Source: ABA Journal
Unless you’re hiding under a rock, you’ve undoubtedly heard about generative AI tools like ChatGPT. The potential efficiency gains these tools offer legal professionals are mind-boggling—and possibly career-changing. If predictions are correct, many aspects of legal work will be impacted by generative AI, and some functions may even be replaced in the years to come.
Just as generative AI technology has grown at an exponential rate since the start of the year, so too has news coverage of companies racing to market with new legal generative AI products. Last month, a notable announcement came from Thomson Reuters: It had entered into an agreement to acquire Casetext, a legal research software company, for the hefty price of $650 million in cash. The driver behind the acquisition was Casetext’s public release in March of CoCounsel, a cutting-edge legal assistant chatbot that assists with reviewing and summarizing documents, deposition preparation, database search, legal research memos and contract analysis.
Read full article: https://www.abajournal.com/columns/article/the-future-is-now-the-rise-of-ai-powered-legal-assistants
