Inside Practice LLC’s Post

Addleshaw Goddard LLP is at the forefront of #legaltech innovation, leveraging Thomson Reuters' CoCounsel Core to boost efficiency in #legal document analysis. This AI-driven tool is part of the firm's strategic approach to balance custom solutions with cutting-edge #AI, streamlining processes like due diligence with rapid, no-pre-training document processing. CoCounsel Core enables #lawyers to interact with technology directly, increasing efficiency and paving the way for exciting integrations with #HighQ, #PracticalLaw, and more. Safety and training remain top priorities to ensure client data security as they embrace AI's transformative potential in the legal sector: https://lnkd.in/dnJRaARK #LegalTech #AIInnovation #LawFirmEfficiency #DocumentAnalysis

Our first panel discussion of the day at AI x KM: The Next Frontier in Legal Knowledge Management (April 24th): How KM&I Teams are Paving the Way for AI in Legal Practice & Law Firm Operations: New Roles, New Tools, New Strategies #artificialintelligence is transforming the legal sector, creating new opportunities and challenges for law firms and their clients. To succeed in this AI-enabled world, law firms need to adapt their processes, workflows, and value propositions, and leverage the potential of AI to enhance their service delivery and competitive edge. #Knowledge and information (K&I) teams are at the forefront of this change, as they play a vital role in facilitating the adoption and integration of AI solutions in law firms. In this session, Paul, Weiss, Rifkind, Wharton & Garrison LLP's Iris Skornicki, Elizabeth Wilkinson, and Gina Lynch will explore how K&I teams are strategically reshaping their roles and responsibilities to become the vanguards of #AIintegration. We will examine how these teams are expanding their traditional functions of managing and disseminating knowledge, to leading and participating in the development, testing, customization, and implementation of AI tools and models. We will also discuss how K&I teams are developing new competencies and structures to support the training and education of lawyers and operations staff on AI, to monitor the AI landscape and advancements, to gather and analyze requirements from lawyers and clients, to run pilot projects and evaluate outcomes, and to communicate AI-related progress and value both internally and externally. rapid change. Of course, clients will look to firms for guidance, transparency, and collaboration. What’s the risk to your firm in not making considerable investments in the AI space?  For more information and to confirm your place: https://lnkd.in/gC-TiPS2 Super early bird is available through February 29th Space is limited, past NYC and Chicago programs sold out!!

Gen AI is transforming the legal industry by empowering attorneys to focus on high-value tasks, enhancing efficiency, and improving job satisfaction. This technology enables legal professionals to automate routine work like initial research and document drafting, freeing up time for complex problem-solving and client interactions that require human judgment. By becoming "10x lawyers," attorneys can achieve a tenfold increase in productivity, offering better outcomes and client services. Embracing generative AI responsibly can lead to substantial benefits for the legal sector, making it an indispensable tool for modern legal professionals. Read the full article below: https://lnkd.in/gmfpVRiG

#GenerativeAI’s full impact on the life of legal professionals is to be seen. According to industry experts, it is poised to enhance and streamline existing capabilities, giving rise to a new breed of legal professionals. In a recent article for Forbes, Tanguy Chau delves into the substantial impact #GenAI could have on productivity within the legal sector. Chau outlines four advantages and four potential challenges, laying the groundwork for exciting innovations and enhanced value. To gain deeper insights in how to unlock the 10x Lawyer, check out "Unlocking The 10x Lawyer: How Generative AI Can Transform The Legal Landscape" on Forbes. Read here: https://bit.ly/3v93uIA ⏩ Want to learn more about this dynamic topic? Remember to register for our immensely popular Generative AI for the Legal Profession course:  https://lnkd.in/gvbZSqkp #LegalTech #LegalInnovation #TechTransformations #FutureofLaw

Lawyers see the potential of generative AI to exist in research (66%), briefing documents (59%), and document analysis (47%). - Lexis Nexis Is the future of legal research powered by AI? The answer is a resounding YES! Generative AI is changing the game, and early adopters are reaping the benefits. In our latest blog post, we explore the top use cases for generative AI in the legal industry. #generativeai #legaltech #law #lawyerlife #innovation

#AI in #legaltech is about solving issues faced by legal teams, not about incorporating the latest buzzword. It's about using #generativeAI to streamline workflow as Rawia Ashraf of Thomson Reuters explains in this interview with Today's General Counsel: https://bit.ly/48je6TM #ainews #legal #legalteam #legalnews

