The advent of generative AI (gen AI) for legal professionals is much more than just a tech transition. It gives businesses the opportunity to completely transform their ways of working. Yet, as businesses navigate the complexities of AI adoption, the balance between getting the most out of technology and maintaining the integrity of expert-driven work remains a critical consideration.
Today, one of the hottest questions being debated is; can gen AI truly replace human legal professionals?
This article explores the transformative potential of gen AI in legal practice, while critically examining its limitations and the irreplaceable value of human expertise in delivering nuanced, high-quality legal services.
The economic potential of gen AI is enormous. It could boost annual productivity by 1.5%, driving $7 trillion in added economic value over the next decade. And, contrary to popular belief, it hasn’t resulted in mass layoffs across the globe. In fact, a net increase in employment is being driven by the demand for AI-related skills, giving rise to AI-empowered professionals.
That trend is playing out in the legal industry too. Thomson Reuters report, ‘Tech, AI and the Law 2024’ provides a nuanced perspective on the integration of gen AI within the legal profession. The findings reveal an overwhelming 95% of Australian private practice legal professionals believe that while AI is no substitute for thorough legal work, it does serve as a powerful accelerator.
AI may not be perfect, but today it can cut hours of work. And in five years, our “Future of Professionals” respondents predicted those time savings could amount to more than 200 hours per year.
Paired against a backdrop where almost half of Australian professionals (47%) feel they do not have enough time to achieve everything they would like to in their role, the question is not whether to use AI but instead, where to use AI to best unlock its productivity potential – safely.
Legal professionals want to use gen AI to spend less time on administrative tasks and focus more time on challenging, rewarding work. Almost all legal professionals (99%) agree using AI to help with basic admin tasks is ethically acceptable. And, a further 83% of legal professionals are comfortable using AI for research and analysis tasks. This points to the overall excitement to use AI to better manage workloads, avoid drudge work, and accelerate both the speed and quality of outcomes for their clients.
However, 95% believe allowing AI to make a final decision or represent a client in court is a step too far.
When you bring technologies like gen AI to the work of legal professionals, trust is paramount. Today, trust exists in the industry based on the provision of accurate, expert legal advice by highly trained professionals supplemented by reliably sourced content and technology.
With the rise of gen AI, nothing has changed. The expectation for accuracy remains the same. This means that although automated processes can be put in place for routine tasks, the accountability for results must still reside with humans.
The Australian appetite for an AI-empowered legal profession is continuously growing, in parallel to their understanding that businesses cannot afford to sit on the sidelines. While a thoughtful approach to AI adoption is key, there are risks in going too slow. It’s clear that those proactively implementing professional-grade AI tools will gain competitive advantages in both efficiency and business innovation.
This year, 32% of private practice professionals voted for a gen AI legal assistant to be their firms’ next tech investment. Wouldn’t you want to spend more time on human-centric, higher-value work too?
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Catherine Roberts is the senior director of AI and legaltech at Thomson Reuters.
