I recently found myself deep in conversation with a CIO whose passion for technology and knowledge of artificial intelligence was clearly evident (and in abundance!). Over the course of our discussion around AI's potential, a recurring theme emerged – the absolute necessity for robust systems of record, and the need for platforms like ShareDo in this new era of AI.
AI may still feel like some distant future consideration for many of us. But with a steady release of new AI tools, such as Microsoft’s upcoming ‘AI companion’ Copilot, the need to embrace AI, while safeguarding integrity, is upon us right now.
Here’s six high-impact use cases where the power of ShareDo’s modern and adaptive architecture can be combined with AI tools to achieve better results for your law firm.
01: Predictive case analysis
By applying AI Machine Learning techniques to historical case data in ShareDo, patterns and insights emerge to enable you to forecast data points such as risk profiles, reserves or awards or even potentially case outcomes. The importance of having clean and usable data makes a huge difference between being able to use these tools effectively, or not being able to use them at all! ShareDo’s dynamic data model and data quality rules is designed to maximise the timely input of quality data. You can then leverage models such as Azure ML within your workflows or shortly in ShareDo budgets.
02: Data-driven pricing
Using ShareDo as your core business system enables you to understand and interrogate all activities on any given case, alongside the ability to track the cost of every transaction. Being able to mine both case data and billing records enables AI to propose pricing models to your users to effectively balance competitiveness and profitability. This helps remove inconsistent pricing that can impede many firms.
03: Intelligent case connections
Many enterprise law firms only identify a business case for ShareDo in some of their high-volume areas of their business. However, the creation of a central and single point of truth for all of your case and matter data is essential for the AI age. ShareDo's extensive databases, paired with AI, can unearths crucial connections between cases. We are all guilty, in every industry, to a greater or lesser degree of "reinventing the wheel" - intelligent case connections in our opinion might at least prompt you not to.
04. Intelligent client services
How many people have to phone your firm and sift through large amount of information to know what is happening on a case or a transaction? AI assistants will become a staple of internal user portals and external client portals, for both B2B and B2C companies. By integrating ShareDo's case histories with AI assistants these can be used to instantly address client inquiries, boosting satisfaction while reducing administrative burdens and unnecessary internal or external interactions.
05: Optimising business processes
Continuous process improvement varies significantly across the industry, and many firms implementing core operational systems such as ShareDo struggle to find the time to go back and keep their systems fed and watered. Combining ShareDo’s process data with AI spotlights process or underperforming cases that are ripe for automation or intervention. This accelerates operational improvements and enables firms to increase profitability across work-types.
06: Client and employee
Imagine if you had an early warning system where you could understand if the overall frustration or satisfaction level was changing with your employees or clients. Being able to understand the changes in communication sentiment acts as a significant early warning indicator; enabling you to take appropriate interventions and ultimately prevent churn.
These six use cases represent only a fraction of the system-wide and everyday benefits of combining a legal case management platform like ShareDo with AI. Having a modern and adaptive system of record at the heart of your business will enable you to harness the power of AI. Without this, you’re extracting siloed data or modelling your AI over data that is fragmented and, therefore, ultimately flawed.
To find more on how you can make AI work for your firm, book a demo with one of our experts today to see how we can help accelerate your firm’s AI journey.