Overview of the Legal Tech Market for Generative AI Products

In this episode, I chat with Brian Kennedy, Senior Practice Innovation Manager of Real Estate at Bryan Cave Leighton Paisner (BCLP), about Generative AI. We discuss what Large Language Models (LLMs) are, some issues plaguing LLMs including hallucinations, the types of legal tech products using LLMs, and how law firms can look at spending their Generative AI dollars with a final look at how BCLP uses Generative AI. 

The points we discuss in this episode along with the corresponding time stamps are set out below:

1. Introduction (0:09)
2. What is a Large Language Model (LLM)? (02:02)
3. What are some accuracy issues LLMs face, and why? (3:25)
4. What are hallucinations (05:11)
5. How can hallucinations and accuracy problems be mitigated? (08:46)
6. How much can we trust Generative AI tools? (11:31)
7. What is the overview of the Legal Tech landscape for Generative AI products? (16:40)
8. What is the best approach for a law firm in spending their Generative AI dollars? (19:51)
9. What approach is your firm Bryan Cave Leighton Paisner (BCLP) taking to using Generative AI? (21:33)