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ChatGPT: Weighing AI’s Risks and Rewards for Law Firms

Read the full article by Steve Whiter, Appurity Managing Director, on lawyer-monthly.com

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ChatGPT and similar artificial intelligence projects took the world by storm in 2022, and their use by law firms may not be long in coming. However, with the benefits AI stands to bring to the profession come equally pressing drawbacks.

ChatGPT captured the public’s imagination overnight. Its ability to generate copy at speed, complete research tasks and even participate in humanlike conversations opens up multiple operational possibilities for businesses and organisations across the globe. Law firms are no exception.

A report released by Thomson Reuters in April 2023 surveyed 440 lawyers across the UK, US and Canada about their attitudes and concerns on ChatGPT and generative AI in law firms. The survey found that 82% of respondents believe ChatGPT and generative AI can be “readily applied to legal work.” The bigger question, of course, is an ethical one. Should law firms and their employees use ChatGPT and generative AI for legal work? “Yes”, replied 51% of the survey’s respondents.

Many firms are cautious about the growing use of ChatGPT. They understand that the tool may streamline operational processes, but they are worried about how they can leverage the benefits of AI in a way that is secure, upholds confidentiality and privacy requirements and, crucially, remains ethical.

Can ChatGPT be used by law firms to aid productivity? What are the relevant risks? 

Read the full article by Steve Whiter, Appurity Managing Director, on lawyer-monthly.com >

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