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Information Management

Management + Business Acumen

Generative AI and Law Firms: A ROI Reality Check

Sunday, July 21, 2024

11:30am – 12:30pm CDT

Room: Regency Ballroom B (West Tower Gold Level)

Moderator/Coordinator(s)

Emily R. Florio (she/her/hers)

Director of Knowledge Research
DLA Piper LLP (US)
Washington, District of Columbia, United States

Slides (PDF)

Speaker(s)

RM

Ryan McClead

Principal
Sente Advisors
Barbara A. Taylor (she/her/hers)

Chief Knowledge Officer
DLA Piper LLP (US)
New York, New York, United States

Wordly Closed Captioning: https://attend.wordly.ai/join/OSME-7073

Generative AI is the current buzzworthy phrase in the legal industry. Products promise to revolutionize the way lawyers draft contracts, research cases, and automate tasks, while reports claim the eventual elimination of various legal jobs and finally ending the billable hour. But is it worth the hype? What is the current ROI of these tools for law firms? Realistically, legal GenAI is still in its infancy and has many limitations and challenges. For it to work well, it requires a lot of data, training, and supervision to produce reliable and accurate outputs. This program will discuss how GenAI is faring in law firms so far and what is likely to happen in the coming year(s).

Target Audience:

Law librarians of any level from any library type interested in learning how law firms are implementing and training lawyers and staff on GenAI tools.

Learning Objectives:

Participants will understand the current state of GenAI adoption and ROI in law firms.
Participants will discover how law firms are currently using GenAI tools and how it is impacting budgets, staffing and workflow.
Participants will gain practical tips and best practices for assessing and implementing GenAI legal tools.