Redefining the Legal Profession
GenAI is redefining the way we practice law. It’s not just a tool; it’s a transformative force that redefines how we collect, query, analyze, and utilize legal data from various sources.
The integration of GenAI into the legal profession is set to redefine how organizations approach legal challenges, offering innovative solutions that align with the complexities of the modern legal landscape. By automating routine and time-consuming tasks, GenAI allows legal professionals to focus on higher-value activities, fostering increased efficiency and productivity. With GenAI, the future of legal services, both at Deloitte Legal and industry-wide, is set for a fundamental transformation.
What does the future hold for Generative AI and legal services?
The potential of Generative AI in legal has captured the imagination in ways unmatched in other professional services. Given its heavy reliance on precedent and legislation, and the prevalence of text generation and review as its core tasks, legal work is particularly susceptible to AI application.
While most industries and corporate functions have already undergone substantial technology-driven transformation, legal has remained relatively untouched due to the unstructured nature of legal data and the continued reliance on expert professionals. With the emergence of large language models which underpin Generative AI, the legal industry has almost certainly reached its long-awaited tipping point toward transformative change.
Generative AI will be pervasive to the core of what legal services are today. So much so that we believe it has the capability not merely to automate tasks but to disrupt the entire foundations of the legal market.
Within this guide we take a deeper look into what is Generative AI, the range of opportunities this technology offers corporate legal departments, where to begin, and the impact on legal service providers.