Last week, I was speaking at a conference in Singapore on the impact of artificial intelligence (AI) on the practice of law. On my panel were lawyers from four different continents and it was clear that we were all falling over ourselves to incorporate AI into our respective law firms.
Since every firm was already using AI for drafting (from simple memos and client communication to basic contract drafting), much of the discussion revolved around how to do that effectively: the prompts we were using and the workflows we'd designed. Others had invested in due diligence products, using AI to review documents so that it could quickly surface risks in merger and acquisition transactions that lawyers could then address during negotiations and contract drafting. We were all using AI for research, whether it was to quickly generate summaries of current positions in law or just identify issues that could apply given the particular facts of the case.
For the most part, this drive to incorporate AI into as many aspects of the business of law as possible comes from the pressure we all face from clients to improve the efficiency of our services. But at the same time, these very same clients impose constraints on the ways in which we can use AI, prohibiting us from training it on any information they give us and often going so far as to say that even the queries we ask of AI should not contain any sensitive client information.
Esta historia es de la edición November 13, 2024 de Mint Mumbai.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición November 13, 2024 de Mint Mumbai.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Unregulated and volatile: Is crypto worth the gamble?
India’s crypto landscape is a complex mix of volatility, cybersecurity risks and regulatory gaps
A 'dark' tour of Ukraine's war-ravaged cities
Tour companies are offering thrill-seeking tourists packages to visit sights of tragic events, hoping to make money and raise awareness
Shades of art and coffee
A Mint guide to what's happening in and around your city
AI effect: Business efficiency but puffed-out workers?
Upskill. Upgrade. Retrain. Reskill. Words that are sprinkled liberally in the business updates of many listed firms of India Inc. While companies have begun to boast of their fast-increasing count of workers skilled in the use of artificial intelligence (AI) tools, for us employees, the quickened pace of upskilling seems to be a race. A race that many did not volunteer to participate in, but cannot afford to watch from the sidelines. It is ironical that AI, which is expected to ease business complexities, may end up exhausting employees being pushed to Upskill, Upgrade and Retrain.
Here's how India can address the emerging scarcity of fresh water
It's time for the country to invest in future supplies through desalination plants that could be set up along our vast coastline
It won't be easy for Bessent to fix US finances but he should
Trump's chosen Treasury secretary will face a daunting challenge
India should consider a jobs-linked incentive scheme
Employees Provident Fund Organisation (EPFO) data shows that around 12-13 million formal jobs are added every year. This is good news. On the other hand, data from the Centre for Monitoring Indian Economy reveals an unemployment rate that has ranged from 7.2% to 9% this year.
Small government: Back with a bang or whimper?
Trump's push for a drastic scale-back of the American state could be a test case for others. Get it right, the economy booms. Get too radical, and big-bang reforms could backfire badly
How to keep your FIRE alive: Smart financial planning tips
Financial experts came together at the Mint Money Festival 2024 to discuss FIRE (financial independence, retire early), how to execute it, and things to look out for along the way.
Who doesn't love cash transfers but are these really the answer?
These schemes are easy to run and popular but do little to reduce the disadvantages women face