AI & The Practice of Law

AI is already assisting practitioners in their day to day work. Caveats abound.

Generative AI tools are not always accurate a Stanford study found that it only produced accurate results 88% of the time
Most prevalent practice today: AI can be used to summarize large documents and extract key points, helping lawyers decide whether to read them in detail
New Litigation Use Case: Generative AI can be helpful for lawyers as a “sparring partner” to help brainstorm new ideas and pathways for legal arguments
Early Impact:
- Some clients are beginning to specifically request/demand the use of AI in legal tasks, leading to firms that have adopted AI being chosen over those that haven't
- Legal AI is moving towards specialization, with smaller, more focused language models being developed for specific tasks, such as mergers and acquisitions, potentially increasing efficiency and effectiveness
Certain firms may gain strategic advantage by using their extensive databases of agreements to train AI models and improve their negotiation strategies
Of Note: As per tradition and in practice, Corporate is likely to adopt AI technology quickly, while the Judiciary may be slower

Recent Posts