The rapid advancements in Artificial Intelligence (AI) have permeated almost every facet of our lives, and the legal profession is no exception. Catch up on an enlightening discussion on the evolving impact of Generative AI (GenAI) on the legal industry. Factor's latest webinar in their Sense of Direction series, "The 18 Months that (Finally) Galvanized Legal: How GPT-4 has Changed the Profession," delves deep into these critical themes with insights from industry leaders.
Hosted by Ed Sohn, Global Head of Insights and Innovation at Factor, the webinar features a panel of leading thinkers and do-ers in this space: Darth Vaughn, Managing Director of Legal Ops+ at Ford Motor Company; Francis Brown, Vice President, Head of the General Counsel’s Office at SoftBank Investment Advisors; Reena SenGupta, Executive Director at RSGI; and Hitesh Talwar, Head of Research and Development at Factor.
Some key moments:
- Reena SenGupta talked about her vision of AI-enabled lawyers: "In five years' time, a law firm won't be a law firm. The long hours model, that bedevils the legal profession, where your value is based on how many hours you put into something, will disappear. We may need to look at subscription models."
- Darth Vaughn emphasized the need to adapt to the future of legal services: "We need to have legal professionals that can utilize the tools… The best thing we can do as an organization is to train our people. It's going to be part of your job description when the purchasers of legal services are making decisions, and certain firms or lawyers have a competitive advantage because they're able to use tools more efficiently to provide better legal service delivery, that's where the work's going to go. So, adapt or become irrelevant."
- Hitesh Talwar discussed his focus on frontier models and "shooting for the moon": "We're trying to build for what's coming… Use the tools, understand what they can do, what the limitations are. You will probably fail a few times, and that's fine because that is learning. But then eventually you will succeed, and you'll have that 'A-ha moment.' After that, you will become someone who has superpowers."
- Francis Brown highlighted the importance of strategic AI implementation: "Think about what your workflow inefficiencies are that you actually want to solve, rather than bringing in some omnivorous large AI product, which provides an end-to-end solution that you might not need."
Ready to be inspired? Watch the full recording now!
