According to Wolters Kluwer’s “Future Ready Lawyer 2023” survey, lawyers are aware of the growing importance of generative AI for their law firms and legal departments. In fact, 73% hope to integrate it into their work in the next year Law tutor.
This survey also reveals how much they trust the capabilities of generative AI: the majority (68%) feel prepared for its impact and understand how they can apply it to their work (73%).
Generative AI tools for lawyers
In terms of areas where generative AI is expected to impact the daily work of lawyers in the next three years, the survey reveals that the majority (77%) of law firms and corporate legal departments expect it to be in the areas of big data and predictive analysis.
However, there is no clear consensus as to whether these applications represent an opportunity, a threat, or both. Almost half (43%) see it as an opportunity, but 25% perceive it as a threat due to questions it raises around authority, accuracy, consistency and potential bias. 26% of lawyers consider generative AI a threat and an opportunity at the same time.
«Generative AI remains something of a black box, prone to hallucinations and sometimes unreliable results. However, when reputable companies use this technology responsibly and with reliable data sources, it can add a lot of value with minimal risk , ” says Robert Ambrogi, editor of the LawSites blog and creator of the LawNext podcast.
Legal AI solutions handle large volumes of data
For legal professionals, ChatGPT provides a glimpse of what’s to come in generative AI and how it can offer new possibilities that increase efficiency and provide deeper insights. Lawyers argue that this technology can help automate certain routine legal operations , such as drafting contracts and reviewing documents, as well as helping to perform a large number of tasks in a short period of time.
Those professionals who are willing to integrate generative AI into their work in the next twelve months (73%) will use it for a wide range of tasks, most linked to efficiency and effectiveness. Some lawyers point out that these tools are becoming increasingly important to their daily work, as legal AI solutions are able to handle large volumes of data and analyze complex legal problems quickly. They also help to gain a more critical perspective and shape legal arguments. On the other hand, they also entail certain limitations, such as lack of authority and clarity, inconsistency and possible biases.