Fresh Voices on Legal Tech with Emily Colbert, SVP of Product Management at Thomson Reuters
Mar 22, 2024
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Dennis and Tom discuss AI in legal tech with Emily Colbert, focusing on the integration of genAI into Practical Law from Thomson Reuters. They talk about the importance of human experts, driving efficiency, and finding new AI integrations. The episode explores the challenges and benefits of using AI in the legal sector, emphasizing responsible integration for competitive advantage.
AI in legal tech must be powered by trusted data for accuracy and effectiveness.
Human experts and reliable content are crucial for developing generative AI in the legal industry.
Deep dives
Practical Law's Integration of AI with Legal Tools
Practical Law welcomes Emily Colbert, head of product management, to discuss the integration of AI in their tool and the importance of human involvement in AI processes. The use of generative AI, powered by trusted data, provides efficiency and accuracy in legal tasks. Users can obtain answers faster by asking plain English questions, enhancing productivity and enabling deeper research.
Benefits and Challenges of Generative AI
Generative AI aids in legal research and drafting tasks, increasing efficiency and quality while requiring verification. Addressing the legal community's concerns, transparency and responsible use of AI are essential. Practical Law's integration of AI seeks to balance efficiency with trustworthy content, leading to improved legal practice.
AI's Impact on Legal Profession and Business Growth
Generative AI contributes to business growth by providing knowledge and enabling attorneys to handle diverse matters effectively. It accelerates learning curves for attorneys, enhancing creativity and advancing legal tasks. The tool benefits both associates and experienced attorneys, facilitating better client interactions, informed decision-making, and efficient drafting.
Practical Law and Thomson Reuters: Future Directions
Thomson Reuters envisions integrating generative AI across its product suite to enhance accessibility and user experience. The legal assistant tool aims to streamline legal processes, support business development, and provide timely, accurate legal insights. Users can explore more about Thomson Reuters' advancements, including generative AI, via its website and AI-specific resources.
A trusted depth of data helps genAI infuse into the legal world more effectively and accurately, but not all genAI is up to scratch. Dennis and Tom talk with Emily Colbert about current AI uses in legal, with particular focus on the integration of AI into the Practical Law tool from Thomson Reuters. Emily discusses the importance of human experts and trusted content in developing genAI and what industry leaders are doing to drive efficiency and find new integrations for AI that support business growth and improved legal practice.
As always, stay tuned for the parting shots, that one tip, website, or observation that you can use the second the podcast ends.
Have a technology question for Dennis and Tom? Call their Tech Question Hotline at 720-441-6820 for the answers to your most burning tech questions.
Emily Colbert leads global product management for the Practical Law, Checkpoint and Regulatory Intelligence product lines at Thomson Reuters.