As GenAI matures rapidly, CLOs and legal departments have powerful new tools at hand—to increase their productivity and even transform the legal function. In-house lawyers will also play a central role in navigating their organizations through the legal and regulatory challenges of ever-improving GenAI.
With Generative AI (GenAI), chief legal officers (CLOs) and their legal departments have the opportunity to transform their operating model while helping guide their organization through the legal implications of use and intellectual property.
The latest generation of GenAI, based on machine learning, will profoundly affect the work of in-house lawyers. For daily administrative activities and routine legal work, GenAI is already boosting productivity and efficiency. More advanced systems can summarize, draft, and analyze documents. In the longer term, GenAI will build compliance into businesses' operating processes and help them identify legal risks at an early stage. Eventually, it will empower people across organizations to undertake everyday legal work for themselves.
CLOs face the challenge of staying on top of new developments, embracing change, adapting to new roles, and ensuring their businesses are leveraging relevant GenAI capabilities. The future promises a more strategic and impactful legal profession, powered by the transformative power of AI—but only if the moment is seized starting now.
Around the world, new laws and regulations are emerging in most jurisdictions. Novel questions of liability and intellectual property are arising. Many in-house lawyers are also expected to be leading the thinking on GenAI ethics. That’s where we excel to help your legal department with: