In the rapidly evolving landscape of information technology, leaders seeking a strategic defence against the disruptive influence of generative AI can draw inspiration from LexisNexis Executive Vice President and Chief Technology Officer Jeff Reihl. His advice? Embrace the technology swiftly to stay ahead of potential disruptors.
LexisNexis, with its extensive portfolio of legal and business data and analytics services, has weathered competitive challenges over the years, from the advent of the Internet and Google Search to the proliferation of open-source software. Now, Reihl identifies generative AI as one of the most formidable adversaries the company has encountered.
Acknowledging the unprecedented pace of evolution in generative AI, Reihl, boasting nearly four decades of experience in IT leadership, emphasises the need for proactive measures. Following the debut of OpenAI’s GPT-4 in March, LexisNexis’ C-suite convened to strategise, resulting in a unanimous decision to overhaul the company’s annual goals. The aim was to confront the innovative landscape head-on, considering the transformative capabilities of generative AI.
Reihl describes the company-wide effort as “all-hands-on-deck,” highlighting the urgency to adapt to the game-changing interactive abilities, comprehensive answers, and data generation capabilities of GPT-4. The outcome of this strategic shift was the launch of Lexis+ AI, a multimodal solution with generative AI enhancements, introduced to the US market in October.
This AI platform, tailored for the legal industry, is one of the few AI Software as a Service (SaaS) platforms. It incorporates a retrieval-augmented generative engine to eliminate distortions, refines conversational search capabilities, and offers features such as legal document drafting, case summarisation, and document upload capabilities. Lexis+ AI empowers users to analyse, summarise, and extract core insights from legal documents within minutes.
Reihl emphasises the collaborative development of the platform, involving customers in the beta version to refine prompts and searches. Additionally, customer input played a crucial role in implementing security measures, ensuring privacy, and enabling specific searches to be kept in-house—an essential consideration for the legal profession.
Despite LexisNexis’ strides in leveraging generative AI, Reihl identifies the universal challenge all organisations face: the quest for sufficient talent in this rapidly evolving technological landscape.
Source: CIO
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