Macnamara Quoted on the Legal Industry’s Adoption of GenAI
Legaltech News
ArentFox Schiff Chief Innovation Officer Ed Macnamara was quoted by Legaltech News discussing the potential of generative artificial intelligence (GenAI) in the legal field, suggesting that while some firms may use it to enhance efficiency, most will likely adopt a cautious approach in 2024 while waiting for further technological advancements.
“While Generative AI has the potential to revolutionize various aspects of the legal field, the question for 2024 remains whether this technology will extend its influence beyond established platforms to make a substantial impact on the business of law. Forward-thinking firms might use it to critically evaluate their existing processes and better invest partner resources to enhance efficiency and effectiveness,” Ed said.
“But the majority will likely adopt a more cautious approach in 2024 — prioritizing revenue generation in the short term and waiting until technological advancements can integrate GenAI into existing software platforms and processes, thereby allowing them to maintain their traditional work methods,” he added.
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