March 29, 2024

GC Guardrails for Gen AI Adoption

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis Corporate legal departments are not standing on the sidelines and waiting to see how the adoption of generative artificial intelligence (Gen AI) technology plays out. One in two (50%) corporate executives say their companies are using Gen AI now for legal matters, 32% say they intend to increase hiring more professionals to take advantage of Gen AI technology...

March 29, 2024

Law Firms: Ask Your Clients About AI Expectations

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis Corporate counsel have made it clear they are expecting their outside counsel to become more efficient in their operations by leveraging the power of generative artificial intelligence (Gen AI) technology, but there is currently a communications gap between the two sides of the table. “While top corporate lawyers have a keen interest in how outside...

March 28, 2024

ESG, DEI and CSR: What In-House Counsel Need to Know

Casual observers of business trends can be forgiven for being puzzled by the alphabet soup of acronyms used in the legal space, but in-house counsel don’t have the same luxury when it comes to the areas of ESG, DEI and CSR. ESG, DEI and CSR—Similar but Different These three terms are distinct but related: ESG refers to the “environmental, social and governance” conduct of a company DEI...

March 22, 2024

Corporate Legal Departments Are Seizing the GenAI Opportunity

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis Every corner of the legal profession has explored the potential uses of generative artificial intelligence (Gen AI) technology in the past year, but the fastest adopters have been corporate legal professionals. The LexisNexis 2024 Investing in Legal Innovation Survey: The Rise of Gen AI at Top Firms & Corporations surveyed executives in corporate...

March 22, 2024

Cyber Security Experts Talk About AI Security

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis The fast adoption of generative artificial intelligence (Gen AI) technology illustrates its tremendous potential in the marketplace, but it’s important to be clear-eyed about the data security considerations as well. “As with any emerging technology, rapid implementation (of Gen AI) could be risky, opening the door to threat actors to exploit...

March 20, 2024

5 Things Litigators Should Look for in a Legal Research Tool

By Deepank Varshney We all learned in law school that quality legal research is critical to the practice of law in any area of the profession. For litigators, pinpointing the most relevant legal issues, case precedents and legal insights often make the difference between winning and losing in the outcome of a dispute. The Importance of Legal Research for Litigators Legal research tool support litigators by efficiently...

March 15, 2024

Law firms hiring AI talent better hurry

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis The hottest jobs in the U.S. right now are the ones that involve expertise in the application of artificial intelligence. New AI-related job listings are up 42% since December 2022, according to a report in the Wall Street Journal on March 5, 2024, while the overall market for new IT job listings have declined by 31% over the same period. This national...

March 15, 2024

Meeting Efficiency Expectations of Corporate Clients with Gen AI

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis The LexisNexis 2024 Investing in Legal Innovation Survey: The Rise of Gen AI at Top Firms & Corporations revealed an intriguing gap in expectations regarding the use of generative artificial intelligence (Gen AI) in law firms between corporate clients and law firm leaders. A large majority (80%) of Fortune 1000 executives expect to see a reduction...

March 15, 2024

How to Write Effective Legal AI Prompts

By Jake Nelson | Sr. Product Manager, LexisNexis Now that lawyers have had time to experiment with generative artificial intelligence (Gen AI) tools and see the breakthrough capabilities of this technology for themselves, they are settling in to think about some of the specific use cases. The most frequently cited applications of Gen AI include conducting legal research and legal drafting according to our 2023 International...

March 08, 2024

For In-House Counsel: 5 Essential Tips for Implementing AI In the Workplace

The emergence of Generative Artificial Intelligence (Gen AI) tools presents a transformational opportunity for companies to achieve greater efficiencies in their workflows, but it also presents new headaches for in-house counsel who are tasked with mitigating risk and ensuring regulatory compliance of business practices. For example, the introduction of Gen AI into the process of screening potential job candidates offers...

March 08, 2024

How to Select a Responsible AI Business Partner

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis The rise of Legal AI — Generative Artificial Intelligence (Gen AI) tools trained for the legal profession — creates an interesting tension for an industry that is deeply rooted in the commitment to principles such as deliberation, risk management and ethical boundaries. The practice of law requires that lawyers proceed very cautiously with...

March 07, 2024

Tech Innovation with LLMs Producing More Secure and Reliable Gen AI Results

By Serena Wellen | Senior Director of Product Management, LexisNexis The introduction of Generative Artificial Intelligence (Gen AI) tools specifically designed for the legal profession is stirring animated conversations about the potential for these tools to transform the way that law is practiced, but perhaps less understood is how the technology making these tools possible is getting better and more reliable. Gen...

March 01, 2024

Legal AI: 3 Steps Law Firms Should Take Now

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis If 2023 was the year that introduced most legal professionals to the emerging world of generative artificial intelligence (Gen AI) technology, then 2024 is likely to be the year when law firms roll up their sleeves and figure out how to adapt their operations to take advantage of the benefits of Gen AI. “Things are moving very quickly, so managing...

