Allen & Overy breaks the internet (and new ground) with co-pilot Harvey — from legaltechnology.com by Caroline Hill

Excerpt (emphasis DSC):

We’re told that at the end of the trial, around 3,500 of A&O’s lawyers had asked Harvey around 40,000 queries for their day-to-day client work. MIG head David Wakeling said in a statement yesterday: “I have been at the forefront of legal tech for 15 years but I have never seen anything like Harvey. It is a game-changer that can unleash the power of generative AI to transform the legal industry. Harvey can work in multiple languages and across diverse practice areas, delivering unprecedented efficiency and intelligence. In our trial, we saw some amazing results.”

Also related/see:

OpenAI-backed startup brings chatbot technology to first major law firm — from reuters.com by Sara Merken

Summary:

  • Allen & Overy partners with legal startup Harvey
  • Harvey received $5 million in a funding round led by the OpenAI Startup Fund last year

Global Firm Allen & Overy Rolling Out Harvey.ai — from legallydisrupted.com by Zach Abramowitz

Excerpt:

Here’s another way to think about what it can do: read, understand, analyze, issue spot and draft responsive documents. Does that apply to a lot of contract work? Sure. Litigation? Yep, that too. The reason this is hard to swallow is that we’re stuck in a framework where there are contract tools for contracts, eDiscovery tools for discovery, drafting tools for drafting etc. The AI revolution could potentially change that paradigm.

The Top Legal Tech Startups to Watch in 2023 — from gritdaily.com by Spencer Hulse

Excerpt:

There are certain industries that have been slower to embrace technology than others, and the legal profession is one of those at the very top. However, legal tech startups have been gaining ground in recent years, with the market expected to reach around $32 billion in 2025. There is also a significant rise in legal department spending on legal tech, which is only going to rise in the coming years.

Legal tech offers numerous solutions, which include everything from offering legal advice digitally to AI and automating some of the time-consuming processes formerly handled with pen and paper.

The following list includes legal tech startups and companies of all sorts, from those that have been around for years to up-and-coming innovators.

Embracing The Tectonic Shift: How Technology Is Transforming The Legal Profession — from livelaw.in by Khushboo Luthra

According to a Gartner Report, 4 of 5 legal departments plan to increase technology spending. By 2024, legal departments will replace one out of five lawyers with a nonlawyer staff, and 1/4th of the expenditure on corporate legal applications will go to non-specialist technology providers. By 2025, legal departments will have automated 50% of legal work related to significant corporate transactions.

Generative AI Is Coming For the Lawyers — from wired.com by Chris Stokel-Walker
Large law firms are using a tool made by OpenAI to research and write legal documents. What could go wrong?

Excerpt:

The rise of AI and its potential to disrupt the legal industry has been forecast multiple times before. But the rise of the latest wave of generative AI tools, with ChatGPT at its forefront, has those within the industry more convinced than ever.

“I think it is the beginning of a paradigm shift,” says Wakeling. “I think this technology is very suitable for the legal industry.”

Generative AI is having a cultural and commercial moment, being touted as the future of search, sparking legal disputes over copyright, and causing panic in schools and universities.

Addendum on 3/6/23:

Will artificial intelligence replace your lawyer–and will its name be Harvey? — from fortunes.com by Aron Solomon