From risk to ROI: The business case for AI governance
Antony Wells
Artificial intelligence has emerged as a transformative force in the legal industry, promising incre(...)
Responsible AI in legal practices: A guide to effective governance and implementation – Part II
Kandace Donovan
Artificial intelligence has emerged as a transformative force in the legal industry, promising increased efficiency, reduced costs and enhanced service delivery. From contract analysis to legal research, AI tools are reshaping the way we work. Yet amid the innovation rush, a critical success factor is often overlooked: Information governance (IG). Without robust governance frameworks, organisations risk not only diminished returns on their AI investments but also significant compliance failures and ethical breaches. As AI adoption accelerates, the business case for implementing strong information governance has never been more compelling.
Building on the foundational elements of AI governance discussed in Part 1, this second instalment explores the practical aspects of implementing and maintaining effective AI governance in legal practices. We will explore specific tactics for implementing an AI governance framework, including choosing and adapting existing frameworks, continuous monitoring and assessment, training and awareness programs, and creating AI ethics committees.
The legal industry is undergoing significant transformations due to the increasing adoption of Artificial Intelligence (AI). AI tools enhance law firms' efficiency in tasks such as document review and predictive analytics. However, AI also introduces challenges, including ethical concerns, data security risks, and regulatory compliance issues.
Digital transformation has long been a buzzword in the corporate world, but for many in-house legal teams, the implementation of new tech is just another item on a very long to-do list. As a Legal IT professional, how do you bring your team over the line?
Like the proverbial woodcutter who’s too busy chopping wood to sharpen their saw, legal professionals can be so overwhelmed with work that there’s no time to stop and adopt tools that might make them more efficient. Technology often ends up being perceived as “just another task”, something to ignore, or even fear.
With case complexities and data volumes on the rise, litigation teams must find new ways to manage, organise, and analyse information efficiently. However, many still rely on outdated technology, limiting their ability to streamline processes and deliver results. For forward-thinking legal teams, adopting modern, AI-assisted technology can create significant competitive advantages.
It's been two years since ChatGPT enamoured the world. When ChatGPT first launched, everybody was amazed at its seemingly magical capability to answer any kind of question in any manner requested by users. Not only was the potential for disruption in the world of knowledge recognised, but the potential for natural language interfaces and voice interfaces to become standard in technology applications was also predicted to change the way software was designed.
If 2023 was the year of ChatGPT and an introduction to generative AI capabilities, as 2024 has progressed, the world has become more and more interested in so-called agentic AI. Agentic AI is an extension of existing generative AI capabilities.
As legal tech vendors, we’re often asked, “What’s the ROI on your software?” Our response is familiar to lawyers and legal professionals: It depends ... on which benefits you care most about. Firms could measure the success of new legal tech implementation in various ways, including cost savings from operational expenses or efficiency increases, risk reduction, client satisfaction, and improved win rates. However, in practice, only a small number of firms are tracking the types of metrics that measure legal tech returns.
In recent years, generative AI (GenAI) has captured the legal industry's attention, moving from buzz to real-world applications within law firms. According to a recent Lexology Masterclass webinar, 94% of participants believe GenAI is here to stay, with 84% viewing it as a competitive advantage. As firms begin implementing AI to streamline the litigation lifecycle, a thoughtful approach is essential for success.
Artificial Intelligence (AI) is making significant inroads in the legal sector, with an impressive 82% of lawyers now either using or planning to integrate AI into their practices. This figure is up from 39% last year according to recent LexisNexis research - underscoring AI’s surging popularity in a profession known for its heavy workloads even if traditionally risk-averse. But while AI powers through data-heavy tasks, its limitations have become more apparent as its use has increased in the legal sector, making clear that it’s no substitute for human expertise. Instead, AI amplifies what lawyers do best, enhancing efficiency while leaving critical judgement, strategy, and client relationships firmly in human hands.
This cybersecurity month, Brian Rogers, regulatory director at Access Legal, part of The Access Group, explores the IT security landscape and how law firms can navigate challenges through investment in the right legal technology.
The digital landscape is more complex than ever. The threat of cybercrime has escalated across many industries - including in the legal sector. Law firms, in particular, are a prime target for cybercriminals, owing to the vast amount of sensitive client information they are responsible for managing, as well as the often large sums of money they handle on behalf of clients.
Welcome to Part II of our exploration into the intersection of Information Governance (IG) and Artificial Intelligence (AI) in today's legal landscape. In Part I, we established the foundational importance of IG as the bedrock upon which AI's transformative potential is built within law firms. We discussed how having accurate and easily accessible data is essential for utilising AI technologies effectively, helping firms work more efficiently, adhere to strict legal regulations, and maintain a competitive edge.
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