Korva is a scroll of the internet’s best ideas.
$100 million lawsuits still need people
Where people stay in the room
Auditing works the same way. Companies know AI will do an amazing job, and at some point they still want the auditor in the room, someone who knows what they're doing and hasn't left the whole thing to AI.
The human as interface
In industries where the relationship matters, someone vertically knowledgeable and relevant can sell better than anyone, especially to people like themselves. In bigger-ticket items such as insurance, a human who gets it still has a place as the interface, while the grunt work behind the scenes is what goes away.
Work never worth a lawyer
For things that were never worth the price of a lawyer, AI now brings real benefits, which expands the time available to the service industry.
Why must a human sign an audit?
In the US, an audit of a public company must be performed by a registered accounting firm and signed by a licensed certified public accountant who takes legal responsibility for the opinion. The Sarbanes-Oxley Act of 2002 created the Public Company Accounting Oversight Board to inspect those firms after the Enron and WorldCom scandals. The board began operating in 2003.
How has software already changed legal work?
Document review in big cases once meant armies of junior lawyers reading boxes of paper. In 2012, Magistrate Judge Andrew Peck approved the use of predictive coding in Da Silva Moore v. Publicis Groupe, a method in which software learns from lawyers' labels which documents matter. His ruling is widely cited as the first approval of predictive coding by a US federal court.
Why does cheaper efficiency increase demand?
Economist William Stanley Jevons observed in 1865, in The Coal Question, that more efficient steam engines led Britain to use more coal, not less. Cheaper use opens up new uses that were not worth the cost before. The pattern, now called the Jevons paradox, has been described for lighting, computing, and transportation.
More from 20VC with Harry Stebbings
