Law firms and corporate legal departments are dipping their toes into the GenAI pool, experimenting with tools like ChatGPT and Microsoft’s Copilot, say legal professionals
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Generative Artificial Intelligence, or GenAI, is poised to transform the legal profession as many law firms and corporate legal departments are already exploring the GenAI pool, say tech savvy legal professionals and tech experts.
Law firms and corporate legal departments are dipping their toes into the GenAI pool, experimenting with tools like ChatGPT and Microsoft’s Copilot, young legal professionals told The Hindu.
‘’This experimentation marks the beginning of a shift towards more deliberate planning and the establishment of required policies for GenAI use,’‘ they observed.
Kalindhi Bhatia, a Partner at a law firm BTG Advaya said she recognised the potential of GenAI, particularly in contract management, and how GenAI simplified the complexities of contracts, from monitoring and categorisation to risk assessment and compliance. ‘‘With the help of GenAI platforms we can streamline processes, reduce errors, and enhance efficiency,’‘ she added.
Anju Gandhi, a Partner at SNG & Partners, who the benefits of GenAI herself said, ‘‘ It aids in contract analysis, improving tracking and compliance while reducing manual labor. Young advocates, in particular, benefit from its (GenAI) ability to streamline research and drafting tasks,’‘ she commented.
However, despite the promises offered by GenAI platforms, there are also barriers to adoption. Lawyers, accustomed to traditional methods, may hesitate to embrace GenAI due to unfamiliarity and concerns over confidentiality. Moreover, GenAI is still in its early stages, requiring updates and improvements to address issues like bias and limited understanding of legal nuances.
‘’GenAI isn’t a one-size-fits-all solution and must be used alongside traditional methods. Cost, evolving technology, and client confidentiality remain primary concerns, alongside the resistance to change among some legal professionals,’‘ noted Gandhi.
According to Bhatia, while GenAI eases certain tasks, it doesn’t replace the human touch or the need for careful input. Lawyers navigate this new terrain by leveraging both GenAI and traditional methods, striving to achieve the best outcomes for their clients, she added.
Echoing similar sentiments, World Development Corporation, a Mumbai-based law-centered AI advancements firm, aiming to accelerate legal proceedings with law technology, said AI-enabled legal assistance would empower lawyers and judiciary in India in a big way. The firm claimed that it developed the country’s first AI solution, LawTech, for the legal fraternity, which helps lawyers in drafting, researching, conduct legal analysis, and checking precedents.
‘’More than 500 techies are working to enhance LawTech, our AI solution,’‘ said Zeeshaan Pathan, Group MD and CEO, World Development Corporation.