Adoption

Protecting Digital Ad Budgets: Industry Faces $84 Billion Annual Loss to Fraud Techniques

Pieter Gunst02 mins

The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. According to Juniper Research, fraud accounts for 22% of yearly digital advertising expenditures, resulting in losses of up to $84 billion for advertisers annually. This raises important concerns for…

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Council of Europe Introduces Historic Global Treaty on Artificial Intelligence to Safeguard Human Rights and Democracy

Pieter Gunst03 mins

Council of Europe launches AI Treaty The Council of Europe has initiated the world’s first legally binding global treaty on artificial intelligence (AI), termed the Framework Convention on Artificial Intelligence and Human Rights, Democracy, and the Rule of Law (CETS No. 225). Launched at a conference in Vilnius, Lithuania, this agreement aims to ensure that…

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Corporate Counsel: Maximizing AI Integration through Strategic Feedback and Pilot Programs

Pieter Gunst08 mins

In-house counsel voices have become an integral part of corporate conversations about implementing artificial intelligence. These discussions range from learning about employees’ individual experiences to addressing agenda topics in the boardroom. As you use these insights to guide executive leadership on AI implementation, here are some operational considerations to build a strong foundation. Feedback Loop…

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U.S. Supreme Court Rejects Oklahoma’s Bid to Restore Federal Family-Planning Funds Amidst Abortion Referral Dispute

Pieter Gunst04 mins

The U.S. Supreme Court has denied Oklahoma’s request to reinstate over $4 million in federal funding for family-planning projects amid the state’s ongoing legal challenge over abortion referrals. The decision, issued without explanation, saw Justices Clarence Thomas, Samuel Alito, and Neil Gorsuch dissenting in favor of the state. At the heart of the dispute is…

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“E-Discovery’s New Challenge: Managing AI Output and Prompt Logs in Legal Proceedings”

Pieter Gunst04 mins

As legal teams navigate the evolving landscape of e-discovery, a new challenge has emerged: managing the output and prompt logs from generative AI tools. According to Thomas Barce from FTI Technology, enterprises are actively forming committees, budgeting resources, and conducting pilots to implement these advanced AI applications. While there is significant pressure to quickly onboard…

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“Business Schools Revitalize Accounting Programs with ESG-Focused Curriculum”

Pieter Gunst03 mins

As business school enrollment in traditional accounting programs dwindles, educators are increasingly turning to new strategies to pique student interest. Incorporating environmental, social, and governance (ESG) measures into accounting curricula is emerging as an effective way to engage students by connecting the subject matter to real-world issues. The integration of ESG components introduces relevancy to…

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Mid-Tier UK Law Firms Lag Behind Top-Tier Peers in AI Adoption, Study Reveals

Pieter Gunst01 mins

Mid-tier law firms are increasingly falling behind their top-tier counterparts in the adoption and implementation of artificial intelligence (AI) technologies, according to recent research. The study highlights a notable disparity between the top 20 and the second 20 largest firms in the UK, specifically in establishing internal teams dedicated to AI transformation initiatives. For more…

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Record-Breaking Attendance at ILTACON 2024 Highlights Legal Industry’s Growing Embrace of Generative AI

Pieter Gunst01 mins

Earlier this month, more than 4,000 legal industry professionals gathered outside Nashville at the Gaylord Opryland Resort & Convention Center for the International Legal Technology Association Conference (ILTACON) 2024. The record attendance, noted in terms of registrations and countries represented, brought a palpable energy from the exhibit hall to various sessions and social events. Generative…

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Spellbook Introduces Groundbreaking AI Agent for Legal Industry Workflows

Pieter Gunst02 mins

In the evolving landscape of legal technology, Spellbook has launched what it claims to be the first AI agent specifically designed for legal tasks. Dubbed Spellbook Associate, this application is engineered to plan and execute complex, multi-step workflows in transactional matters, mirroring the role of a human associate. Spellbook, already known for introducing the first…

