The Legal Ops Podcast
The Pulse: introducing the Legal Ops Institute, contract acceptance via emoji, new reports on AI and its consequences for the legal industry
Aug 21, 2023
Alex from the Legal Ops Institute discusses contract acceptance via emoji and reports on AI reducing law firm revenue. They also highlight the low adoption of AI among legal professionals and mention the upcoming ALITA Awards.
31:58
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Quick takeaways
- 62% of legal professionals are not using AI due to concerns about security, privacy, and lack of knowledge on how to use it safely.
- Generative AI could lead to a 23.5% reduction in law firm revenue if it replaces 50% of reviewing and drafting work.
Deep dives
Legal professionals using AI
According to a report by Lidify, 62% of legal professionals are not using AI and believe that the industry is not ready for the technology. Concerns around security, privacy, and lack of knowledge on how to use AI safely were cited as the main reasons for not adopting it.
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