The Value of an AI Chatbot in the Legal Industry

Advanced technologies and artificial intelligence (AI) have certainly changed the way businesses operate. And those in the legal industry are no exception.

Thanks to machine learning and natural language processing (NLP), AI chatbots - or virtual legal assistants (VLAs) - have become more and more popular among general counsels (GCs) and legal teams. That is because their use can add significant value to legal departments: they help with high-effort, low-impact tasks and allow lawyers to focus on more important ones. The global chatbot market, as a result, is expected to see a compound annual growth rate (CAGR) of 24 percent between 2018 and 2022.