Generative Artificial Intelligence (GenAI) has been a prominent topic in the news since the release of ChatGPT in November 2022. While the societal impact of technology is not a new concept, GenAI stands out due to its accessibility to the public and its profound influence on knowledge-based industries like law. In addition to boosting efficiency and productivity, GenAI’s new technological capabilities hold the promise of empowering lawyers to offer more precise and insightful guidance to their clients.
Managing partners and C-suite leaders might find themselves in a dilemma, caught between lawyers seeking the latest AI tools to enhance their practices and the need to manage expenses. The abundance of information in AI solutions can be overwhelming, leaving law firm management unsure about how to begin harnessing the potential of this disruptive technology.