In a world where technological progress is inexorable, the realm of law finds itself at a crossroads. Approximately a year into the generative AI epoch, there’s a growing consensus among legal aficionados that this technology is not merely another fleeting trend but a transformative force. Yet, the pressing question echoing in legal chambers and forums is: Where will generative AI make its deepest mark in law firms? What precisely are the facets of legal practice awaiting a revolution?
A Glimpse into the AI-Infused Future of Legal Practice ILTACON 2023’s enlightening session, “A Day in the Life of an AI-Powered Legal Group,” endeavored to shed light on this. Panelists painted an intricate tapestry of how the dynamics of a law firm might evolve in the wake of this powerful technological wave, with implications for well-established norms from billable hours to client rapport.
Elevating Business Outreach & Communication Generative AI stands poised to revolutionize business development and marketing in law firms. The aptitude of large language models to autonomously produce content dovetails perfectly with tasks that marketing wings routinely engage in. As Jason Noble, the vanguard of product development at ikaun, elucidated, “they obviously generate a ton of content.” The forward march sees marketing mavens leveraging AI tools like ChatGPT to conceive fresh webinar ideas or seminal thought pieces. Yet, proficiency in interacting with these models—refining prompts and inquiries—remains a prerequisite for maximizing utility, Noble emphasized.
Reinventing Research & Contracts The prowess of generative AI in linguistic tasks naturally lends itself to research and contractual work. An increasing array of legal research platforms, from stalwarts like LexisNexis and Thomson Reuters to emerging ones, are integrating generative AI. Meanwhile, the contract realm witnesses an explosion of AI-driven tools assisting with diverse tasks ranging from drafting to in-depth analysis.
A Paradigm Shift in E-Discovery In the arena of e-discovery, AI isn’t a new player. But the advent of generative AI heralds unprecedented possibilities. “Summarizing large volumes of data is super powerful,” remarked Kristin Zmrhal from DISCO, predicting a future where e-discovery morphs into a domain “highly automated” by generative AI.
Rethinking Pricing Structures The potency of generative AI in streamlining tedious legal tasks has birthed concerns about its implications for the revered ‘billable hour’. Yet, insights from the panel suggest an optimistic trajectory. Jennifer Cody from Microsoft postulated the potential of AI in automating administrative tasks—“it is an administrative function.” Streamlining these functions might just unlock more billable hours for lawyers.
Turbocharging Analytics with AI Before the tidal wave of generative AI enthusiasm swept the legal domain, the industry was vigorously exploring data and predictive analytics. The advent of generative AI now promises to “turbocharge all of those efforts,” observed Evan Shenkman from Fisher Phillips.
Revolutionizing Client Interactions Perhaps the most intriguing potential of generative AI lies in reshaping attorney-client dynamics. The technology’s prowess could be harnessed to simulate client meetings, strategize interactions, and even sculpt client personas. As Dazza Greenwood, the visionary behind CIVICS.com, aptly encapsulated, it’s about understanding and anticipating client interests and behaviors with unparalleled precision.
