The 16th annual Law Department Operation Survey by the Blickstein Group and Deloitte has revealed a growing expectation among legal departments for their law firms to leverage generative artificial intelligence (AI) technology. This sentiment is not only about keeping pace with emerging technology, but also about enhancing the value and cost-effectiveness of legal services offered by these firms.
In the survey, which gathered responses from 77 in-house legal and legal operations professionals, it was discovered that a significant proportion believe generative AI can positively impact their operations. Specifically, more than half (54.5%) anticipate that law firms utilizing generative AI will adopt different billing methods, potentially expanding the availability of alternative fee arrangements.
Going a step further, about 68% of the survey respondents believe that the adoption of generative AI will enhance the overall value of the legal services law firms provide. This optimism conveyed by the respondents underscores an emerging trend of AI becoming a key component in the delivery of legal services.
Although some legal departments are currently experimenting with generative AI, the onus is largely on law firms to determine the optimal means of integrating this technology into their operations to augment and improve legal services. Regardless of the eventual approaches adopted, it is clear that legal departments are looking forward to the potential benefits of generative AI.
The full article, albeit behind a paywall, can be accessed here.