Shaping a Legal Innovation Practice with Generative AI
Jul 20, 2023
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In this podcast, Natalie Pierce speaks with Joe Green and John Scrudato from Gunderson's practice innovation group. They discuss the evolution of knowledge management and its impact on the legal industry, the role of data and technology in legal innovation, the career path and requirements for legal innovation, and the implications of auto-generative AI in the legal industry.
Generative AI has the potential to transform industries and challenge our understanding of creativity, with applications ranging from art to human-like text generation.
Gunderson's innovation practice utilizes technology and data to streamline operations, provide better client services, and develop innovative tools to improve efficiency and data interoperability in the legal industry.
Deep dives
The Rise of Generative AI
Generative AI, including powerful language and reinforcement learning models, is transforming all industries and challenging our conception of creativity. It is being used to create stunning art, generate virtual realities, and generate human-like text.
The Ethical and Legal Challenges of Generative AI
While generative AI offers many benefits, there are concerns regarding accuracy and completeness of generated content. Subject matter experts are able to leverage these tools effectively, but caution is advised for junior users and clients who may rely on the technology for self-diagnosis or misuse it.
Gunderson's Approach to Innovation
Gunderson's innovation practice is relatively new and has grown as law firms recognize the need for innovative solutions. Leveraging technology and data, Gunderson aims to streamline operations, provide better client services, and deliver innovative tools, such as GDHQ, a platform for seamless collaboration and access to tools.
Building Custom Solutions and Data Standards
Gunderson builds its own platforms when existing solutions do not meet their needs. By combining legal expertise and technical skills, the firm has created tools like the FundFormation Portal and is leading efforts to standardize cap table data through the Open Cap Table Coalition. The goal is to improve efficiency and data interoperability across the industry.
We're back for Season 5 and we're diving into the fascinating world of generative AI! This season, we'll explore the technology underpinnings, the exciting advancements made so far, the ethical and legal considerations it brings to the forefront, and the possibilities it opens up for the future.
Tune into this first episode as host Natalie Pierce speaks with two colleagues from Gunderson's practice innovation group, Chief Innovation Officer Joe Green and Legal Engineering & Data Strategy Manager John Scrudato.
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This podcast is for informational and educational purposes only. It is not to be construed as legal advice specific to your circumstances. If you need help with any legal matter, be sure to consult with an attorney regarding your specific needs.
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