There have been significant advancements in artificial intelligence (AI) in recent years, particularly in the field of large language models (LLMs). LLMs are AI systems that are designed to understand and generate human language, as opposed to being specialized for other tasks like driving cars or detecting fraud. One of the most well-known examples of an LLM is ChatGPT from OpenAI, a chat-based AI system that can engage in dialogue, answer questions, and write in a way that mimics human writing.
But what has changed? The capabilities of LLMs, including ChatGPT, have shown remarkable progress since around 2022 when it comes to creating and understanding complex written language texts such as research papers, fiction stories, reasoning puzzles, and newspaper articles. Importantly, these advancements also extend to understanding and generating legal documents like contracts, statutes, motions, and court opinions.
Source: papers.ssrn.com
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