This article examines the top ten most obvious ways that Large Language Models (LLMs) like ChatGPT-4 can transform the legal profession, dear Bar colleagues and fellow tech aficionados. Later on, there are certain to be other surprising ways that come to light. Be ready to enter the burgeoning world of AI-enhanced legal practice.
The legal profession can be significantly improved with the aid of carefully prompted and quality regulated ChatGPT-4 software, if utilized properly. Nonetheless, exercise cautious and remain vigilant, especially in these initial stages. Keep your new AI assistants closely tethered. They are susceptible to both large and little errors. Always be wary of inflated claims and sales hype when using new technology.
Use extreme caution when using the new products that are on their way to us. Make the time to become proficient at GPT prompting or get a professional to do it for you. LLM models will yield enormous rewards if used appropriately. You could put your job at risk if you do not use it. The era of rapid change is arrived.
The ten most evident ways the Bots today believe they can help the legal industry are listed below.
Effortless Legal Research
An important but time-consuming part of our work is conducting legal research. You can save numerous hours by not having to spend them combing over case law, statutes, and regulations by using LLMs type GPT models to quickly identify pertinent legal authority and summaries their main ideas. That is a much-needed break from the tiresome research procedure.
But be aware of LLMs’ time restrictions. For illustration, ChatGPT-4 is based on data that is current through September 2021. Across the board, all LLM tools have this issue. I have heard that the LLMs’ time problem may never truly be resolved. It has a built-in limitation.
The time constraint is a major issue for legal research. I once inquired about the top ten instances in 2022 when ChatGPT-3.5 was initially released, simply to see what would happen. It fabricated information in its answer and did so with perfect assurance (that has since altered). Unsurprisingly, it used cases from before 2022, but it also created new ones! Another current issue with GPT models is that they have been known to “hallucinate,” according to AI scientists. Outside of the questions regarding the time limit, hallucinations can also occur. The Ai only invents events. In my 2022 query, ChatGPT-3.5 had a judge hallucinate. It produced a name that, as far as I could tell from my investigation on Google, had nothing to do with any judges serving in the nation. I took some time to check that because I did not think that was even conceivable.
The sanity and temporal problems will eventually be resolved. (I am aware that the sanity problem is not widespread and that it can be quickly resolved with better engineering.) The Chat GPT search constraints may once more be resolved by “multi-modal” search. For “breaking news” cases of law, you might also need to use other search engines like Google or Lewis. Like a new form of sherardizing, a term that lawyers frequently use that confuses non-lawyers. But, having an AI bot at your side who offers Answers rather than just Search will be a huge advantage, especially once we iron out the wrinkles.
Effective Documentation
Writing legal documents can be a laborious process. LLMs can create templates and suggest suitable language for a variety of documents, including contracts, pleadings, and memos, based on the particulars of the case. As a result, your drafting process will be more productive and efficient, freeing you up to concentrate on other important facets of your practice.
Further Legal Analyses
Think of an AI assistant that can evaluate legal situations, spot potential defenses, and even foresee them. LLM GPT models can offer these insights, giving you a greater sense of confidence as you get ready for court or negotiations. Your AI bots can carry you and make you look attractive while doing so. In order to inspire you with fresh ideas, they might even whisper in your ear. Hence, while riding an AI, allow an AI Bot also ride on your shoulders. That is a win-win, recursive hybrid loop.
Reimagining due diligence
A crucial yet difficult part of the legal profession is due diligence. By spotting potential hazards, examining contracts, and checking for regulatory compliance with more accuracy and efficiency, GPT models can dramatically speed up this process. When overseeing challenging due diligence chores, this AI-powered aid may prove to be crucial.
Transforming Contract Review
Contract review can be a time-consuming procedure fraught with changes and potential problems. By extracting essential terms, spotting potential problems, and offering potential changes, LLMs can automate contract assessment. Contract management could become more successful and efficient as a result of this technical advancement. Ask the bots to handle the tedious tasks on your behalf.
Reimagining E-Discovery
I can confidently discuss the strong potential of LLM GPT models in this field as an expert in e-Discovery. They can be taught to sort through enormous data sets, find pertinent documents, and find patterns or errors that might otherwise go undetected. The e-Discovery procedure and outcomes can be enhanced by an AI-driven approach. It is not quite there yet, but once concerns about confidentiality and training for humans-in-the-loop are handled, it should be shortly. Bots read quickly—almost at the speed of light—and they never forget. Attorneys who used to spend all day reading documents and coding them for contract reviews, your time is up. Take your buggy-whips and retrain to become Bot trainers.
Mastering Case Management
An organizational problem can arise while dealing with several cases. By collecting and managing case information, monitoring deadlines, maintaining client communication, and producing reports, LLMs can assist you in staying on top of your workload. A better organized and effective practice is the end outcome.
An alternative to litigation (ADR)
ADR procedures like mediation and arbitration can benefit greatly from the assistance that enhanced LLMs can offer. AI-driven tools can aid in the successful resolution of disputes by summarizing the perspectives of the parties, identifying probable points of agreement, and proposing viable solutions.
Legal Education and Training Supported by AI
LLMs can be used to provide educational resources for lawyers and law students, such as case summaries, hypothetical scenarios, or legal analyses. This innovative strategy can supplement conventional legal education and professional growth, creating new opportunities for teaching and learning.
Increased Client Communication
Let us face it: clients often find legalese to be confusing. But, you may create succinct, understandable explanations of difficult legal concerns using GPT models. Also, you can generate prompt replies to client queries, ensuring that they sense your worth and support. In a complex world of law, you will become the go-to attorney for clients seeking both technological competence and a human touch.
Conclusion
We have covered eleven ways that LLMs, like Open AI’s GPT models, could transform the legal profession with your support and involvement. These AI technologies have the potential to improve our work’s accuracy, efficiency, and even enjoyment. Not to mention, a big thank you to ChatGPT-4 for its support in writing this essay!
Remember that the legal industry is constantly changing, and adopting these innovative technologies might give you a competitive edge in the industry. Join the AI revolution instead of falling behind to gain from it. Your customers (and your sanity) will appreciate it.
