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Things I didn't know (no idea how accurate they are, if anyone has more detail, chime in): On the Enron Corpus: "He bought a copy of the database for $10,000
by kalvin 16y ago
Things I didn't know (no idea how accurate they are, if anyone has more detail, chime in):
On the Enron Corpus:
"He bought a copy of the database for $10,000 and made it freely available to academic and corporate researchers. Since then, it has become the foundation of a wealth of new science — and its value has endured, since privacy constraints usually keep large collections of e-mail out of reach. “It’s made a massive difference in the research community,” Dr. McCallum said.
The Enron Corpus has led to a better understanding of how language is used and how social networks function, and it has improved efforts to uncover social groups based on e-mail communication."
On future law employment:
Quantifying the employment impact of these new technologies is difficult. Mike Lynch, the founder of Autonomy, is convinced that “legal is a sector that will likely employ fewer, not more, people in the U.S. in the future.” He estimated that the shift from manual document discovery to e-discovery would lead to a manpower reduction in which one lawyer would suffice for work that once required 500 and that the newest generation of software, which can detect duplicates and find clusters of important documents on a particular topic, could cut the head count by another 50 percent.
The computers seem to be good at their new jobs. Mr. Herr, the former chemical company lawyer, used e-discovery software to reanalyze work his company’s lawyers did in the 1980s and ’90s. His human colleagues had been only 60 percent accurate, he found.
“Think about how much money had been spent to be slightly better than a coin toss,” he said.
- anigbrowl 16y agoIt's mainly accurate. My wife works for a major vendor in this sector, and I'm a pre-law student with a hacking background, knowing more about this technology than I can say here. However, discovery is just one part of the legal industry. Lynch's numbers are exaggerated, though his basic points are correct. Don't generalize too much from this.
- sunchild 16y agoCorrect. This has little to no effect on transaction or corporate practice. Some of these vendors claim to handle M&A due diligence. Having been through one or two mergers/sales myself, I am convinced that no expert system in the near term will be able to replace humans in that area. Unlike discovery, which is focused on a readily-searchable data set like email, the job of piecing together a company's assets and contract obligations is extremely complex business, where the bottleneck is often the mish-mash of paper records and broken contract management tools, and nuanced judgment calls about critical asset dispositions must be made every few hours over the course of months and months. I'm not saying there isn't an obvious, eventual technology solution to these problems – just that it isn't anywhere near as mature as litigation support, discovery, and patent practice.