| In mid-November 2023 the Law Society of England and Wales released a short guide on the essentials of Generative AI for lawyers.
Check out our short 10-point summary …
Generative AI in the Legal Sector:
The emergence of generative AI in the legal sector offers new possibilities for increased technology adoption but also introduces various risks.
|AI’s Long-term Impact: The long-term impact of generative AI on the legal profession is uncertain, though some law firms are already using and investing in these tools.|
|Opportunities and Risks: Generative AI may present opportunities for improved service, cost reduction, and meeting new client demands, but also comes with risks such as data and technology risks.|
|Intellectual Property and Data Risks: Concerns include potential copyright infringement, misuse or disclosure of confidential information, and data protection risks.|
|Cybersecurity Risks: Vulnerabilities to hacking, data breaches, and corruption of data sources are significant concerns.|
|Integrity of Outputs and Ethical Concerns: Generative AI could produce misleading or inaccurate outputs, and reflect societal biases present in training data, leading to unfair results.|
|Reputational Risks: Negative consequences for clients could lead to reputational and brand damage.|
|Regulatory and Professional Responsibilities: Ensure a comprehensive understanding of, and strict adherence to, regulatory and professional responsibilities, especially in relation to the use of generative AI within your legal practice.|
|Risk Management Strategies: Conduct meticulous risk management by rigorously fact-checking all information. Perform due diligence in your practice. Always ensure compliance with all legal and ethical standards.|
|Considerations for use in Legal Practice: Examine the use of generative AI tools in your legal practice thoroughly, focusing on data management and client communication. Regularly assess the tool’s relevance and the added value it provides, while weighing these benefits against the potential risks involved.|
Keep your eyes peeled for a follow-up post on how all this relates to legal translation …
For legal translators the links are clear but our next post will spell them out for lawyers and law firms