Laws resemble computer programs in many ways, so I suppose it is only natural that computers be made to interpret them.
JPMorgan Software Does in Seconds What Took Lawyers Many Hours
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Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#32Laws resemble computer programs in many ways, so I suppose it is only natural that computers be made to interpret them.
Some of my friends who are now lawyers were really bad at math in high-school, so I'm not sure that equating law to computer programs is how it works in practice.
Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#33So far I've had to:
- Fill out an online credit application form, which among other things ask me what year I started my last job and converted that to "years and months" but was off by one since it appeared to be doing math as if the current year is 2016. That was at one particular web site.
- On another web site, I was then able to e-sign about a dozen documents. However, about half a dozen documents I had to print out, sign, scan, then upload to a third web site.
- One of the forms had an error, so I received an email from a mortgage officer that read "You've received an encrypted message from XXX@financeofamerica.com. To view your message Save and open the attachment (message.html), and follow the instructions. Sign in using the following email address: me@example.org". This comically required me to register with live.com so that I could read the actual email and reply with a corrected version of the form via an outlook web interface.
- Yet another mortgage officer contacted me for additional forms, these were sent as PDF attachments that I had to print, sign, scan, and email back (over regular email this time) as further attachments.
- There is no online site I can use to track the progress of things. I just have to call or email periodically.
- The forms as you might imagine are a mix of ancient government mandated forms and sundry other requests that are from the loan company's underwriting department.
On a semi-related note, I also just rolled over a 401(k) which was also unable to be done electronically. The old 401(k) institution overnighted me a check which I had to combine with a form I printed out from the new 401(k) institution, then I had to overnight those to the new institution. 3+ days of lost market gains.
Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#34You've likely heard the quote that "every company is a technology company", mostly used in the context of companies needing to be doing everything they can to leverage and exploit new technology, or they'll be left in the dust by more proactive competitors. With that in mind, a key quote for me in the article was this: >To help spur internal disruption, the company keeps tabs on 2,000 technology ventures, using about…
You have just described my role. We're calling ourselves Emerging Technology Specialists for the time being.
Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#35My belief is that we won't have (real) self-driving cars until long after we've automated lawyers -- legal work being a much more constrained, simpler problem without too much potential to kill people.
Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#36Capital and its holders are getting more and more naked in their attempt to save costs. Individually, this is great -- spurring automation forward certainly frees people up. In aggregate, however, if political/social factors aren't taken into account with automation, there will be a spate of people who think they will have been robbed of their rightful earnings and their purpose in life -- and that will have consequences, intended and unintended.
Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#37Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#38Earlier quoted context omitted.
> That's efficiency. When there are billions of transactions occurring every day, of course a small error rate will reflect itself on a large number of false positives. Yes, coupled with excellent customer service that sounds like a good plan. Unfortunately your employer seems to have decided that customer service is something they can't afford.
definitely google is not known for super good customer service, I will give you that.
Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#39Finally an article about self-driving lawyers. My belief is that we won't have (real) self-driving cars until long after we've automated lawyers -- legal work being a much more constrained, simpler problem without too much potential to kill people.
Of course, discovery and a lot of the repetitive work can be automated much more easily, but that's more like keeping the car in a highway lane, which we can already do for cars.
Re: JPMorgan Software Does in Seconds What Took Lawyers Many Hours
#40Meanwhile I'm going through a mortgage refi and the mix of old and new technology is comical. I was hoping things had advanced since I last went through this a decade ago but not so much. This is through eRates Mortgage and you might think the "e" stands for electronic, but I'm not so sure. So far I've had to: - Fill out an online credit application form, which among other things ask me what year I started my last jo…