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Half of UK Lawyers Advocate for Self-Regulation in AI Use

New Report Highlights Concerns and Trends

Introduction

A recent report by Thomson Reuters reveals that nearly half of UK lawyers favor self-regulation when it comes to artificial intelligence (AI) in the legal profession.

Key Findings

  • Self-Regulation vs. Government Oversight:
    • 48% of UK law firm lawyers and 50% of in-house lawyers prefer self-regulation for AI tools like ChatGPT.
    • 36% of law firm lawyers and 44% of in-house lawyers support government regulation.
    • In the US and Canada, only 26% of lawyers favor government oversight.
  • AI Adoption in Law Firms:
    • Over a quarter (27%) of legal professionals are using or planning to use generative AI for:
      • Document review
      • Legal research
      • Document summarization
      • Contract drafting
      • Knowledge management
  • Client Concerns:
    • 38% of UK law firm respondents worry clients might object to the use of generative AI, despite no surveyed clients specifically requesting firms not to use it.

Barriers to AI Adoption

The report identifies several key barriers to widespread AI adoption in the legal field:

  • Potential for inaccurate responses
  • Data security concerns
  • Compliance with relevant laws and regulations

Case Study: Klarna’s Innovative Approach

Klarna, a Swedish fintech company, is encouraging its in-house lawyers to utilize ChatGPT for drafting contracts.

“The big law firms have had a really great business just from providing templates for common types of contract,” says Selma Bogren, Klarna’s senior managing legal counsel. “But ChatGPT is even better than a template because you can create something quite bespoke.”

Bogren highlights the efficiency gained: “Instead of spending an hour starting a contract from scratch or working from a template, I can tweak a ChatGPT draft in about ten minutes.”

Also Read:  Japanese Giants Call for Tighter AI Regulations

Conclusion

The legal profession is at a crossroads with AI adoption. While many advocate for self-regulation to maintain control over AI’s integration, others see the need for government oversight to ensure ethical and accurate usage. As firms navigate these changes, the balance between innovation and regulation will be crucial.

AI was used to generate part or all of this content - more information

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