The 2024 Generative AI in Professional Services report from the Thomson Reuters Institute reveals that 81% of legal professionals believe generative artificial intelligence (GenAI) can be applied to industry work, but there are concerns about its responsible use. The report highlights the potential benefits of GenAI, including cost savings, increased efficiency, and improved quality control. However, many professionals are hesitant due to concerns about reliability, accuracy, and the loss of human touch. The report also notes that GenAI is not a replacement for human professionals, but rather a tool to augment their work. As the technology continues to evolve, leaders in the industry must adapt their models to incorporate GenAI, and professionals must develop the skills to effectively utilize it.
Legal Professionals Weigh GenAI’s Potential in Industry Work
Many legal professionals may build their career on the successful incorporation of GenAI into their organization.
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