The Impact of AI on the Legal Industry

A contrast between traditional principles and evolving practices – AI's promise of revolutionizing legal services

The legal industry

Neural networks as computer program architectures inspired by the human brain. The introduction of transformers and large language models (LLMs)

Evolution of AI and introduction of neural networks

AI's ability to communicate naturally through written language. AI's advantage in understanding and generating text faster than humans

LLMs: Predicting the next word based on a series of words

AI integration in contract lifecycle management systems for in-house legal practitioners. Summarizing contracts, suggesting contract language, and anomaly detection

Positive effects of AI on the legal industry

AI tools accelerating the work of senior attorneys and mimicking the work of junior associates. A more cost-effective business model for law firms and clients

AI's impact on law firms

eDiscovery software solutions aiding attorneys in filtering through discoverable material. Greater speed and precision in handling large volumes of data

AI in litigation and the legal discovery process

Examples of AI tools attempting to replace lawyers. Emphasizing that AI will never truly replace lawyers but enhance their skills

The future of AI and law

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