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The challenge will be for in-house lawyers to lead the charge in developing the systems that will replace our old ways of working, said legal technology expert Richard Susskind.
Corporate legal departments often focus too narrowly on using AI to make lawyers more efficient. However, legal technology expert Richard Susskind suggests that the true potential of AI lies in building systems that can proactively prevent legal work from arising, fundamentally transforming how legal services are delivered.
Legal AI pilots frequently fail at rates as high as 80-95%. The successful legal teams, however, are characterized by disciplined execution across five key practices: investing in people through continuous training, starting with small and focused use cases, establishing clear governance rules early on, meticulously measuring outcomes from inception, and actively seeking external expertise.
Organizations should deploy AI note-taking tools selectively. They are suitable for noncontroversial meetings under the careful supervision of corporate secretaries but should be avoided for sensitive discussions like executive sessions, strategic deliberations, or highly confidential meetings.
The rising volume of AI-related securities litigation could potentially surpass other recent trends, such as cases involving cryptocurrency or Special Purpose Acquisition Companies (SPACs), according to legal expert Brian Cochran. This suggests a significant and growing area of legal challenge related to artificial intelligence.
General Counsels (GCs) possess significant leverage in the legal industry, but they must actively utilize it. Legal services regulatory expert Crispin Passmore advises GCs to be assertive about their priorities, rather than simply accepting what providers offer, to drive more favorable outcomes.
Anthropic's appointment of Robert Mahari, a prominent legal tech founder, to lead Claude for Legal, highlights the increasing intersection of AI development and the legal sector. This move comes as Anthropic and other AI developers are rapidly introducing new AI solutions specifically tailored for legal work.