AI within Document Management Systems (DMS): three points to really watch out for

Fear Of Missing Out

FOMO: that stands for Fear Of Missing Out. In short: the fear of missing out on something, and that is exactly what we see happening around AI right now. While there’s reason to be optimistic about these developments, there’s also growing concern about the potential impact on the legal job market. And exactly that creates uncertainty and emotions. This uncertainty causes firms to accelerate from emotion and therefore make unwarranted choices. In the coming blogs, we will go deeper into AI within a DMS, so that you have the background and basic knowledge to take the first steps thoughtfully.

Three critical components of AI within a DMS

Talking about AI within a DMS, we identify three crucial components, which we discuss in more detail below. It is important to consider these points when researching and selecting AI tools within your office and even more specifically, within your DMS. In addition, you’ll find some practical applications of AI within a DMS and we explain how to avoid ‘hallucinating’.

  • Location and management of data
  • Privacy and permissions
  • Tools to manage and control costs and capabilities

Data: location and management

An essential aspect of AI within a DMS is the location of your data. Where is all the information stored, and how is it managed? It is important to ensure that your data is secure and accessible, without compromising its integrity. Many offices use external AI tools, which means data is often scattered across different platforms. This requires a thoughtful strategy to ensure that information remains reliable and secure.

Privacy and permissions

Privacy and permissions are important elements when integrating AI into a DMS. It is essential to ensure that only authorized individuals have access to sensitive information. This not only helps protect confidential information, but also helps ensure compliance with regulations such as the AVG/GDPR. A well-managed permissions system ensures that the right people have access to the right information at the right time, without unnecessary risk.

Costs and opportunities

There are currently 14,500 AI startups, which means an immense range of apps and tools. And yes, all of this comes at a cost. Managing costs and exploring opportunities are important considerations when implementing AI in a DMS. AI helps in understanding cost structures and optimizing resource utilization. For example, using AI to automatically categorize and archive documents can reduce costs and increase efficiency. On the other hand, AI comes with costs, such as licensing fees, data storage costs and processing costs.

When considering AI solutions, cost considerations must be carefully considered. AI platforms vary in price and functionality. It is important to strike a balance between cost efficiency and quality. Making smart choices in AI solutions will ensure that your office is well positioned for the future.

Assistant for legal professionals

AI is like a co-pilot for legal professionals by providing support for day-to-day tasks within a DMS. These range from generating summaries and translations to performing advanced legal analysis. By integrating AI into your DMS, legal professionals can quickly access the right information and make thoughtful decisions.

Practical examples of implementing AI within your DMS

  • Document search: an AI that searches through documents within your DMS and identifies relevant evidence in a fraction of the time it takes a human. This leads to significant time savings and faster case completion.
  • Drafting documents: an AI that drafts legal documents based on your instructions using a supply-and-demand game, saving valuable time spent on more complex, challenging tasks.
  • Gain insights: an AI that gains insights from legal documents and data, helping you make better decisions.

In another article, you’ll read all about AI within Epona’s DMS, what do we do differently. In it, we also address the three different components as mentioned in this article, and explain Epona’s role in it.

Whitepaper “Artificial Intelligence & Document Management Systems”

This article is part of the “Artificial Intelligence & Document Management Systems” campaign, in which we address the opportunities and challenges for legal professionals. This campaign also includes a whitepaper. In this whitepaper, we discuss the benefits and challenges of Artificial Intelligence (AI) for document management within the legal sector. We explore how AI is being used to automate tasks and gain valuable insights into office operations. We also cover the legal impact of AI and provide guidance on how to deal with these aspects. Packed with practical tips, of course!