# 🚀 Early Adopters of Gen AI in Law 🌐 Generative AI is not just a buzzword; it's reshaping industries, particularly the world of law. 📜✨ Imagine sifting through mountains of documents, analyzing precedents, and preparing legal briefs—all with the assistance of a high-tech virtual assistant. This is no longer a dream but a reality for two pioneering law firms: A&O Shearman and Wilson Sonsini. ## The Big Players **A&O Shearman** and **Wilson Sonsini** stand at the forefront, integrating generative AI into their legal practices. These firms aren't just dabbling in new technology; they're diving in headfirst, revolutionizing how we think about legal services. ### How Are They Doing It? 🔍 **Document Analysis:** AI-powered tools can scan and interpret vast amounts of legal texts, identifying key points, and providing comprehensive summaries faster than any human could. 📝 **Contract Drafting:** Generative AI can draft contracts with unmatched precision, reducing errors and ensuring compliance with all relevant regulations. ⚖️ **Litigation Support:** From predictive analytics to case strategy formulation, AI is helping lawyers make data-driven decisions. ### The Human Touch 🤝 While AI offers incredible efficiencies, the human element remains irreplaceable. These law firms understand that technology is a tool to complement, not replace, the expertise and intuition of seasoned legal professionals. The result? Enhanced productivity, reduced overhead costs, and, most importantly, better service for clients. ## The Future Is Now As A&O Shearman and Wilson Sonsini set the stage, it's only a matter of time before more firms join the revolution. The integration of generative AI in legal services promises a brighter, more efficient future for the industry. 📚 Curious for more details? [Read the full article here.](https://lnkd.in/g-BbsSdH

DISCO announced the launch of Cecilia Auto Review, a generative AI tool designed to enhance the efficiency of first-pass legal document review. The tool provides consistent tagging of documents, enabling legal professionals to identify relevant materials more quickly. “DISCO has been at the forefront of the industry’s generative AI revolution, and we’ve become known for building intuitive products that apply during all phases of high-stakes litigation,” said Devin Kani, VP of Product Management. “Overall, the response from early users has been tremendous, with many telling us how it dramatically accelerated review with highly accurate results. We worked closely with users at top law firms on real case data throughout the development of Cecilia Auto Review, and it enabled us to continually improve our products so that lawyers can effectively leverage them to find evidence and develop their cases faster.” “As we integrate AI-driven tools into the suite of solutions we offer our lawyers, we are excited to test promising tools. DISCO’s Cecilia Auto Review is such a tool – and we found the verified results of first pass document review to achieve an accuracy level that was game changing for our case team,” said Daryl Shetterly, Managing Director, Orrick Analytics, Global Operations & Innovation Center. “We believe generative AI solutions like Cecilia will fundamentally improve the practice of law and the value we deliver for our clients.” https://lnkd.in/eNXcAX-x #Legal #Law #LegalTech #LegalTechTalk #Productlaunch #AI

Noticed how large law firms are increasingly investing in Generative Artificial Intelligence (Gen AI)? A recent survey highlights a potential gap between top firms and their counterparts in adopting this game-changing technology. Survey data reveals: - 43% of Am Law 200 firms have a dedicated budget for Gen AI tools versus 19% of non-Am Law 200 firms. - 53% of the top firms have already purchased "Legal AI" tools, compared to just 20% of other large firms. The bigger picture: - Am Law 200 firms are exploring new business opportunities with Gen AI. - 34% anticipate a significant increase in investment, and 38% plan to hire more technologists for AI initiatives in 2024. Keep an eye on the gap between big firms and their peers as Gen AI becomes standard practice in the legal industry. Exciting times ahead for innovation and efficiency! What are your thoughts on this trend? https://lnkd.in/gWFJ8tM4

The legal industry is opening up to AI integration, offering law firms remarkable benefits. AI helps save time, improve risk assessments, enhance work quality, streamline operations, boost creative analysis, reduce stress, and strengthen client relations. Embracing AI can transform legal practices and drive efficiency. Discover more in this insightful article by the American Bar Association: [ABA Article](https://lnkd.in/geYUCGuH) #LegalTech #ArtificialIntelligence #LawFirmInnovation #AIInLaw