Log in
Register
Search
Search titles only
By:
Search titles only
By:
Log in
Register
Search
Search titles only
By:
Search titles only
By:
More options
Toggle width
Share this page
Share this page
Share
Facebook
Twitter
Reddit
Pinterest
Tumblr
WhatsApp
Email
Share
Link
Menu
Install the app
Install
Forums
Law Firm Events
Law Firm Deadlines
TCLA TV
Members
Leaderboards
Premium Database
Premium Chat
Commercial Awareness
Future Trainee Advice
Forums
Aspiring Lawyers - Applications & General Advice
General Discussion
Free Practise Exercise: Practise for Group Exercises and Case Studies with this Article!
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="pinkpineapple" data-source="post: 138118" data-attributes="member: 27802"><p><strong>Summary of article</strong></p><p></p><p>Google's launch of its AI technology, named Bard, featured Bard answering a question incorrectly which caused a decline in the value of Google's parent company, Alphabet. This may be compared with the high profile and successful launch of ChatGPT, the AI technology produced by Google's rival Microsoft.</p><p></p><p><strong>Companies trying to compete with OpenAI</strong></p><p></p><p>The Chinese search engine Baidu has released an AI chatbot named Ernie. Within the legal sector, Allen & Overy has rolled out its own AI technology called Harvey.</p><p></p><p><strong>Advantages and disadvantages of ChatGPT</strong></p><p></p><p>The principal advantage of AI chatbots such as ChatGPT is their time-saving capability. The bots can scour and process masses of information, providing people with answers they would take much longer to find themselves, as well as conduct tasks such as drafting documents. This could increase efficiency where AI is used. However, this is tempered by the fact that AI technology is still in its relative infancy, so the bots can and do make mistakes. Therefore, people may need to spend time going over the work done by bots, to check its accuracy.</p><p></p><p>As noted by ALYH, AI could improve customer service. In this vein, AI could also save private individuals money and make professional advice more accessible, for example by providing an answer to a legal question where a costly consultation with a lawyer would otherwise be necessary. This could also be applied to personal finance or business questions. However, if the bots continue to make mistakes, their use could result in the people following their 'advice' to their own detriment. Further, there may be questions raised as to how the personal data of users is used and retained by bots.</p><p></p><p><strong>Legal standpoint- practice areas</strong></p><p></p><p>The large-scale use of AI raises a number of potential legal issues. Firstly, it is possible AI bots may produce results that constitute intellectual property breaches or that are negligent. The latter is particularly a risk in the professional context (where AI is provided as a service or tool for consumers). Therefore, practice areas such as IP and litigation might see an increase in work. Further, teams working in insurance may benefit.</p><p></p><p>The current AI boom means many companies, particularly within the technology sector, are seeking to invest in AI startups. Therefore, there is a work opportunity for practice areas such as M&A and investments, as well as competition.</p><p></p><p>Finally, AI software requires hardware such as chips. Much of this software is manufactured in emerging markets. Therefore, practice areas relating to supply chains and logistics may benefit.</p><p></p><p><strong>Legal standpoint- advising clients</strong></p><p></p><p>Firms which already have a presence in the technology sector will be well placed to advise clients looking to expand into it regarding risks involved in mergers/acquisitions and investments as well as tech procurement. Further, firms with an array of joined-up teams across different practice areas will be able to more effectively advise clients re AI, given how the issue straddles various practice areas.</p><p></p><p>Finally, and as ALYH mentions, law firms can utilise AI in providing services to clients. For example, clients may be able to get a quick prediction as to the outcome of a potential case through AI on a firm's website, before meeting with lawyers. Alternatively, client service may be made more efficient behind the scenes and thus cheaper through the use of AI to carry out legal research answer draft documents.</p></blockquote><p></p>
[QUOTE="pinkpineapple, post: 138118, member: 27802"] [B]Summary of article[/B] Google's launch of its AI technology, named Bard, featured Bard answering a question incorrectly which caused a decline in the value of Google's parent company, Alphabet. This may be compared with the high profile and successful launch of ChatGPT, the AI technology produced by Google's rival Microsoft. [B]Companies trying to compete with OpenAI[/B] The Chinese search engine Baidu has released an AI chatbot named Ernie. Within the legal sector, Allen & Overy has rolled out its own AI technology called Harvey. [B]Advantages and disadvantages of ChatGPT[/B] The principal advantage of AI chatbots such as ChatGPT is their time-saving capability. The bots can scour and process masses of information, providing people with answers they would take much longer to find themselves, as well as conduct tasks such as drafting documents. This could increase efficiency where AI is used. However, this is tempered by the fact that AI technology is still in its relative infancy, so the bots can and do make mistakes. Therefore, people may need to spend time going over the work done by bots, to check its accuracy. As noted by ALYH, AI could improve customer service. In this vein, AI could also save private individuals money and make professional advice more accessible, for example by providing an answer to a legal question where a costly consultation with a lawyer would otherwise be necessary. This could also be applied to personal finance or business questions. However, if the bots continue to make mistakes, their use could result in the people following their 'advice' to their own detriment. Further, there may be questions raised as to how the personal data of users is used and retained by bots. [B]Legal standpoint- practice areas[/B] The large-scale use of AI raises a number of potential legal issues. Firstly, it is possible AI bots may produce results that constitute intellectual property breaches or that are negligent. The latter is particularly a risk in the professional context (where AI is provided as a service or tool for consumers). Therefore, practice areas such as IP and litigation might see an increase in work. Further, teams working in insurance may benefit. The current AI boom means many companies, particularly within the technology sector, are seeking to invest in AI startups. Therefore, there is a work opportunity for practice areas such as M&A and investments, as well as competition. Finally, AI software requires hardware such as chips. Much of this software is manufactured in emerging markets. Therefore, practice areas relating to supply chains and logistics may benefit. [B]Legal standpoint- advising clients[/B] Firms which already have a presence in the technology sector will be well placed to advise clients looking to expand into it regarding risks involved in mergers/acquisitions and investments as well as tech procurement. Further, firms with an array of joined-up teams across different practice areas will be able to more effectively advise clients re AI, given how the issue straddles various practice areas. Finally, and as ALYH mentions, law firms can utilise AI in providing services to clients. For example, clients may be able to get a quick prediction as to the outcome of a potential case through AI on a firm's website, before meeting with lawyers. Alternatively, client service may be made more efficient behind the scenes and thus cheaper through the use of AI to carry out legal research answer draft documents. [/QUOTE]
Insert quotes…
Verification
Our company is called, "The Corporate ___ Academy". What is the missing word here?
Post reply
Forums
Aspiring Lawyers - Applications & General Advice
General Discussion
Free Practise Exercise: Practise for Group Exercises and Case Studies with this Article!
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…