MAN/WOMAN Versus MACHINE
It has become more apparent in recent years that man is reaching a limit beyond which he cannot compete with machines. It has always been so with mechanical equipment and now machines seem to be able to predict trends and are beating analysts at forecasting. Will the future of stock trading and money markets be managed and controlled by machines?
In 2014, artificial intelligence programs were deployed by the Bank of Japan to quantify huge volumes of data to help predict where the economy was heading. Credit Suisse adopted the intelligence too and said its index is volatile and is only useful in predicting change one or two months out. Although data can be crunched in humongous volumes by machines they may still be years away from replacing man. Our ability to see past the data is what sets us apart.
Within the legal realm, we have software that is relied upon to aid in the process of litigation. eDiscovery software has been dealing with the exchange of electronic information by extracting and sorting data into useful portions of case relevant evidence. Without this software, lawyers would have to scramble through months if not years of data, picking out what they feel to be most relevant to win a case. In this case, the machine extracts and sorts the data but it is ultimately the man who makes the difference.
Today’s real-time economy requires companies to leverage data faster than ever before. While real-time insights aren’t always necessary, the accelerating pace of business is forcing companies to speed time to insights by an order of magnitude or more. At LitSupport, we understand the magnitude and expectations of delivering seamless data as and when required. However, we do wonder whether machines will become intelligent enough to be counted on to make the decisions that at present only humans can make. Some data solutions claim to make it possible to know virtually anything. Of course, the value of information is all about how you apply it. If you do it right that value will be what makes the difference. Information management, in the right hands, could mould and reshape the world we see today into something only a visionary could imagine, just like Michelangelo painted the “Sistine Chapel”.
For now, at LitSupport, we will continue to focus on processing excellence, with a team of highly skilled individuals using the best in class technology because we believe that it is indeed the man that maketh the difference!