The integration of generative AI into the U.K. legal market is gradually gaining momentum, with legal professionals diligently monitoring its potential impact on client relationships and business procedures, according to a report by LexisNexis titled “Generative AI and the future of the legal profession”.
The aforementioned report developed from a survey of over 1,000 UK legal professionals conducted between May 24 and June 6, 2023, reveals keen interest in the rising technology. The survey found that a voluminous 87% of respondents are aware of generative AI. Furthermore, a significant 46% of respondents foresee it influencing the practice of law to a measurable degree. More than one-third (38%) of participants expect it to have substantial impact. Interestingly, a smaller minority (11%) even predict its effect to be transformational.
A crucial takeaway from the “Generative AI and the future of the legal profession” survey highlights that in-house teams and large law firms in the U.K. stand among the primary adopters of generative AI tools.