The Global Legal Post has teamed up with LexisNexis to help inform readers’ decision-making in the selection of generative AI (Gen AI) legal research solutions.
The Generative AI Legal Research Hub in association with LexisNexis will host a series of articles exploring the key criteria law firms and legal departments should consider when seeking to harness the power of Gen AI to improve the delivery of legal services.
The initiative comes at a time of accelerating interest within the legal profession in Gen AI.
A LexisNexis survey of more than 800 legal professionals published in September found the number of lawyers in the UK using Gen AI for work purposes had almost quadrupled in a little over a year, rising from 11% in July 2023 to 41%. The percentage of lawyers planning to use Gen AI had climbed from 28% to 41%.
Some 78% of large law firms had made an internal change to drive AI forward, such as offering an AI-powered product to staff, making this segment the most enthusiastic adopters of this technology.
However, the report also noted "a stark rise in activity taking place inside corporate in-house legal teams", with 74% of the respondents having implemented an AI policy, up from 47% earlier this year.
The finding is reflected in BT Group’s announcement in April that its panel firm which makes the best use of AI and legal tech will gain an automatic place when the roster is next reviewed.
In the US, meanwhile, Fortune 1000 legal departments appear to be taking the lead on Gen AI adoption. The 2024 LexisNexis Investing in Legal Innovation Survey reported earlier this year that 50% of this group were using Gen AI, making them the highest users of this technology.
The same survey found that 70% of law firm leaders agreed or strongly agreed that Gen AI will enable new value-added work products that they can offer their clients.
The key factors underpinning the successful implementation of an AI product, according to the LexisNexis Legal AI Solution Buyer’s Guide, are: privacy and security, the Gen AI model itself, the accuracy and quality of answers, performance, and ethical AI principles.
“It can feel overwhelming to sort through all the technical terminology and innovation breakthroughs related to Gen AI,” the guide states. “But for practical purposes, it doesn’t need to be so complicated if you start by focusing on the key functionalities of a legal AI solution.”
Click here to download the Legal AI Solution Buyer’s Guide and here to visit the Generative AI Legal Research Hub.
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