Generative AI: Transforming the Legal Sector or Just a Fad?
The legal sector is at a pivotal moment as generative AI technology begins to reshape how law firms operate. With a significant increase in adoption—26% of law firms now utilizing GenAI on an enterprise level—it’s clear that this technology is not just a passing trend but a potential game-changer. The initial hesitance surrounding AI’s reliability, highlighted by incidents of fabricated legal citations, is gradually being replaced by a growing confidence as dedicated legal GenAI platforms emerge.
Client demand is a major driver of this shift, with 59% of corporate legal departments urging their law firms to integrate GenAI into their practices. This pressure is pushing firms to not only embrace the technology but also to establish clear strategies for its use. As Zachary Warren from Thomson Reuters Institute notes, the challenge now lies in setting boundaries on which tools to adopt, rather than convincing lawyers to embrace the technology itself.
While the journey of integrating GenAI into legal practices is still in its early stages, the potential for transformation is immense. As firms begin to rethink training and service delivery, the question remains: will those who adapt quickly thrive, or will they be left behind in this rapidly evolving landscape?
Original source: https://www.raconteur.net/legal/is-the-jury-still-out-on-generative-ai-in-the-legal-sector