It’s been well established that the advent of artificial intelligence (AI) is fundamentally changing all industries, even those that were once thought to be unlikely to evolve. Some industries are being completely upended, while others are only just getting started by testing the waters with what AI can really do.
Above all, AI is at its best when it enables the automation of formerly manual tasks. For the legal sector, the true value of AI technology comes in allowing legal professionals to work smarter, not harder. By leaving repetitive tasks to the machines, AI frees up time to focus on critical tasks that generate more revenue and require a high level of human expertise.
In particular, legal transcription has come a long way from the totally manual processes that were once the industry norm. Developments in AI speech-to-text technology are being applied to the field to elevate this process to new heights.
Here are the top 5 benefits organizations will gain from AI transcription:
1. Save time
Legal professionals know firsthand how valuable time is and, as a result, are constantly searching for ways to increase efficiency. Leveraging an AI-powered transcription solution automates the majority of this notoriously tedious process to enable far superior turnaround times, compared to the manual method. This puts crucial documents in the hands of professionals faster, to maximize productivity.
2. Reduce costs
Using an AI-backed transcription solution, organizations can save money by eliminating the need to outsource transcription services. Put simply, it’s cheaper to use machines for rote tasks. It also enables professionals to spend more time on more lucrative tasks that contribute far more to the bottom line.
3. 99% accuracy
The legal industry requires the highest level of transcription quality, as these crucial documents often have the power to make or break a case. The secret to precision lies in the technology itself. The most advanced solutions will train their speech-to-text engines with specific legal terms, so that these words will be recognized and transcribed correctly. The highly accurate technical output is further supervised by qualified professionals. This three-step process ensures near-perfect precision.
A tech-based solution offers organizations more opportunities for customization to suit their exact needs. A robust platform will be compatible with a variety of file types, and include various on-demand templates, allowing firms to immediately download their completed documents in formats that comply with statutory requirements. In addition, a web-based platform can be accessed anytime, regardless of traditional business hours or time differences, while offering an intuitive user interface.
Security is a top priority when it comes to sensitive legal information. A smart transcription system will ensure that access to files is restricted solely to those with appropriate permissions that are controlled by the administrators. An advanced AI solution will apply algorithms to monitor activity and further guarantee confidentiality. In addition, hard copies have the potential to be tampered with or even go missing, situations that are far less likely to occur when using digital files.
Although AI has its clear advantages, the human factor remains a crucial element in the legal field that is unlikely to be eliminated any time soon. When it comes to transcription, a solution that incorporates the best of both worlds is ideally suited to meet stringent requirements. Automation through AI covers the need for speed and keeps costs low, while human supervision of speech-to-text output ensures absolute accuracy.
As the legal domain sheds its formerly traditionalist identity and moves toward greater adoption of cutting-edge technology, AI is poised to make a big impact. Transcription represents the ideal opportunity for companies looking to implement more advanced tech to take the leap and optimize their operations.