This two-part blog series delves into the critical importance of professional-grade GenAI in highly regulated fields such as legal, drawing insights from a recent webinar hosted by Harvard Business Review and sponsored by Thomson Reuters.
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| Takeaway #1: The human element is important to AI |
| Takeaway #2: Data security and privacy remain top concerns |
| Stay ahead with professional-grade GenAI |
For professionals operating in regulated sectors, such as legal, the potential of generative artificial intelligence (GenAI) is both exciting and complex. As we navigate the evolving landscape of AI, it’s crucial for professionals to understand not just the capabilities of GenAI, but also how to leverage it responsibly and effectively within the constraints of the legal environment. This miniseries aims to provide you with valuable insights into how professional-grade GenAI can enhance your practice, streamline operations, and drive innovation – all while maintaining the highest standards of accuracy, security, and compliance.
In the second and final installment, we’ll explore insights from the latter half of the webinar, focusing on critical aspects of GenAI adoption, including data privacy, rigorous testing of technology, and the human element.
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Takeaway #1: The human element of AI technology is perhaps the most important part
As Colleen Nihill, Chief AI & KMOfficer, Morgan Lewis & Bockius LLP, states in the webcast, “The human experts are the most important part about the technology.”
The collaboration between Thomson Reuters and Morgan Lewis highlights the importance of human involvement in ensuring the responsible use and accuracy of AI tools. The partnership involved working closely with Thomson Reuters’ C-suite executives, senior partners, and team members to understand their product roadmap, vision, and philosophy around GenAI.
The human element was further emphasized by the involvement of thousands of attorneys in training and testing the tools, ensuring that the output was accurate and tailored to lawyers’ needs. Thomson Reuters’ unique blend of technical and domain-specific talent enables the development of GenAI systems that are not only technically sound but also informed by deep understanding of the law and legal practice. This human-centric approach is essential for developing AI tools that are accurate, responsible and set a high standard for the legal industry.
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David Wong, Chief Product Officer
Takeaway #2: Data security and privacy remain top concerns for legal professionals
According to Nihill, ensuring the confidentiality and integrity of client data is crucial for regulated sectors, and law firms must work with secure tools and providers that can guarantee the protection of sensitive information. Her experience with adopting GenAI highlights the importance of transparency and collaboration in addressing data security and privacy concerns.
When searching for a provider, her organization looked for a partner like Thomson Reuters that could not only communicate their commitment to data privacy but also provide a detailed look into the architecture of their tools. This level of transparency is essential for building trust and ensuring that the provider’s security measures align with the law firm’s own standards. Additionally, Nihill notes that legal clients have varying preferences when it comes to adopting generative AI, ranging from enthusiasm to caution. To accommodate these differences, law firms must be able to offer a range of solutions that cater to each client’s unique needs, all while ensuring that the providers they work with are trustworthy and secure.
Stay ahead with professional-grade GenAI
The responsible integration of GenAI in the legal profession requires a deep understanding of its opportunities and limitations. As we’ve seen throughout this series, professional-grade GenAI can enhance legal practices by streamlining operations and driving innovation, but only if implemented with the highest standards of accuracy, security, and compliance. By prioritizing the human element, rigorous testing, and data privacy, legal professionals can unlock the full potential of GenAI while maintaining the trust of their clients.
Stay ahead of the curve in the rapidly evolving landscape of AI in the legal profession. Sign up for the AI newsletter from Thomson Reuters, delivering expert insights, industry news, and practical guidance on leveraging GenAI in legal practice, straight to your inbox every month. And learn more about our professional-grade GenAI solution, CoCounsel, built specifically for legal work.
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