Generative AI (GenAI) has the potential to revolutionize the legal tech market with automation. Chris Audet, Chief of Research for legal, risk, and compliance leaders’ practice, believes that consumer tools like OpenAI’s ChatGPT and Google’s Bard are making legal technology more accessible and increasing the number of use cases.
However, it is crucial for lawyers to understand the limitations and risks of using GenAI. The technology is not yet advanced enough to complete tasks without human review, according to a report. Legal leaders need to evaluate its potential in the legal department to avoid tough questions from senior leadership.
New technologies, like GenAI, can transform how legal organizations operate. By embracing automation, legal departments can streamline processes and improve efficiency. It is important to monitor the output of GenAI closely to ensure accuracy and compliance with legal standards.