The launch of ChatGPT marked a milestone in several industries, From executing research, rephrasing blocks of text to even coding, generative AI can do it all.
Although lawyers have acknowledged the wide variety of advantages that AI can bring, having the potential to boost delivery, pricing and execution of legal services, one cannot overlook the risks that such usage could pose.
According Thomas Reuters, 82% of lawyers believe that ChatGPT can be applied to legal work and 51% that it should be appled to legal work.
Despite the enthusiasm around ChatGPT, firms appear to be taking great caution before commencing its utilisation. Some of the concerns about AI are about its accuracy and security, as well as two elements which law firms need to honor and all costs: privacy and client confidentiality.
Even though there are still issues that need to be addressed, many, including myself, are optimistic and positive that, at some point, this piece of technology can change the industry.
But what do you think? Does ChatGPT have the potential to be an asset in this industry? Or are there too many question marks which are unlikely to be addressed anytime soon?