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Interesting article in the Artificial Lawyer about our Cocounsel Generative AI solution! It is everywhere!

Streamline legal firms data with Goldfinch AI designed by Bizdata. This conversational AI agent facilitates rapid retrieval of insights from your legal data. Formulate inquiries and receive targeted responses derived from contracts, case law, and other relevant sources. Goldfinch AI empowers informed decision-making within your practice. Watch the demo now: https://lnkd.in/eeWAnGWU #LegalTech #LegalAI #ContractReviewAI #LegalResearchAI #LawTech #LegalInnovation #DocReviewAI #EdiscoveryAI #LegalWorkflowAutomation #AIforLawyers #GoldfinchAI #GoldfinchLegal #AIpoweredLaw #LegalNLP #AILegalAssistant #AIContractAnalysis #SmartLaw #CognitiveLaw #LegalChatbot #FutureofLaw #LawTechRevolution #LegalDisruption #AIpoweredLegalResearch

There is a lot of excitement—and hype—around generative AI. Is there anything you’ve found the technology not be that good at for legal purposes? I’ll give you both ends. What it does really well: It can do legal research very well. Particularly if it’s a Casetext or LexisNexis where it’s working in conjunction with a real database in the backend…Second, it does search very well. Summarization? Kills it. I put in a 144 page public complaint, and I said, summarize the complaint, give me a chronology of events, identify the key players and summarize the cause of action. It took five minutes. …Now it still needed a lot of work to be cleaned up and verified, but that’s a pretty good example. Right now, it is not doing complex tasks well. So complex drafting, complex factual analysis when you have not just a single document, but give it a group of documents. The larger the group, the worse the job. It’s not doing very well in the transactional space. I could say, find me an indemnity clause. It will do that. [But] find me the indemnity clause that does X, Y and Z, or here’s a deal X, Y, with all the parameters, it’s not going to do that very well.

🌐 Embracing the Transformative Power of Generative AI in Legal Technology! 🚀 👀 Just as we see with our clients at knowdroids.ai, there is an overall attention paid to #GenAI in the legal industry. See below the summary of an interesting article by David Cohen & Marcin Kriger Generative AI in E-Discovery—Getting Beyond the Hype | The Legal Intelligencer (law.com) https://lnkd.in/eg82xX2A ⚖️ Over the past year, #GenAI has dominated discussions in legal tech, sparking a race among providers to leverage its potential for legal applications. E-discovery, in particular, stands at the forefront of this transformation, with #GenAI reshaping traditional practices by analyzing vast datasets to generate new content, revolutionizing document review tasks. 🚨 For attorneys navigating this paradigm shift, understanding how #GenAI works and integrating it into daily workflows is crucial. Products like ChatGPT and Google Gemini offer a great starting point to explore prompt engineering and the capabilities of #GenAI. However, caution is advised to avoid pitfalls such as ingesting privileged information and verifying the accuracy of AI-generated content. 🛠️ In the realm of e-discovery, groundbreaking tools are emerging, potentially eliminating the need for first-level human review. As #GenAI-based products enter the market, allowing automation of document relevance determination and preliminary privilege review, attorneys face ethical obligations to validate their work and protect client rights. 🤔 While #GenAI's impact is undeniable, widespread adoption hinges on factors like cost reduction and technological refinement. Regardless, staying abreast of these advancements is essential to avoid being left behind in this transformative era. As we stand at this technological crossroads, it's clear that Gen AI is not just a trend but a fundamental shift in legal technology, presenting both challenges and abundant benefits for litigators and the broader legal community. 🤝 At knowdroids.ai, we can help you identify the best use cases for your company and suggest where to start with a PoC. With already developed PoC’s directly for legal professionals, we can support with insights. Read more and connect at knowdroids.ai –> Multiply the speed, efficiency and knowledge utilization of your organization with AI autonomous agents. 🔗 #LegalTech #GenerativeAI #EDiscovery #DigitalTransformation

