How Generative AI Is Shaping the Future of Law: Challenges and Trends in the Legal Profession — from thomsonreuters.com by Raghu Ramanathan
With this mind, Thomson Reuters and Lexpert hosted a panel featuring law firm leaders and industry experts discussing the challenges and trends around the use of generative AI in the legal profession.?Below are insights from an engaging and informative discussion.
Sections included:
- Lawyers are excited to implement generative AI solutions
- Unfounded concerns about robot lawyers
- Changing billing practices and elevating services
- Managing and mitigating risks
Adopting Legal Technology Responsibly — from lexology.com by Sacha Kirk
Here are fundamental principles to guide the process:
- Start with a Needs Assessment…
- Engage Stakeholders Early…
- Choose Scalable Solutions…
- Prioritise Security and Compliance…
- Plan for Change Management…
Modernizing Legal Workflows: The Role Of AI, Automation, And Strategic Partnerships — from abovethelaw.com by Scott Angelo, Jared Gullbergh, Nancy Griffing, and Michael Owen Hill
A roadmap for law firms.
Angelo added, “We really doubled down on AI because it was just so new — not just to the legal industry, but to the world.” Under his leadership, Buchanan’s efforts to embrace AI have garnered significant attention, earning the firm recognition as one of the “Best of the Best for Generative AI” in the 2024 BTI “Leading Edge Law Firms” survey.
This acknowledgment reflects more than ambition; it highlights the firm’s ability to translate innovative ideas into actionable results. By focusing on collaboration and leveraging technology to address client demands, Buchanan has set a benchmark for what is possible in legal technology innovation.
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The collective team followed these essential steps for app development:
- Identify and Prioritize Use Cases…
- Define App Requirements…
- Leverage Pre-Built Studio Apps and Templates…
- Incorporate AI and Automation…
- Test and Iterate…
- Deploy and Train…
- Measure Success…
Navigating Generative AI in Legal Practice — from linkedin.com by Colin Levy
The rise of artificial intelligence (AI), particularly generative AI, has introduced transformative potential to legal practice. For in-house counsel, managing legal risk while driving operational efficiency increasingly involves navigating AI’s opportunities and challenges. While AI offers remarkable tools for automation and data-driven decision-making, it is essential to approach these tools as complementary to human judgment, not replacements. Effective AI adoption requires balancing its efficiencies with a commitment to ethical, nuanced legal practice.
Here a few ways in which this arises: