Legal Innovation Spotlight

35 - Utilizing AI in Legal Tech: Real-World Challenges and Opportunities with Ab Saraswat

Sep 4, 2024

Join Ab Saraswat, a legal tech expert from Lupl, as he shares his insights on the real-world challenges and opportunities of integrating AI in law. Discover how to leverage AI tools for content generation and data analysis while navigating the tricky build versus buy decision in legal tech. Ab discusses the underestimation of the true costs of custom development and the limited adoption of AI across firms. He also sheds light on managing bias in AI algorithms and optimizing workflows with innovative natural language interfaces.

51:45

Episode guests

Ab Saraswat

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

The challenges of adopting AI in legal tech include addressing bias in algorithms and the need for structured training to ensure effective integration into workflows.

Law firms face a dilemma between custom software development and off-the-shelf solutions, where long-term maintenance costs often outweigh perceived initial advantages.

Deep dives

LegalTech Insights from Recent Conferences

The episode highlights the excitement around recent legal tech conferences, specifically L-TECOM in Nashville, which provided an opportunity for networking and discussions on the growing intersection of technology and law. The speakers reflect on their experiences and the unique challenges associated with navigating such venues. One participant shares personal anecdotes about getting lost in Nashville, underpinning how conferences foster connections, even amidst minor hiccups. Attendees' enthusiasm for a return to Nashville emphasizes the importance of venue choice in promoting vibrant conversations in the legal tech space.

Intro

2min

Exploring Connections in Legal Tech: Personal Journeys and Networking Insights

4min

Navigating AI Bias and Creativity

8min

Navigating Legal Tech: Custom vs. Off-the-Shelf Solutions

10min

Navigating AI Adoption in Legal Tech

23min

Optimizing Legal Tech with Custom GPTs

6min

In this episode, we chat with Ab Saraswat about the challenges and opportunities of adopting new technologies, from AI tools to custom versus off-the-shelf solutions, offering actionable insights on navigating these decisions. Ab draws from his extensive experience in legal tech, including his current role at Lupl and his startup journey. Whether you're interested in AI tools like Copilot or broader legal tech trends, this episode offers practical advice and forward-looking ideas.

In this episode, Ab shares insights on how to:

Leverage AI tools for content generation and data analysis
Navigate the build versus buy decision in legal technology solutions
Integrate large language models and AI tools into existing workflows
Manage bias in AI algorithms
Effectively use natural language interfaces for improved software adoption

Key takeaways:

The true cost of custom development in law firms is often underestimated, with long-term support and maintenance requiring significant resources beyond the initial build.
While many law firms are experimenting with AI, actual widespread adoption is limited, primarily focused on small pilot programs and generative AI tools.
AI-powered tools like Copilot are still in their early stages, with substantial room for improvement in functionalities like email summarization and natural language processing.
AI models optimized for specific tasks (e.g., legal reasoning, mathematical problem-solving) provide more accurate results when tailored appropriately, highlighting the importance of selecting the right tools for specific needs.

About the guest, Ab Saraswat:

Abhijat (Ab) Saraswat is the Chief Revenue Officer at Lupl. In his role, he works with law firms to help their lawyers spend less time managing work and more time doing the work. Ab is also the Founder of Fringe Legal, through which, for the last six years, he has created cutting-edge content for legal innovators focused on putting ideas into practice. He is a Barrister (non-practicing) and was called to the Bar of England and Wales in 2015. Abhijat has worked for several large multinational corporations across various sectors and holds a Bachelor's Degree in Forensic Science and Neuroscience from the University of Keele, UK.

“I think it's not just build or buy. It should be built by a partner, and that partner means finding someone who is an expert in this, who does 80% of what you need, and then working with them to provide feedback and input into the roadmap.” – Ab Saraswat

Connect with Ab Saraswat:

Website: https://lupl.com/

Show: Fringe Legal Podcast: https://podcasts.apple.com/us/podcast/fringe-legal/id1454857612

LinkedIn: https://www.linkedin.com/in/asaraswat/

Connect with Ted Theodoropoulos:

Website: https://getinfodash.com/

LinkedIn: https://www.linkedin.com/in/tedtheo

YouTube: https://www.youtube.com/@getinfodash/podcasts