Since the release of OpenAI’s ChatGPT prototype, its underlying technology – generative Artificial Intelligence (AI) – has been attracting attention from the legal sector. Lawyers are intrigued by its potential to revolutionize the way legal services are offered, priced and executed. But, like most technology, this new offering carries with it the potential risks that must be considered.
To gauge the current opinion of legal professionals, the Thomson Reuters Institute conducted a survey of over 440 lawyers in the United States, United Kingdom, and Canada, who work in large and midsize law firms. The result was a comprehensive report on “ChatGPT & Generative AI within Law Firms,” which illuminated the evolving attitudes surrounding the use of ChatGPT and generative AI in law.
The results of the survey showed that a large majority of the respondents (82%) agreed that ChatGPT and generative AI can be applied to legal work, and a slightly smaller majority (51%) believed that it should. Controversy remained, though: with the potential to vastly modify the way legal services are executed,ChatGPT and generative AI will have a significant impact on the legal industry.
The report spoke of several key findings to be taken into account by law firms as the technology continues to develop. There is both opportunity and risk to using generative AI in law firms, and it is incumbent upon those in the legal sector to closely monitor the developments in order to optimize efficiency and mitigate potential risks.
Charlotte Woolven-Brown, Head of Employment and Partner at the law firm Sternberg Reed in the U.K., commented on the potential of ChatGPT and generative AI: “Within the next six months everybody at the firm will be using it,” she said. “And there’s absolutely no way you’re going to stop that, because people will get more in tune with what’s happening and how quickly this technology is developing.”
As the opportunities created by ChatGPT and generative AI become increasingly more apparent, legal professionals need to pay attention to the risks and opportunities that come with the application of the technology. With the right attention paid to learning and understanding the implications of the technology, the legal industry stands to reap the rewards of greater efficiencies and rapid innovation.
The Thomson Reuters Institute is a leading provider of research and insights into how changes in the legal industry shape the business of law. It strives to equip the legal sector with the necessary knowledge to address the current challenges and capitalize upon the opportunities ahead. The Institute is committed to driving innovation, providing information and knowledge, and unlocking insights to legal professionals around the world.
