As general counsel for a large corporation, I’ve seen firsthand how software and AI have affected the legal profession. Since my first day in this role, compliance and regulatory attorneys were an integral part of our legal team. They were responsible to navigate the complex web of laws and regulations that govern our business. Now, all that has changed.
When our company adopted AI-powered software, I realized quickly the benefits it offered. These sophisticated algorithms and machine-learning systems allowed us to quickly identify and resolve potential compliance issues and prevent them from becoming a problem. All our annual and quarterly reporting requirements were also automated. Even drafted our contracts, the AI reviewed them. We were able to save millions in legal fees and pay less for nearly all of our lawyers because of this new efficiency. In two years, the legal team was reduced to me and my Assistant General Counsel.
Similar results were achieved in patent work. AI-powered software is able to analyze large amounts data faster than human attorneys and pinpoint potential patentable inventions or prior art more accurately than any human attorney. We have eliminated patent agents and attorneys, and instead contract minimal work to outside counsel. Even so, the AI manages all of our portfolio management, renewals, and releases.
I became more dependent on this technology and began to worry about the possibility of making mistakes. Our company implemented a system that allows human eyes to inspect the final results of the AI-powered AI software. This ensures that any errors or missteps are detected and corrected before any actions can be taken.
Despite these concerns software and AI will continue to be a part of corporate and intellectual property law.
As general counsel, I had to adjust to the new realities and find ways to work with these powerful tools. The future is for those who are open to change and can use technology to improve legal services while maintaining quality control.
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If you are skeptical that artificial intelligence will have a significant impact on law practice, here’s a hint: I’m not general counsel. I also didn’t write this article.
To write the article, I used chatGPT and asked the AI to ask: “Please write 300-400 words about how software and AI will affect corporate and patent law.”
I was unhappy with the original result so I asked: “Please revise it to be from 1 st persons perspective of a General Counsel.”
I was still unhappy so I asked the AI to revise the article in order to address concerns about AI and software making mistakes. Also, please include human review as an fail-safe and keep it between 300-400 words.
We are here.
ChatGPT is available*. For a retail store measuring 6,000 sq., ask it to draft a commercial lease agreement. It will be based on your state’s laws. In a strip mall, or in an office building. Ask it to create a persuasive ad for a personal injuries attorney. Ask it to create a song about right-wing extremism, similar to Snoop Dog. I did it and it was quite good!
ChatGPT, as well as other AI and legal software types, is a new concept that you don’t know. It is time to get up-to-speed.
*Note: This site is crashing frequently due to its popularity. Keep trying, you’ll eventually get there.
The post A General Counsel’s View on AI (& ChatGPT), was first published on Attorney At Law Magazine.