ONLINE // JUNE 20 // 2023
Navigating Opportunity and Risk:
Exploring the Implications of the Exponential Maturity of AI Tools for the Business and Practice of Law
OVERVIEW
The legal profession has long been characterized as one that is resistant to change, deeply rooted in traditional practices, and placing a strong emphasis on the domain-specific expertise of its practitioners.
However, the exponential maturity of AI tools has resulted in a significant paradigm shift in the legal landscape.
The potential for AI tools (like Chat GPT and other LLMs or “Large Language Models”) to improve productivity, efficiency, and quality—if not completely transform the practice of law by automating historically tedious tasks—has made a significant impression upon the legal world and beyond.
Indeed, the potential for AI to fundamentally transform the way in which legal work is conducted and law firms operate is now being recognized with increasing vigor.
From legal research to document review and analysis to predictive analytics – AI-powered tools have the capacity to become a force multiplier in law practice, enabling lawyers to quickly and more accurately analyze large volumes of legal data and documents, identify key information within contracts and clauses and even help to highlight conflicts or non-compliance issues to mitigate risk, negotiate better terms, and largely manage client relationships more effectively.
Are we at an inflection point with respect to the way legal work is done and delivered? How will changes in the legal market resulting from AI automation affect our business models and client expectations? And how might we adapt our service offerings to meet the evolving needs of our clients where many routine tasks are likely to be automated?
And if we pause for a moment, shouldn’t we consider all that we might be leaving behind in terms of experience and know-how, by automating rote tasks?
Now is the time for firm leaders to carefully consider the opportunity and risk inherent to the adoption of emerging AI tools and question the potential for unintended consequences as it pertains to our businesses.
Addressing these questions and many others, Inflection Point: The Legal AI Revolution, scheduled to take place online this June 20th is an ideal opportunity to cut through the hype and do some level-setting as we explore several fundamental considerations and hypothetical futures that we are confronted with today as it relates to the state of AI/automation within the legal profession.
The application of these maturing AI tools is seemingly bound only by our own imagination and capacity for creative problem solving.
Inflection Point: The Legal AI Revolution promises to be a thought-provoking examination of where we are today, as we discuss and debate the potential benefits and risks associated with the use of maturing AI tools within the legal profession—and the opportunities for leveraging the power of these tools to add value and transform the way we work for both law firms and the clients we serve.
