The uses of artificial intelligence (AI) in the legal services industry have been increasing over the last several years with the goals of improving efficiency and providing more accurate outcomes in legal proceedings. Going against the grain of what might have first been expected from the introduction of AI, many jobs in professional services have the potential to be significantly impacted. There were mixed
on whether AI will have an impact on the careers of professionals in the next five years, but most agreed AI will have a positive impact on productivity and efficiency. The majority of
have recognized the increasing importance of legal technology.
GenAI use
As the rollout of GenAI has remained in its primary stages in the legal services industry, the main purpose of using GenAI at law firms was simply out of curiosity. A timely comparison, however, was from client perspectives when it came to resolution times of legal issues and the technology competence of lawyers. There was a clear disparity between lawyers with high tech competence and lawyers with low tech competence when it came to unresolved issues and cases being resolved more quickly than expected. The objectives of using AI in terms of productivity and efficiency, therefore, may have already been making an impact on the legal services industry.
Transatlantic comparisons
When the top law firms in the United Kingdom are compared to those in the United States, their perspectives on the predicted impacts of GenAI differ somewhat. In the United Kingdom, the top law firm perspectives on the impact of GenAI were expected to be an increase in productivity and more time being spent on chargeable work. When it came to the predicted impact of GenAI at top U.S. law firms, however, the perspective was that it would enable new value-added work to clients and impact the apprenticeship model of large law firms. The global perspective was somewhat less exciting, insomuch that law firms thought GenAI would have the strongest impact when it came to document drafting. What has been demonstrated and agreed on during surveys that have documented AI usage and impact is that fundamental change in the legal services industry is not far away.
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