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Audit Quality Crisis: PCAOB Finds 70% Deficiency Rate in Broker-Dealer Inspections Amid Broader Accounting Industry Concerns

Pieter Gunst03 mins

Audits of broker-dealers, known for their complexity and technical demands, are facing significant quality issues. The Public Company Accounting Oversight Board (PCAOB) revealed a 70% deficiency rate in its 2023 inspections, marking the second consecutive year of such high deficiency levels. The intricacies of broker-dealer audits, which involve testing multiple revenue line items with narrow…

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Global Law Firms Struggle to Implement AI Legal Services in Asia Amid Slower Adoption Rates

Pieter Gunst01 mins

Global firms are experiencing difficulties in packaging AI legal services to Asian clients, trailing behind their counterparts in the US and Europe. The adoption rate of artificial intelligence technologies in Asia remains slower compared to Western markets, posing significant challenges for firms attempting to integrate AI solutions in their legal practices across the continent. For…

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India’s Prime Minister Narendra Modi Reiterates Call for Uniform Civil Code Amidst Political and Cultural Debates

Pieter Gunst04 mins

Prime Minister of India Narendra Modi reaffirmed on Sunday his call for a “secular civil code,” underscoring the strong support his administration has demonstrated for the introduction of the code since the commencement of his term. The address builds on Modi’s Independence Day speech, in which he argued strongly for the establishment of a secular…

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Gavel Introduces Free Automated Workflows to Simplify Legal Document Generation for California Practitioners

Pieter Gunst03 mins

Gavel, a document automation company, has unveiled pre-built workflows designed to offer automated document generation tailored to specific practice areas and jurisdictions. These workflows are free for any lawyer to test without requiring a Gavel subscription. The launch includes three workflows focused on California law, specifically addressing divorce, probate, and estate planning. According to Gavel…

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Court Rulings Emphasize Importance of Updating Beneficiary Designation Forms

Pieter Gunst03 mins

Two recent federal court rulings underscore the importance of vigilance when updating beneficiary designation forms for retirement accounts, life insurance, and other financial instruments. Failure to keep these records current can lead to unintended beneficiaries receiving the assets, thereby resulting in protracted legal disputes. A case in point is Proctor & Gamble U.S. Business Services…

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Elon Musk’s $56 Billion Compensation Battle: A Test for Corporate Governance and Legal Precedents

Pieter Gunst03 mins

Elon Musk’s attempt to revive his record $56 billion compensation at Tesla Inc. departs from foundational principles of corporate law by introducing the possibility of prolonged deal closures and unresolved court battles. Following an unprecedented investor vote, Musk seeks to overturn a landmark ruling that nullified his hefty pay package, which sent ripples through the…

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“Generative AI Spurs Renewed Interest in Underutilized Legal Technologies”

Pieter Gunst03 mins

Generative Artificial Intelligence (AI) platforms are increasingly perceived as revolutionary tools within the legal industry, although the technology’s greatest contribution may not be what most initially expected. For years, advanced technologies like Technology Assisted Review (TAR) were available but underused by many legal professionals who either distrusted them or avoided engaging with them altogether. A…

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Future of the Bar Exam in Question as States Consider Alternative Licensure Paths

Pieter Gunst02 mins

Known for assessing minimum competency with mixed success, the bar exam has long faced criticism and calls for reform. Advocates have pushed for alternatives that would make the process less expensive, less time-consuming, and more equitable. However, despite the efforts to improve the bar, its future remains uncertain. The National Conference of Bar Examiners (NCBE)…

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Legal Industry’s Second-Quarter Productivity Indices Show Signs of Improvement Amid AI Advancements

Pieter Gunst01 mins

Amid an overall decline that spans roughly a decade and a half, plus waning influence during an era of record-high billing rates and generative artificial intelligence adoption, productivity across the legal industry actually rose during the second quarter of the year. The measure of demand hours divided by head count at firms increased for the…

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