"Welcome to our comprehensive blog series: 'Exploring AI and the Legal Profession: A Journey Through 50 Blogs.' In this extensive exploration, we delve into the dynamic intersection of Artificial Intelligence (#AI) and the legal sphere, spanning a diverse range of topics over 50 enlightening installments. From understanding the fundamental principles of AI to its practical applications in legal research, contract analysis, and decision-making, each blog offers invaluable insights and actionable strategies for legal professionals. Join us as we navigate the evolving landscape of AI in law, addressing ethical considerations, embracing collaboration with technology, and shaping the future of legal practice. Get ready to embark on a transformative journey that empowers you with the knowledge and skills needed to thrive in the AI-driven legal world. Stay tuned for weekly updates as we uncover the potential of AI to revolutionize the legal profession and pave the way for a more efficient, equitable, and innovative legal system. #AIinLaw #LegalTech #FutureofLaw #LegalInnovation"

MTC: AI vs. Traditional Web Searches: A New Era for Legal Professionals As AI-driven search engines like Perplexity.AI and Google Gemini redefine how we access information, the legal profession stands at a crossroads. Discover how these technological advancements could transform legal research, the potential challenges they bring, and how lawyers can adapt to stay ahead in this evolving landscape. — The Tech Savvy Lawyer https://buff.ly/46Q1c03 #LegalTech #AIinLaw #LegalInnovation #FutureOfLaw #AIRevolution #TechSavvyLawyer #TheTechSavvyLawyer

MTC: AI vs. Traditional Web Searches: A New Era for Legal Professionals As AI-driven search engines like Perplexity.AI and Google Gemini redefine how we access information, the legal profession stands at a crossroads. Discover how these technological advancements could transform legal research, the potential challenges they bring, and how lawyers can adapt to stay ahead in this evolving landscape. — The Tech Savvy Lawyer https://buff.ly/46Q1c03 #LegalTech #AIinLaw #LegalInnovation #FutureOfLaw #AIRevolution #TechSavvyLawyer #TheTechSavvyLawyer

🚀 Anthropic's AI Becomes More Accessible & Powerful! 🤖 🔍 Anthropic has just revamped its conversational AI, Claude 2.1, making significant strides in cost efficiency and performance - a game-changer in the rapidly evolving tech landscape! 🌍 📚 For Lawyers, Here's the Exciting Part: Enhanced Understanding: Claude 2.1 boasts a 200K (up to 500 pages 😯 ) token context window, ideal for digesting lengthy legal documents with precision. Increased Accuracy: Expect a 30% drop in incorrect responses and a significant decrease in false claims, making this AI a reliable partner for complex legal analysis. Advanced Integration: The new 'tool use' feature allows Claude to interact with a range of APIs and systems, streamlining our legal research and data processing tasks. Customization: The updated system prompts and development tools enable personalized AI interactions, aligning with specific legal needs. 🔗 Check out the full details here https://lnkd.in/drNkTk5X #LegalTech #AIRevolution #InnovationInLaw #Claude2.1 #FutureOfLaw #NeuroSense

Would the ability to check and verify the sources used to create an output in a legal AI platform provide more confidence in using them? Have a read of vLex's new blog focussed on checking not only the accuracy of quotes and analysis, but that each citation actually exists. #legalai #genai #legaltech #vlex #vincentai

Unlock the full potential of AI in the legal industry with EnidiaAI's cutting-edge solutions. From automated communication tools to semantic search capabilities, Enidia AI is revolutionizing the way lawyers interact with technology. Learn more about this amazing tool now 👇 ------------- Stay updated on the latest legal tech innovations and tools with our free daily newsletter: 🆓 https://lnkd.in/gev_UBwT 🆓 ------------- #RobotLawyer #AiLawyer #AiInBusiness #LegalTech #ArtificialIntelligence #AiTools