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The January edition of Commercially Connected is hot off the press! Read up on the latest developments in #CommercialLaw

Program Audio Recording | Big Data, Big Problems: The Legal Challenges of AI-Driven Data Critical elements relating to AI and data from a CLE program at the Business Law Section Fall Meeting 2023. Listen: https://ow.ly/HvXI50ShEip Not an ABA Business Law Member? Join today for this AI-related content and more: https://ow.ly/kNji50ShEis] #ArtificialIntelligence #BusinessLaw #AI

Ever wish contracts could just write themselves? Well, with AI they kind of do! And with tools like 𝗖𝗢𝗥𝗔 𝗔𝗜, you get precise, risk-free drafts without all the legal jargon headaches! Ready to draft like a pro? Read our latest blog to learn more https://lnkd.in/d52Wa8_V #ContractManagement #LegalTech #ArtificialIntelligence

AI feels like magic right up until it spits out garbage! That's why the content it is based on is so important to what it outputs and Lexis+ AI is uniquely positioned here for the legal market with exclusive access to LexisNexis Legal Research and Practical Guidance content. This includes titles such as Halsbury's Laws of England - the only comprehensive narrative statement of the law of England and Wales, containing law derived from every source. Unique to LexisNexis, it provides a trusted encyclopaedic source to answer questions across all areas of law. The ability to search, summarise and draft with AI can be game changing but you have to always know what it is based on and with Lexis+ AI you will have linked citations to verify any output. https://lnkd.in/eqmHsnX2

Get the first draft based on client’s facts in minutes with the applicable law and linked legal citations with Lexis+ AI. Lexis+ AI delivers trusted results in a familiar, easy-to-use interface with linked legal citations, combining the power of generative AI with proprietary LexisNexis search technology and its leading authoritative content, including the vast primary, secondary, analytical content and expansive Practical Guidance modules. Lexis+ AI is now commercially available in Australia, following successful trials with over 300 Australian legal practitioners. Learn more: https://ow.ly/8efC50SauQF #LexisNexisAU #AIsolutions #legalai #auslaw #lexisplusai #generativeai #legaltechinnovation

In an article published by Bloomberg Law, MoFo’s Paul Goldstein, Christiane Stützle, and Susan Bischoff discuss the EU AI Act, a risk-based, product-safety approach, that was not originally intended to address #copyright issues related to #AI. However, the rapid emergence of publicly available #generativeAI applications prompted EU lawmakers to make some last-minute copyright-relevant additions with significant practical implications. Learn more: https://bit.ly/3VHKpsa

https://lnkd.in/gaviH6GB AI cuts through legal mumbo-jumbo, empowering you to grasp contracts effortlessly. No more lawyer-speak leaving you confused - let technology demystify the jargon. Simple, straightforward understanding for all. Click the link for the full article. #legalesedecoder #Legal-document-to-plain-english-translator #AIlegalesedecoder #advancedartificialintelligence #navigatinglegaljargon #InstantlyInterpretFree:LegaleseDecoder

Thanks for hosting John Craske and CMS UK. As ever, once you start thinking about these kind of problems you start to see how hard they are to solve, but we’ll never get anywhere if we don’t start. One particular element that came up in our table’s discussion was the particular significance of ‘accuracy’ as a specific outcome requirement in the law. When using AI to help you with, say developing a sales plan, there’s more leeway for interpretation and using AI as a starting point. But if people are replying on AI tools to make legal decisions, accuracy becomes arguably the most important factor in a tool’s utility. Having said that, how long accuracy will be an issue if we move to a more SLM-world is an interesting question.

Should there be a 'Kitemark' for the output of Legal AI?💡 This was one of the questions posed by the Legal IT Innovators Group (LITIG) last week to a collective of law firms and legal tech companies, including Orbital Witness. The argument that supports a 'Kitemark'-style approach is that it involves a third party certification that law firms and other consumers of Legal AI can use to trust and compare products. This approach was generally felt to be the most ambitious and far-reaching of a range of possible options for benchmarking Legal AI that were put forward for discussion. However, the complexity of a one-size-fits-all certification, and the onus it might put on Legal AI suppliers, were raised as concerns by some of the law firms and suppliers present. Can AI insurance fulfil the role of a 'Kitemark' already? 🤔 We announced the launch of 'AI Reliance Insurance' at the end of June (see links in the comments). This is a bespoke insurance policy that covers the accuracy of one of our Legal AI products used by property lawyers so that they can rely on the output. Like a 'Kitemark' or certification, AI insurance involves a third party (the insurer) evaluating the workings and accuracy of a Legal AI product. The availability of AI insurance denotes the confidence the insurer has in the output. AI Insurance is of course not the same as a certification. It is a commercial risk management product, not a common frame of reference or an objective standard that is agreed upon by an industry. However, in two aspects at least, AI insurance is perhaps more useful than a certification: (1) Insurance involves regular auditing of the Legal AI output - it isn't a snapshot or point-in-time assessment. This is especially important in an arena where products and the LLMs that power them are developing and changing all the time. (2) Insurance delivers something of value to a law firm that a certification does not - it pays out in the event that something goes wrong! --- The conversation LITIG has sparked is only just getting started. The group is working towards the development of a consultation paper to engage the wider industry on the subject. I encourage others to get involved.

https://lnkd.in/gzMMTpPf George Clooney urges Joe Biden to exit the race. Biden's performance in debate leaves him struggling, claim Democratic leaders. But how does one decode political jabber? Enter AI Legalese Decoder! This fantastic tool simplifies complex language, perfect for understanding political debates. Say goodbye to confusion. Try it now, free with no registration! Click the link below for the full article. Find a LOCAL lawyer. #Clooney #Biden #AI legal-document-to-plain-english-translator/Try Free Now: Legalese tool without registration Find a LOCAL lawyer Reference link #legalesedecoder #Keywords:Legal-document-to-plain-english-translator #FreeNow #Legalesetool #GeorgeClooney #JoeBiden