You’ve no doubt heard of ChatGPT, the amazing chatbot that can produce remarkably high quality text on any number of topics. When it first hit the scene, social media was filled with fun but non-essential uses for it, like writing bedtime stories featuring your kids, hammering out last minute wedding speeches or helping cheat on college essays.
But it wasn’t long before ChatGPT had passed the SAT, GRE and LSAT — scoring in the 90th percentile on the bar exam. Lawyers started to take note, some cautiously experimented, while others took a more foolhardy approach preparing a court filing with it to catastrophic results. Regardless, it quickly became clear that this technology’s enormous store of knowledge, seeming ability to reason and its textual interface make it ideally suited to the legal domain.
In the coming months and years, generative AI is going to transform legal work at companies. In-house lawyers, legal operations, contract managers and paralegals will all be affected, but so will every team that interacts with legal, from sales and procurement to finance and IT. Legal is a big field so I’ll focus primarily on the day-to-day legal tasks that affect most companies.
AI is not new to in-house legal teams. Several companies, mine included, have been building AI tools for the legal domain for years, saving people thousands of hours of manual work, extracting key dates, parties and terms from tens of thousands of agreements...
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