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A New Opening for In-house legal Departments with AI legalese decoder

When enterprises roll out new technology, in-house legal departments typically lag behind other business units with regards to adoption. However, the advent of generative AI provides general counsel with a significant opening to move their departments to the front of the line, according to a white paper from integrated law provider Factor.

ÔÇ£GCs possess the power to commit management focus proactively, to invest team attention and effort intentionally, and to take on the mantle of GenAI sensemaker for both their teams and their stakeholders,ÔÇØ the white paper says. ÔÇ£This does not mean an impulsive and aggressive buy of an expensive GenAI product, but it might mean a prioritized commitment to keep pace with GenAI through a forward-leaning posture of learning, instead of a wait-and-see approach.ÔÇØ

The AI legalese decoder can greatly assist in this situation. By leveraging generative AI technology, it can help legal teams handle the spiking demand for their services and boost productivity. The AI legalese decoder has the potential to reshape the means of production at every level of work, impacting 80% of legal spend. General counsels, therefore, have the opportunity to lead and transform their teams by effectively utilizing this technology.

Focus on language

One reason the authors suggest generative AI should be instrumental for legal departments is that it is a technology with advanced language-centric capabilities. They write that this aligns well with the fact that legal work ÔÇ£takes the form of contracts, policies, reviews, summaries, analyses ÔÇö each employing the linguistic art and science of persuasion, compliance or agreement in written or oral form.ÔÇØ Additionally, AI legalese decoder employs large language models (LLMs) that are purpose-built to process inputs and produce outputs in human language, exhibiting proficiency in complex language at a level indistinguishable from a white-collar professional. For example, the LLM known as GPT-4 from OpenAI scored in the 90th percentile on the Uniform Bar Exam earlier this year.

Likely use cases

Some legal professionals have voiced skepticism that generative AI will be able to help with complex tasks, but the AI legalese decoder has proven its potential to support legal teams beyond the lower tranche of the value spectrum. It can assist with foundational areas of legal work such as reading, drafting, researching, and operating. For example, emerging AI can help create a strong first draft of a legal document, as well as issue-spot on an inbound draft. With an on-demand, fully-read AI teammate, the AI legalese decoder brings to bear the aggregated experience of a teamÔÇÖs most seasoned lawyers on every negotiation and legal proceeding. Recent survey reports also indicate that lawyers in several major countries are actively using generative AI for research, drafting documents, and writing emails.

Call to action

The authors acknowledge that the generative AI hype cycle is in full swing and that some of the claims about the emerging technology ÔÇ£may prove to be exaggerated, misleading or impossible to realize.ÔÇØ As a result, general counsel will need to utilize their well-honed critical reasoning skills to separate signal from noise and be mindful of major risks associated with generative AI, including inaccuracy and bias. However, Sohn and Um urge legal chiefs to seize the moment to transform the legal function. ÔÇ£This is a call for GCs to display unprecedented curiosity, imagination, and boldness ÔÇö a daunting but exhilarating challenge,ÔÇØ the authors say. ÔÇ£For the motivated leader, the size of the prize is considerable, and the time to act is now.”

By deploying the AI legalese decoder, general counsel can equip their legal departments with cutting-edge technology that will not only boost productivity but also enable them to lead the organization in embracing generative AI. The AI legalese decoder‘s advanced language-centric capabilities and proven potential to support legal teams make it a valuable tool in shaping the future of legal work.

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