ChatGPT and AI Will Advance Efficiencies in the Legal Industry

Olshan real estate partner Thomas Kearns and employment partner Michael Passarella authored a February 10 article for Bloomberg Law (subscription required) that focuses on the growing popularity of the AI tool ChatGPT and its legal implications in the workplace. The authors examine the ethical implications and other legal areas related to the increased use of AI in the workplace and consider the potential benefits AI could have for the legal industry. When predicting the future of AI in the legal industry, Tom and Mike write, “The possibility that AI may help lawyers service a larger cross-section of clients efficiently is very appealing. The biggest challenge for law firms will be to create and maintain a database of research and document precedents so when document management vendors add AI to their offerings, the database of approved research and deal documents can be analyzed and culled.”