8:30 - 17:30

Our Opening Hours Mon. - Fri.

(06) 530-5559

Call Us For Free Consultation

Generative AI and the Legal Industry

Generative AI and the Legal Industry blog by S & S Lawyers that is the leading law firm in sharjah, UAE consisting of experienced lawyers and advocates in Sharjah that provides high quality legal services to groups and individuals to help them with legal matters, including arbitration, civil, criminal law and crimes, real estate, personal status, and as well free legal consultation.

The legal professionals are getting the chance to stretch their idea of what the technology can do for them and create important opportunities for growth in the legal industry. The generative AI technology is most likely to change the corporate legal departments and law firms in profound and unique ways.

What is Generative AI?

Generative artificial intelligence (generative AI) is a type of AI that can create new content and ideas, including conversations, stories, images, videos, and music. The next step in artificial intelligence is to be trained to learn human language, programming languages, art, chemistry, biology, or any complex subject matter. It reuses training data to solve new problems.

Generative AI can do a lot of things, it can explore and analyze complex data in new ways. So researchers can discover new trends and patterns that may not be otherwise apparent. Such algorithms can summarize content, outline multiple solutions paths, brainstorm ideas, and create detailed documentation from research notes.

How can Gen AI help the legal industry?

Many legal professionals are already considering the use of generative AI in their legal practice with over 82% of them believing that the capability can be used in legal work, though this percentage suggests that legal professionals see the potential but are unsure if they can trust the available tools to deliver accurate legal work products.

Gen AI has begun to make in-roads among law firms, corporate legal departments, and other legal service providers and technology companies. Some firms might move faster than others, while even within each firm progress could be diverse, with some practice areas with work that’s more susceptible to automation - such as real estate - radically transforming with AI faster than other practice areas, such as litigation.

Zach Warren - the person who leads Technology and Innovation Content for the Thomson Reuters Institute stated that generative AI is smart enough to give a plausible answer to most prompts and that from there, the human using the tool should decide whether the material is accurate and edit it which can be a great way to get a solid first draft, even for legal issues he added.

He also offers several ways lawyers can use generative AI to create efficiencies in their practice, such as asking the tool to write a brief or contract based on a set of facts or asking the tool to draft an RFP response to lighten the load in business development.

Impact of Generative AI on Legal Works

AI will then allow legal work to be done more efficiently, and corporate legal departments will put increasing pressure on law firms and outside providers to deliver work faster.

Another advantage of adapting AI into your legal work is that it can simplify tasks that most often fall to newer associates, so if firms use generative AI they will be able to move new associates to more strategic work more quickly. Small to medium law firms are now able to compete better in the war for talent if they are able to hire and promise less grunt work and more opportunities to work directly with partners and clients.

No matter the size of the law firm, we think that the point of generative AI in the legal industry is that the change is a must: and that those that don’t adapt will not be able to keep up with the efficiencies gained by their peers.

Firms that may find generative AI changes much about their businesses. Rest assured that it cannot replace lawyers but rather disrupt the status quo around the billable hour, overworked associates, tedious work, and impossible goals so completely. This AI-powered technology can’t be denied that it could significantly reshape the way law firms and their clients do business together.

In conclusion, there remains a lot of speculation around when and how Gen AI will influence the legal industry and the legal profession, but beginning to plan for a potential future now might be the smartest idea that law firms, corporate legal departments, ALSPs, and other legal industry players should do because to be fair, it is reasonable to believe that a Gen AI-impacted future will lead to profound change in the way people work.

No Comments

Sorry, the comment form is closed at this time.