Justia Connect Webinars How AI Is Impacting the Legal World: Ask Our Experts

How AI Is Impacting the Legal World: Ask Our Experts

With the rise of AI has come a wave of questions for the legal world, so how do you navigate this emerging technology that seems to be growing every day? Unlock the answers about AI you’ve been looking for with expertise you can rely on. In this 30-minute Q&A session, hear from Justia’s CEO, Tim Stanley, to get your burning AI questions answered. Learn more about how AI is changing the legal landscape, how you can safely use AI in your practice, as well as new AI features Justia has to offer, including our new AI Content Writer. You’re sure to get more comfortable with AI and feel better equipped to move forward with AI knowledge in your toolbelt!

Topics covered include:

Artificial Intelligence (AI) Legal Industry Trends Legal Tech

Agenda:

Introduction

Tim will provide updates on AI technology services and trends, and how they are being used in applications for the legal industry.

Audience Q&A

Duration of this webinar: 30 minutes

Originally broadcast: August 27, 2024 11:00 AM PT

Webinar Highlights

This webinar is divided into section summaries, which you can scan for key points and then dive into the sections that interest you the most.

00:00 Introduction to the Webinar and Speaker

Tim Stanley, CEO and founder of Justia, is introduced as the speaker, with a background in legal technology and law. Tim plans to discuss AI's impact on the legal world, focusing on recent trends and changes. He notes the significant role of ChatGPT in advancing AI and the drastic reduction in pricing for AI services. Tim explains that the decrease in pricing has led to increased usage and accessibility of AI in legal practices.

04:44 AI Trends and Pricing in Legal Practice

Tim discusses the affordability and advancements of GPT-4, highlighting its increased prompt space and reduced pricing. He explains the competitive landscape among AI providers, including Google, Anthropic, and Amazon. The competition has driven prices down, making AI more accessible for legal applications. Tim notes that NVIDIA holds a monopoly in AI chipsets, but other companies are developing their own chips. He emphasizes the importance of selecting the right AI tools for specific legal tasks. Tim advises using established platforms like Microsoft for better support.

10:09 Applications of AI in Legal Research and Practice

Tim explains the widespread use of AI in legal research and practice, noting its integration into everyday tools like Google Workspace. He highlights the affordability of AI, leading to a surge in legal tech companies and applications beyond text, such as graphics and audio. Tim discusses the use of legal data for training AI models, emphasizing the systematic nature of legal reasoning. Tim mentions the availability of legal briefs and contracts for AI training, noting their accessibility through platforms like CourtListener and SEC filings. He stresses the importance of using AI to enhance legal research and contract drafting, while being cautious of potential errors.

18:09 Challenges and Considerations in Using AI

Tim addresses the challenges of using AI in legal research, particularly the risk of inaccurate citations and hallucinations. He compares AI tools like Thomson Reuters and LexisNexis to ChatGPT, noting their ability to segment information better and understanding the law. He highlights the need for careful selection of data sources to avoid irrelevant or poorly written documents.

24:04 Regulatory and Ethical Implications of AI

Tim discusses the regulatory and ethical implications of AI in law, referencing an ABA ethics opinion on AI usage. He critiques the opinion's suggestion that AI could affect billing practices, arguing it may discourage technology adoption. Tim emphasizes the responsibility of lawyers for their work product, regardless of AI usage. He notes the potential for AI to enhance efficiency in legal practice, despite regulatory challenges.

28:07 Future of AI in Legal Services

Tim anticipates more products and services emerging in the legal AI space, driven by decreasing costs and increased accessibility. He notes the regulatory concerns that may hinder lawyers from developing AI-based companies. Tim believes basic legal expertise will become more accessible, reducing costs for legal services. He emphasizes the continued importance of negotiation, litigation, and client acquisition skills in legal practice.

Please note this AI-generated summary provides a general overview of the webinar but may not capture all details, nuances, or the exact words of the speaker. For complete accuracy, please refer to the original webinar recording.

Speaker

Tim Stanley CEO
Justia

Tim Stanley is the CEO and founder of Justia, one of the most visited legal portals in the world. Justia’s mission is to make law and legal resources free for all. Before founding Justia, Tim founded and was CEO of FindLaw. He is the general counsel and on the Board of Trustees of Public.Resource.Org, and was previously on the Board of Nolo and American LegalNet. Tim has a BS and MS from Stanford University and a JD from the University of Michigan Law School.

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