He is now within the home lawyer comfort zone – artificial lawyer

Research by FTI Consulting and Relativity has revealed that inhouse lawyers now see Genai technology as many within their ‘comfort zone’ – and this is great to see. It also has some extensive implications, (see below).

The data collected covers how internal lawyers see the use of Genai inside, or by the legal firms that advise them.

In this case, when it comes to the means of the contract review, 85% said they were comfortable to some extentWith 60% saying they were ‘too’ or ‘extremely’ comfortable with the use of technology, or their advisers doing so.

After that came the privilege review, the DOC review in general (ie not necessarily just contracts), then electronic detection, and then all the way to monitoring compliance-even in this ‘less comfortable’ position without almost 40% say they were ‘many’ or ‘extremely’ comfortable with a solution.

In short… ..What an extraordinary rate of receipt and recognition. Back in 2023 there were many comments on how inhouse lawyers were nervous about using him, or even their advisers doing so. Well, this nervousness has largely evaporated.

From the point of view of the artificial lawyer there are several main takeings here:

1. If clients are happy to use this technology inside and happy for legal firms to use it as well, then this must change expectations. Ie when a client says: ‘I am very pleased with you using it in this task,’ It’s not just a random comment, it’s an implicit statement that Expectations have changed.
2. that The market for the tools of it for inhouse teams is growing rapidly. For years, many legal technology companies withdrew from sale in internal groups, unless they were fully concentrated on that side of the market, e.g. Clm Systems. Now, it will seem that with this high level of ‘comfort’, there is everything to play. This in turn expands total income That legal technology companies can generate.
3. Since he has been increasingly brought to the internal teams, and thus more time can be stored in routine tasks, views on a whole range of issues become more true, e.g. Debates for the billing time are no longer only academic While GCS can really see that some areas of work make no sense to be billed based on time alone; While internal discussions about how ‘he will allow you to do more high value work and be more strategic’ also move from a philosophical debate to something the team really has to plan.
4. And some larger companies may begin to see that they no longer need so much staff focused on those routine tasks, e.g. in managing the lower risk contract.

In general, it is extraordinary that a technology that reached the mass legal market alone in November 2022 has already been accepted so much. One might wonder where we will be by the end of the decade.

The last word goes Renato FazzoneThe head of the technology segment in Germany at FTI Consulting, who said: ‘We expect almost all the main corporate corporate departments globally to actively integrate generating technologies and others into their daily operations by the end of 2026.’

Yes, indeed.

–

Demography: Sixth edition of the FTI Consulting and Relative Surcked 207 key legal officials and general advice in a dozen places globally, carried out by the registration of the Market Research Institute. Moreover, analysts from Ari Kaplan advisers conducted 34 quality interviews.

–

Legal Innovators Conference in California, San Francisco, June 11 + 12

If you are interested in the advantage of legal and innovation – and where we are all going – Then come to the legal innovators California, in San Francisco, June 11 and 12, where speakers from the main law firms, inboh teams and technology companies will share their knowledge and experiences about what is really happening.

We already have an extraordinary list of companies to hear. This includes: & He, Legora, Harvey, Structureflow, Ivo, Flation Law Group, Pointton, Centar, Lexisnexis, Ebrevia, Legatics, Knowable, Draftwise, Newcode.ai, Riskaway, SimpleClurse and more.

Cooley, Wilson Sonsini, Baker McKenzie, Gunderson, Ropes & Gray, A&O Shearman and many other major legal firms will also participate.

See you all there!

More information and Tickets here.