The rapid advancements in Artificial Intelligence (AI) technology have touched many a profession, and the legal field is no exception. A recent survey of legal professionals suggest that most believe in AI being a catalyst for growth in the legal domain. Both law firms and corporate departments perceive this technology as a tool which can facilitate growth opportunities. For law firms specifically, AI has the potential to reduce friction in the launching of new services or expansion into new markets, as it can facilitate more time for professionals to identify and evaluate these new growth areas. Similary, corporate departments see AI as a way to propel their time towards supporting their organization’s strategy and growth objectives.
Despite the promise that the technology brings with it, there are challenges that need to be mitigated to fully realize the potential of AI in legal practice. Legal professionals would need to adopt a strategic approach towards the future of work, maintenance of working ethos and continuous learning in the face of technological advancements. The survey provides some recommendations on how to move forward in this tech-forward future.
- Professionals should welcome lifelong learning and upskilling. Developing a combination of technical, cognitive, and social skills will be critical to working effectively with AI.
- Defining the role and scope of AI in your work is imperative. It’s key to identify the tasks that could, or should be automated or augmented by AI. Nevertheless, tasks requiring human oversight, judgment and creativity need to be managed by people.
- Legal professionals need to acknowledge the ethical, legal, and social implications of AI. Adherence to the principles of responsible and transparent AI must form a fundamental part of it´s use.
AI certainly promises to bring about a transformational change to the legal profession, despite being riddled with some challenges. Expectations and apprehensions are part of the considerations for the future of work, and areas where AI can truly help or hinder these goals. Read the full report for a comprehensive understanding of AI’s potential in legal profession and preparing for the future of work in this field with optimism.