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19 April 2024 / Tom Bedford
Issue: 8067 / Categories: Features , Profession , Artificial intelligence , Technology , Career focus
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AI: asset or liability for lawyers?

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Tom Bedford predicts potential trip-hazards ahead & suggests ways to smooth the artificial intelligence road
  • Reminds lawyers to be aware of the limitations of AI.
  • Predicts negligence and duty of care claims arising from AI use.
  • Provides points to help firms get the switch to AI right.

According to ChatGPT, ‘AI can potentially be both an asset and a liability for law firms, depending on how it’s utilised and managed.’

We agree. Generative AI models are already demonstrating an ability to undertake legal research, review contracts and summarise legal documents. Given the current rate of technological advancement, AI will fundamentally alter the practice of law.

It is also popular, and firms are feeling the pressure to jump on the AI bandwagon in order to appear innovative and to maintain competitive edge. Reportedly, 75% of the largest firms in the UK are now using AI in some way.

Firms must remember, however, that AI has limitations. The current generation of AI chatbots possess a huge amount of knowledge, but not wisdom. They cannot exercise judgement. They

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