Over 50% of Lawyers Reveal Plans to Implement GenAI - and That's Just the Beginning

March 22, 2024

There’s panic over the future of AI, where data is stored, and how it’s changing jobs

But, how is it changing highly skilled roles in the Legal sector for the better?

Based on the responses of 100+ in-house lawyers, Juro‘s 2023 Tech GC Report assesses the biggest challenges and priorities for Legal leaders, as they look to scale their business.  

With stretched budgets across departments in all organsiations, teams are expected to do more with less – including Legal.  

‘75% revealed that their Legal headcount is frozen or decreasing.’  

Despite figures like this, there is a way to navigate limited resources: welcome, GenAI.  

‘The adoption [of GenAI] by high-growth companies – and especially by their in-house Legal teams – is inevitable. We have reached an inflection point where Legal teams who successfully harness the power and potential of GenAI will have a material competitive advantage over those who don’t.’  

Legal’s new low-cost friend

The use of GenAI is set to increase rapidly, with Juro commenting on how they expect to see a jump by its next report in 2024.  

‘64% of respondents said their businesses are using, or are planning to use, GenAI in their operations.’  

The technology is low-cost and scalable, meaning Legal can become a more strategic partner to businesses, as it reduces, or even eliminates, the time spent on mundane, low-value tasks.  

So, how can GenAI help Legal?

  • Helping bots – saving time spent answering repetitive questions, by answering FAQs or redirecting users to useful resources.  
  • Drafting simple contracts – while making complex contracts easier to understand.  
  • Reviewing or analysing contracts – using AI-enabled tools to review documents, suggest improvements and analyse certain points.  

Why Legal should be wary of its new friend

Like any fair argument for technology, users will experience drawbacks. It’s understandable when dealing with sensitive information, especially in the Legal field.  

The potential risks and roadblocks include:  

  • Cybersecurity and confidentiality – what is happening with the data? Will it be compromised?  
  • Privacy  
  • Lack of guardrails  
  • Lack of information or experience – how can users make the most of these tools?  
  • Platform fatigue – many users are reluctant to keep learning how to use new tools, particularly in agile workflows  

The future is digital, but with that comes uncertainty and growing scepticism regarding how to use the tools and where data is stored. Users need to be educated on what should and should not be put into AI platforms, how inputted data gets used, and what to do with the output.  

Navigating the top 3 Legal challenges in 2023

The top 3 responses show just how much time is currently spent on mundane, low-value activities, highlighting a drastic need to change and automate these tasks, especially where technologies are readily available:  

  • 76% – report being buried in low-value work (repetitive, routine, mundane tasks that take time away from the strategic work they were trained to do)  
  • 69% – struggle with limited budget and resources  
  • 49% – struggle to align priorities with the business  

‘39% implemented a contracts platform lately: lawyers are turning to tech and automation, but this can take between 1-6 months. Implementation isn’t agile enough!’  

Ultimately, GenAI makes Legal concepts more understandable to other business users. When evaluating its impact on Legal, think about the power it could have to transform contracting, sourcing, risk and more for the better.  

Check out Juro’s 2023 Tech GC Report here.

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