March 01, 2024

AI vs. Legal AI, What’s The Difference?

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis It may seem like a distant memory by now, but it was November 2022 when most legal professionals were first introduced to the world of Generative Artificial Intelligence (Gen AI) technology with the commercial debut of ChatGPT. That tool was soon followed by launches of Gen AI offerings from Google, Microsoft and other major tech companies. These open...

February 29, 2024

How Litigation in 2024 Could Shape the Future of Gen AI

By: Mike Swift, Chief Global Digital Risk Correspondent, MLex Generative Artificial Intelligence (Gen AI) is at the beginning of what is likely to become the next wave of technology litigation and regulation. The way these actions play out in the courts and in the hallways of regulatory agencies could have as much impact on how Gen AI is deployed in the U.S. as any law that is ultimately passed by Congress. This is...

February 23, 2024

Are Reports of the Billable Hour’s Death AI Generated?

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis In 1897, when Mark Twain read his own obituary, he was said to have remarked, “reports of my death have been greatly exaggerated.” The billable hour seems to echo Twain’s words with every prediction that a new technology will bring about a new business model for law firms. But could Generative Artificial Intelligence (Gen AI) actually...

February 23, 2024

Law Firms Need to “Fail Fast” When Implementing an AI Strategy

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis Law firms may have been a bit cautious about the emergence of generative artificial intelligence (Gen AI) technology, but they are quickly acquiring Gen AI tools and trying to figure out how to integrate them into their workflows. Legal tech experts advise the best thing they can do right now is take a moment to set their Gen AI adoption strategy. ...

February 16, 2024

Integrating Generative AI into a Lawyer’s Workflow

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis Legal AI — Gen AI tools trained for the legal profession — is transforming the practice of law right now, enabling lawyers at firms who are adopting these tools to draft legal documents faster than ever, according to panelists at one of the featured sessions during a recent Wall Street Journal event for law firm managing partners that was...

February 16, 2024

Law Firms Pursuing New Lines of Business Due to Emergence of Gen AI

By Geoffrey D. Ivnik, Esq. | Director of Large Markets, LexisNexis Nearly one-half of law firms are exploring new billable opportunities and developing potential new lines of business made possible by Generative Artificial Intelligence (Gen AI) technologies, according to our newly released 2024 Investing in Legal Innovation Survey: The Rise of Gen AI at Top Firms & Corporations . In January of 2024, LexisNexis...

February 12, 2024

March Madness Office Pools are Fun, But Are They Legal?

The annual NCAA men’s and women’s basketball tournaments will soon get underway, a time of excitement for college sports fans and an occasion for massive sports gambling in the U.S. Most of this wagering takes place in licensed casinos and sports books, but a lot of it takes place in break rooms and office cafeterias in the form of the traditional office pool. Over a Third of Americans Plan to Take Part...

February 09, 2024

Biggest Law Firms Making Major Investments in Generative AI

By Geoffrey D. Ivnik, Esq. | Director Large Markets, LexisNexis Nearly all large law firms expect their investment in Generative Artificial Intelligence (Gen AI) technologies to increase over the course of the next five years, but a potential gap may be emerging between the very largest firms and their peers. Forty-three percent (43%) of the 200 largest law firms (Am Law 200) have a dedicated budget for investing...

February 09, 2024

The Disconnect Between Law Firms and Clients on Use of Gen AI

By Geoffrey D. Ivnik, Esq. | Director Large Markets, LexisNexis Senior leaders at large law firms and executives in corporate legal departments are largely in agreement that Generative Artificial Intelligence (Gen AI) tools are likely to have a dramatic impact on the practice of law in the years ahead. But there are some notable and intriguing gaps between how firm leaders and their clients are thinking about a future...

January 30, 2024

Generative AI for Legal Professions: 5 Ways Lexis+ AI™ Drives Better Outcomes

How dominant is the buzz in the legal industry about the rise of Generative Artificial Intelligence (Gen AI) in 2024? When Law360 Pulse interviewed some of the leading legal tech experts about 8 Bold Legal Technology Predictions For 2024 , all eight of them were predictions regarding the adoption of AI. Of course, the emergence of Gen AI tools in the legal industry will be felt in different ways by different users and...

January 24, 2024

3 ways AI can help draft legal documents faster

Last year we conducted the most extensive international legal profession study of generative AI and its potential impact on the practice of law, surveying 7,950 lawyers, law students and consumers across the U.S., U.K., Canada and France. Our study found that in-house counsel envision a future in which the practice of law is improved by the use of AI, with 67% of U.S. corporate counsel respondents expecting their lawyers...

January 10, 2024

Corporate Legal Trends for GCs to Monitor in 2024

Corporate executives were forced to navigate some choppy waters in 2023, from the sudden emergence of new Artificial Intelligence (AI) applications and ongoing cybersecurity threats to the challenge of managing significant workforce reductions at many large companies. One common thread for how corporations worked their way through these minefields was the increasingly strategic role of the general counsel. “For...