Fringe Legal
Moving Past The AI Hype - A Conversation With LexisNexis' Jeff Pfeifer
Sep 8, 2023
Jeff Pfeiffer, Chief Product Officer at LexisNexis, discusses legal AI progress, hype versus reality, law firm adoption, and tangible benefits. Topics include navigating the AI hype cycle, enhancing legal workflows with AI, growing law firm interest, avoiding disillusionment, and real-world benefits driving adoption.
29:31
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Quick takeaways
- Law firms are actively exploring and adopting AI to enhance legal workflows and improve productivity in tasks such as document creation and drafting.
- LexusNexus has developed mechanisms and controls in their AI tool to ensure citation references are verifiable and accurate, reducing the rate of hallucinations and improving the quality of answers.
Deep dives
AI in the Legal Industry
The podcast episode discusses the current state of AI in the legal industry and its potential impact. The speaker, Jeff Fiffer, Chief Product Officer for LexusNexus, highlights that law firms are more engaged with AI and are actively exploring its possibilities. He explains that generative AI has the potential to significantly improve productivity in legal tasks, particularly in document creation and drafting. Jeff also mentions LexusNexus' new application called Lexus Plus AI, which focuses on conversational interactions, such as asking questions, drafting basic documents and clauses, and summarizing information.
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