Thematic Intelligence: Deep Dive into AI and the Legal Profession

Thematic Intelligence: Deep Dive into AI and the Legal Profession

Summary

Artificial intelligence (AI) is transforming every industry, and the legal profession is no exception. Although the law holds proudly to tradition, it is no stranger to change where technology is concerned. From chatbots to contract-specific large language models (LLMs), this report will analyze how AI is reshaping the legal profession and how the next generation of legal professionals will operate as a result.

Key Highlights

• AI can benefit the legal profession through enhanced accuracy, improved efficiency, and cost reduction. Law firms and chambers can use AI tools to reduce errors in their work, save their professionals time, and reduce their bills.
• AI can also impact the legal profession negatively through possible redundancies and its inherent imperfections. The risk of AI replacing jobs, its susceptibility to bias, possible hallucinations, and security concerns could harm the work of legal professionals.
• Lawyers in the age of AI must cultivate an enhanced skillset. From a focus on relationship-building, to perfecting the art of mediation, lawyers can make themselves indispensable by focusing on skills that AI will find hard to replicate.

Scope

• This report concerns itself with practicing lawyers (solicitors, barristers, attorneys, judges, and other regional denotations) and the premises in which they reside (including but not limited to law firms, chambers, courts, and in-house legal departments). Law enforcement officials (such as police officers) and lawmakers (such as UK Members of Parliament or Members of the US House of Representatives) fall outside the scope of this report.
• Artificial intelligence (AI) refers to software-based systems that use data inputs to make decisions on their own. Falling within the scope of this report are AI technologies such as machine learning (ML), generative AI, and computer vision.

Reasons to Buy

• This report will help readers understand how AI is reshaping the legal industry. It includes an analysis of the impact of AI on productivity, efficiency, and spending while also considering the potential negative implications of the technology. It also evaluates how legal professionals must adapt their skills as AI begins to aid and automate many desk-based tasks. The report also includes interviews with legal professionals, who give their opinions on how AI is reshaping their industry.