and choose the best course of action. This flexibility can significantly benefit law firms by:

• Automating Routine Tasks: By offloading mundane duties, such as document review or data entry, attorneys can focus on the more complex aspects of their cases, potentially improving both quality and efficiency.

• Boosting Accuracy: With the ability to analyze large volumes of data swiftly, agentic AI can reduce human error and ensure a higher standard of output, particularly in critical tasks like legal research.

• Increasing Revenues: Enhanced operational efficiency allows firms to either take on more work or adopt fixed-fee arrangements, both of which could lead to increased income.

Preparing for Implementation

Adopting agentic AI is not a simple plug-and-play solution; it requires careful planning and stakeholder involvement. As noted by industry experts, successful firms take a strategic approach to integrate AI into their workflows. Key steps include:

• Mapping Out Objectives: Identify specific areas where agentic AI can effect change and ensure the entire team understands this vision.

• Involving Stakeholders: Collaborate with diverse teams within the firm—such as management, pricing, and innovation—to gather insights and foster a unified strategy.

• Measuring Success: Establish metrics to track performance improvements and return on investment, essential for justifying the technology’s adoption.

Selecting the Right AI Partner

Not all AI vendors are created equal, making it crucial to evaluate potential partners carefully. When considering vendors, law firms should focus on:

• Security Compliance: Ensure that the vendor meets both fundamental and advanced security criteria, such as SoC 2 Type 2 compliance and ISO certifications.

• Long-term Viability: Assess the vendor’s stability and commitment to ongoing support and development. A partner’s longevity can be critical in navigating the complex process of AI integration.

• Scalability: Choose a vendor capable of evolving with the firm’s needs, particularly for large international practices.

• Seamless Integration: The selected technology should fit smoothly within the firm’s existing systems to minimize disruption and maximize effectiveness.

Embracing the AI-Driven Future

For legal professionals, the critical question has shifted from whether to adopt agentic AI to how quickly they can do so. Early adopters are already reaping tangible benefits, making it imperative for others to act swiftly to maintain competitive advantage.

The integration of agentic AI signals a firm’s dedication to innovation and improved client service, positioning them to meet the increasingly sophisticated demands of the legal market. As firms embark on this journey, established players like Thomson Reuters are stepping forward, providing professional-grade AI solutions tailored for legal work.

In summary, the rise of agentic AI represents not just a technological advancement but a pivotal moment in the legal profession—one that could reshape how legal services are delivered and experienced. By strategically embracing this new frontier, firms can better equip themselves for the challenges and opportunities that lie ahead.

Priya Desai

Writes about personal finance, side hustles, gadgets, and tech innovation.

Bio: Priya specializes in making complex financial and tech topics easy to digest, with experience in fintech and consumer reviews.