Extract from Ed Empamano’s article “IT Organizations, Are You Ready for Generative AI?”
Generative AI is everywhere. Every new product in almost every industry has a growing generative AI ecosystem. This trend is far from slowing down. A recent survey by Deloitte of 2,800 business leaders predicts that 2024 will be “a defining year for generative AI worldwide.” The business of law has not been immune to the impact of generative AI; however, the rising tides have only slowly raised the heavy ships of law.
A year ago, countless articles were published centering on generative AI and its impacts on the legal industry, including in The New York Times and Financial Times. Nobody can forget when Chat GPT-4 passed the bar with a score nearing the 90th percentile. Yet here we are over a year later and a wave of generative AI technologies has flooded the market while the brass on those boats is still getting polished.
While a majority are still very optimistic that generative AI will change the practice of law, most legal innovation professionals are focusing on appropriate use cases in their organizations. In our precedent-based vertical, inroads and movements can be slow. Use cases for each law firm and legal department can drive meaningful impact and change. These targeted use cases and focused technologies resonate with law firms and legal departments and can move the internal generative AI conversation forward.
