Generative AI — Fall 2023 Update

Most legal teams are still acting as bystanders when it comes to LLMs, due to the sector’s conservative approach, strong risk aversion, and general negativity towards automation. Nevertheless, we do notice that the legal world is adopting LLMs, even if at a slow pace.

This may prove to become particularly bothersome because legal work is among the most frequently cited types of work that will be impacted by LLMs.

A meaningful percentage of law firms are experimenting with LLMs, with almost all having strong innovation departments. 

Most firms are experimenting silently, 

others are more open about their research and innovation. 

Some interesting community efforts are also arising.

Legal teams of any size are strongly advised to start experimenting with LLMs as soon as possible, to avoid running behind peers and neighbouring sectors such as accountancy and consultancy. It will take significantly more time for legal teams to prepare their knowledge for use by a future LLM than it will for that future LLM to appear on the market.

Law is a profession of words, and LLM just happen to be great at dealing with language. As soon as you start experimenting with LLMs, you will quickly find workflow improvements that you probably had not even considered optimising.

Source: Clause base





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