With the rapid growth of Artificial Intelligence (AI) in various sectors, the world of Biglaw is not far behind. Evidence of this comes from a comprehensive 2023 tech survey recently released by the International Legal Technology Association (ILTA). The survey includes valuable input from 532 law firms representing around 155,452 attorneys.
A striking revelation in the survey indicates that a whopping 85 percent of law firms are already utilizing AI in some form, countering the perception suggesting that attorneys might be hesitant about harnessing technology because of high-profile mishaps.
Interestingly, while law firms are actively engaging with AI, the application is not clearly defined. The study found that about 60 percent of these AI-enabled firms do not have a specific use policy in place. This could either reflect a wide variety of actionable use cases or indicate an uncertain trajectory for AI application. A mid-ground reality is likely, where the potential of AI ranging from creating drafts of documents to transactional operations is currently being explored.
Of course, as exciting as creating initial drafts of legal documents with AI sounds, it is essential to note that AI is still not close to writing a winning appellate brief (Listed in the source).
While the use of AI is on a significant rise, thankfully, law firms are not forcing their employees into wearing virtual reality headsets just yet. The survey points to a level-headed approach towards tech adoption, focusing on the effective utilization of AI rather than diving headfirst into every technological fad.
For a more comprehensive understanding of the influence of AI in Biglaw, the entire survey by ILTA can be checked out. It’s an essential read for anyone interested in the future of legal tech.
You can find more information in this detailed article at Above the Law.