Bonus Episode | Brian Kennedy | Harnessing Generative AI
Apr 21, 2024
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Guest Brian Kennedy, Senior Practice Innovation Manager at BCLP discusses Generative AI in law firms. Topics include differences from other AI, limitations, upskilling lawyers, and the role of prompt engineering. The episode explores how law firms can harness Generative AI and the key skills lawyers need in this new era.
Generative AI offers transformative power and versatility in legal tech, promising exponential improvement.
Establishing trust in AI results amidst accuracy concerns is crucial for legal professionals to consider.
Deep dives
The Power and Versatility of Generative AI
Generative AI, particularly large language models, represents a significant advancement in AI capability. Unlike previous AI models in legal tech, these new models exhibit transformative power and versatility. They are not just linear progressions but a leap in capability, promising exponential improvement. Their versatility allows for tasks like drafting documents and summarization, expanding their applications compared to traditional AI legal tech.
Limitations and Concerns of AI in the Legal Industry
While generative AI offers immense potential for the legal industry, there are critical concerns to address. These include issues related to privacy, security, regulatory compliance, ethical considerations, and AI bias. The primary challenge lies in ensuring the quality, accuracy, and source credibility of the information used to train these models. Establishing trust in AI results amidst accuracy concerns remains a crucial consideration for legal professionals.
Strategies for Law Firms to Leverage Generative AI
To harness the opportunities provided by generative AI, law firms need a comprehensive strategy. This strategy should involve determining the approach to AI adoption, identifying prime use cases, conducting well-managed trials, and collaborating with legal tech vendors. Ensuring strong governance policies, data readiness, and skills development are crucial components for law firms to effectively integrate generative AI tools into their workflows.
In this bonus episode, I chat with Brian Kennedy, Senior Practice Innovation Manager of Real Estate at Bryan Cave Leighton Paisner (BCLP), about Generative AI. We explore how Generative AI is different from other types of AI, uncover limitations of Large Language Models (LLMs), see how law firms can harness AI and explore the key skills lawyers need in this new era.
The points we discuss in this episode along with the corresponding time stamps are set out below:
Introduction (0:10)
How is Generative AI different from other AI? (0:47)
What are the major limitations of AI? (3:13)
How does a law firm ensure that they are well positioned to harness the opportunities of Generative AI? (05:22)
How can lawyers upskill in the era of Generative AI? (08:28)
Does prompt engineering have to be performed by a lawyer? (09:43)
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