The legal profession is no stranger to change – noting that the change and its impact on the industry may be viewed very differently. But the rapid evolution of technology, particularly artificial intelligence (AI), is presenting a unique set of opportunities and challenges.
Raghu Ramanathan, president of Legal Professionals at Thomson Reuters, recently hosted his inaugural podcast episode with Cindy Thurston Bare, chief data and innovation officer, and Kayla Kotila, senior knowledge & research services manager, from Frost Brown Todd.
Highlights from the conversation include:
- Adoption and Use Cases: Frost Brown Todd has approximately 250 legal professionals actively integrating generative AI into their daily operations with impressive results. This adoption is not limited to specific tasks; instead, AI is being woven into existing workflows, signaling a fundamental shift in how legal work is conducted.
- Measuring Success and Adoption: Success is measured by client satisfaction and efficiency improvements, and the firm uses qualitative feedback and quantitative methods, like A/B testing, to assess AI’s impact. Adoption is widespread across different demographics, with varying use cases depending on experience levels. Junior lawyers are leveraging AI to streamline certain tasks, while partners are using it to enhance their recall and decision-making processes.
- Client-Centric Innovation and Collaboration: One key measure of success for technological implementation lies in its ability to enhance client service. From expediting document review processes to uncovering critical insights for litigation, AI enables the firm to deliver faster, more accurate, and ultimately more valuable services. The importance of open communication with clients regarding their AI initiatives is key. Sharing success stories, addressing concerns, and exploring potential applications collaboratively fosters trust and ensures that AI implementation aligns with client needs and expectations that benefit both parties.
Technology continues to move forward and law firms must prioritize a culture of innovation, continuous learning, and client-centricity to thrive in an increasingly complex and competitive environment. The future of law is not about replacing lawyers with machines but rather empowering them with the tools and knowledge to deliver exceptional legal service.
As part of the Clarity podcast series from the Thomson Reuters Institute, Ramanathan will speak with customers, industry experts and colleagues, bringing perspectives from legal leaders and subject matter experts shaping the industry. The conversations aim to highlight the innovations driving the legal profession as well as the people and organizations implementing new technologies and approaches to maintain a competitive edge in the rapidly changing market.
You can listen to the full conversation on either Apple Podcasts or Spotify.
