{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Episode 194: Future 50 Series \u2013 What the future of AI holds for the legal industry","description":"In this session, we spoke with Beth Patterson, the Founder and Director of legal industry-focused tech consultancy, ESPconnect and an Adjunct Professor (Industry) at UTS Faculty of Law. Beth\u2019s career has the distinctive hallmark of being groundbreaking. The depth and breadth of her experience in tech and legaltech, in tech companies and law firms, as a consultant and educator, means she has a highly practical, global and unique perspective on where AI in the legal industry is going today. Our discussion began with context - placing generative AI in the broader AI continuum - and moved into its impact on the legal industry. We are all still experimenting (testing and investing) in every industry, legal included, and we should be because there are still major issues with the tech that need to be worked out. However, what was also clear from our chat is the need for us to engage with the tech NOW because it\u2019s not going away, not ever! Senior management in law firms know this (as do our clients) and they\u2019re driving the engagement with it, something that makes this tech journey different from others. What AI will we end up with at the end of this journey? Beth opines it will be a portfolio - a combination of enterprise-wide tech and point solutions, with commercial models driving the selection of what you use, for what and when. But, integration will also remain key; data governance critical; and capabilities to identify pain points, choose and use\/apply fit-for-purpose tech increasingly part of every solution and BAU. The opportunities with AI in legal are plentiful for those who jump in \u2013 new roles, new responsibilities, new practice areas (or expanded), new revenue streams, increasingly refined LLMs that do more and do it better \u2013 it\u2019s a brave old and new world which we will embrace with FOMO (Fear of Missing Out) or JOMO (Joy of Missing Out) \u2013 you\u2019ll definitely want to listen to or watch this session to see where you fall on the continuum! If you would prefer to watch rather than listen to this podcast, you\u2019ll find the video\u202fhere. Resources: Thomson Reuters Institute, Edge International, and ESPconnect: 2023 Australia: State of the Legal Market Report Thomson Reuters, Tech & the Law 2023 Report: Perceptions and Priorities The conference referred to it this session is CLI\u2019s Legal Generative AI Summit 2023 (24 and 25 October) \u2013 you will find the video and podcast recordings here. About the Future 50 Series In the Future 50 Series, we\u2019re chatting with legalpreneurs who, through their ideas and actions, are challenging and transforming legal BAU all around the world. If you would like to recommend people for this Series, please contact us at: CLI@collaw.edu.au. ","author_name":"The Legalpreneurs Sandbox","author_url":"http:\/\/tlpsb.libsyn.com\/website","html":"