Each week a new artificial intelligence (AI) tool is being created. Recently, the Harvey AI was introduced as an “unprecedented legal AI.” Could Harvey change the way your law firm operates?
You will need to be patient to answer this question because Harvey is still in beta, but the tool has the potential to make a significant impact on the legal industry. Similar to ChatGPT, the Harvey AI tool is built on a version of Open.AI’s GPT, but Harvey focuses on the legal industry. In addition to general internet files, Harvey was trained with legal data, including case law. Further, if your law firm uses Harvey, the AI can be trained by your firm’s work product and templates, just like a new employee.
But what does all this mean? Harvey AI can assist attorneys with research, analyzing contracts, performing due diligence, litigation strategies, and more. AI can provide you with recommendations and predictions based on the information you provide it. Harvey AI can deliver quicker solutions in a more cost-effective way for your clients.
Harvey AI’s Test Results
Allen & Overy, a London-based law firm, has had its more than 3,500 attorneys test Harvey AI by asking more than 40,000 questions in their daily work. According to Reuters, David Wakeling, an Allen & Overy partner in charge of the firm’s markets innovation group, said, “I think over time it will be a serious competitive disadvantage” for law firms that do not adopt generative AI. He went on to say, “We’re seeing it as a way of saving our people a couple hours a week-plus” on the time it takes to perform client work.
Of course, everyone agrees that AI is a tool for the attorneys. A human attorney’s review of all work generated by AI is required. Allen & Overy is the first law firm to engage with Harvey AI, but it certainly won’t be the last.
How AI Can Help Your Law Firm
AI provides a wide variety of benefits for your firm and your clients. The tool can assist with many routine tasks, including research and drafting, cutting down on the time attorneys spend on various tasks. In return, time saved translates to lower legal fees for your clients. And let’s not forget, your attorneys will improve their work-life balance.
Concerns With AI
With any innovation comes risk. AI cannot and should not replace the experience and creativity of human lawyers. While Harvey AI is still in its infancy, other AI tools have proven unreliable because they provide incorrect or concocted information.
In the legal industry, there are also significant ethical concerns. Prior to implementing artificial intelligence into your legal practice, you should not only consult with your state’s Rules of Professional Conduct but also review your bar association’s recommendations.
Finally, attorneys must protect their client’s privacy and privileged information. To ensure that confidentiality is maintained when using AI, your firm should vet your AI vendors thoroughly. Your attorneys must also use AI cautiously and responsibly.
Artificial intelligence provides an exciting opportunity for attorneys and their clients. Professional and personal lives will be improved simply by the time-saving impact AI will provide. The possibilities are unknown, but there are many. However, as we venture into this new technological advancement, it is crucial to be thoughtful in how we use AI tools. We must remember that the human mind, heart, and emotions cannot be replaced, no matter how advanced technology gets. In sum, Harvey AI will change the legal profession, but it will not replace the humanity in it.
How The Rainmaker Institute Can Help
Your digital presence is crucial in generating and converting leads. You have worked hard to get where you are, so learn to use technology to your advantage so you can enjoy the fruits of your labor more often while also generating new clients!
The Rainmaker Institute manages your legal marketing so you can focus on lawyering. We will provide content that contains top legal focus keywords, proper page titles, appropriate meta descriptions, target length of content, and images that will boost your attractiveness to Google. In short, we will make great content. We also ensure that your site is mobile-friendly and attractive to potential clients.
If you are ready to take your law firm to the next level and see your Google ranking improve, we can help. Whether you choose to attend one of our live events or you want a free, confidential consultation, we are here to help!