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Hyeum Consortium Announces Infographic on AI Legal Service Usage

Created: 2024-05-09

Created: 2024-05-09 11:13

Expect AI legal services to assist with the roles of experts in law, labor, and tax.

With the national core task of AI becoming commonplace, the introduction of AI into specialized fields such as law, medicine, media, counseling, and research is becoming a hot topic. The Hyeum Consortium, which is promoting AI legal secretary services, has released an infographic on the status of AI adoption in law for businesses.

The Hyeum Consortium conducted a survey of 5,783 businesses over a two-week period from April 17th to April 30th. The average business lifespan of SMEs participating in this survey was 3.1 years, with startups (33%) ranking first, followed by manufacturing (14%), online shopping malls (7%), food service (4%), and hospitals/clinics (1%).

Current Status of AI Service Usage by SMEs

According to the Hyeum Consortium's survey on SMEs' experience with AI services, 70% of SMEs responded that they have experience using AI services. This is slightly higher than the national goal of 60% for AI service experience rate in 2024. Among these, the most widely used service was Chat GPT (36.7%), followed by Google Gemini (7.1%), Claude (3.1%), and Notion (2.0%). The satisfaction level of AI users who have experienced AI was very high, at around 90 points. According to government surveys, the AI service adoption rate for domestic companies is 30%, and the national goal for 2024 is 40%.

Current Status of Legal AI Service Adoption by SMEs

In the case of legal services, both the experience rate and adoption rate were very low at 10%. This is significantly lower than the national goal of 60% for AI service experience rate and 40% for adoption rate in 2024.

Requirements for Legal AI Services from SMEs

Meanwhile, the results of a survey on the actual demand for legal support services among SMEs showed that there was a high demand for contract analysis and management, followed by legal reviews related to tax laws, such as tax reduction analysis and tax saving measures.

① Contract Analysis and Management (25%)

  • Review and summarize clauses that differ from existing contracts, review contracts from other companies and analyze pros and cons, detect and warn about unfair clauses

② Subsidies, Refunds, and Financial Support Based on Laws (22%)

  • Automatic analysis and application support for tax reduction benefits by business category, automated tax filing and provision of tax saving solutions

③ Legal Advice and Consultation (19%)

  • Providing necessary legal advice for each case, contract inquiries tailored to each case, automated responses to frequently asked legal questions, and providing real-time legal reviews and light legal reviews.

④ Drafting and Reviewing Legal Documents (12%)

  • Drafting and reviewing conditions related to copyright and employment contracts, translating and reviewing English contracts, assisting in drafting litigation briefs, and providing document editing support with a function to prevent modification of important clauses.

⑤ Other Additional Legal Services

  • Reviewing differences by contract type, providing precedents and guidance on how to respond in case of disputes, predicting the probability of winning a case and matching lawyers, and providing a program to avoid misleading advertisements.

The Hyeum Consortium was formed to realize AI-powered legal support services. To develop AI, it comprises AI participating organizations including Hyeum Labs, KIST, Friendly AI, Lattice, Cloudworks, and SK C&C, and participating organizations in various fields to promote the effective dissemination of services to SMEs, including large and mid-sized companies (SK C&C, U-bcare, Business On), law firms specializing in law/tax/labor/patent (Law Firm Hyun and 7 other companies), and leading B2B SaaS companies (Korea Credit Rating Data, Business On, etc.).

The principal organization, Hyeum Labs, stated that it aims to increase the experience rate and adoption rate of legal AI services for SMEs and create effective AI legal support services for SME CEOs to support the government's policy of making AI commonplace for all citizens.

Introduction of Hyeum Labs

Hyeum Labs is developing an AI-based financial secretary service that can provide assistance to business owners, including finance and tax, by creating a financial secretary service used by 1 million business owners. Founded in 2017, Hyeum Labs was selected as a pre-unicorn in 2022 and a super-gap startup in 2024. It has received Series A investment from leading investment firms such as Korea Investment Partners and Stonebridge Ventures, and based on this, it is striving to create a financial secretary used by 1 million business owners by 2028. Its headquarters is located in Teheran-ro, Seoul.

Hyeum Labs: http://www.heumlabs.io

Website: https://heumlabs.io

Contact
Hyeum Labs
Marketing
Yuso Min

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