Lower fees, fewer lawyers and disruptive startups: Legal sector braces for impact from ChatGPT

Few sectors have bought into the generative AI hype as much as the legal profession. But that excitement is paired with concerns about the technology’s impact on the profession including industry – jobs, privacy concerns and the accuracy of output based on the large language models the applications are built on.

Proponents of generative AI argue the technology is saving clients time and money. Similarly, there are hopes that generative AI could change the day-to-day work of lawyers, too, freeing them from drudgery to focus on higher-value and more complex tasks and win new business.

However, there are still shortcomings, including the propensity of the software to hallucinate the effect on lucrative billable hours that support big firms, and concerns about how to keep client information secure and protected from being improperly used to train the large language models.

Source The Globe and Mail



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