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London Futurists에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 London Futurists 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
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Gen AI cuts costs by 30%: lessons from a leading law firm, with David Wakeling

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Manage episode 444623162 series 3390521
London Futurists에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 London Futurists 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.

Our guest in this episode is David Wakeling, a partner at A&O Shearman, which became the world’s third largest law firm in May, thanks to the merger of Allen and Overy, a UK “magic circle” firm, with Shearman & Sterling of New York.
David heads up a team within the firm called the Markets Innovation Group (MIG), which consists of lawyers, developers and technologists, and is seeking to disrupt the legal industry. He also leads the firm's AI Advisory practice, through which the firm is currently advising 80 of the largest global businesses on the safe deployment of AI.
One of the initiatives David has led is the development and launch of ContractMatrix, in partnership with Microsoft and Harvey, an OpenAI-backed, GPT-4-based large language model that has been fine-tuned for the legal industry. ContractMatrix is a contract drafting and negotiation tool powered by generative AI. It was tested and honed by 1,000 of the firm’s lawyers prior to launch, to mitigate against risks like hallucinations. The firm estimates that the tool is saving up to seven hours from the average contract review, which is around a 30% efficiency gain. As well as internal use by 2,000 of its lawyers, it is also licensed to clients.
This is the third time we have looked at the legal industry on the podcast. While lawyers no longer use quill pens, they are not exactly famous for their information technology skills, either. But the legal profession has a couple of characteristics which make it eminently suited to the deployment of advanced AI systems: it generates vast amounts of data and money, and lawyers frequently engage in text-based routine tasks which can be automated by generative AI systems.
Previous London Futurists Podcast episodes on the legal industry:

Other selected follow-ups:

Music: Spike Protein, by Koi Discovery, available under CC0 1.0 Public Domain Declaration

  continue reading

103 에피소드

Artwork
icon공유
 
Manage episode 444623162 series 3390521
London Futurists에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 London Futurists 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.

Our guest in this episode is David Wakeling, a partner at A&O Shearman, which became the world’s third largest law firm in May, thanks to the merger of Allen and Overy, a UK “magic circle” firm, with Shearman & Sterling of New York.
David heads up a team within the firm called the Markets Innovation Group (MIG), which consists of lawyers, developers and technologists, and is seeking to disrupt the legal industry. He also leads the firm's AI Advisory practice, through which the firm is currently advising 80 of the largest global businesses on the safe deployment of AI.
One of the initiatives David has led is the development and launch of ContractMatrix, in partnership with Microsoft and Harvey, an OpenAI-backed, GPT-4-based large language model that has been fine-tuned for the legal industry. ContractMatrix is a contract drafting and negotiation tool powered by generative AI. It was tested and honed by 1,000 of the firm’s lawyers prior to launch, to mitigate against risks like hallucinations. The firm estimates that the tool is saving up to seven hours from the average contract review, which is around a 30% efficiency gain. As well as internal use by 2,000 of its lawyers, it is also licensed to clients.
This is the third time we have looked at the legal industry on the podcast. While lawyers no longer use quill pens, they are not exactly famous for their information technology skills, either. But the legal profession has a couple of characteristics which make it eminently suited to the deployment of advanced AI systems: it generates vast amounts of data and money, and lawyers frequently engage in text-based routine tasks which can be automated by generative AI systems.
Previous London Futurists Podcast episodes on the legal industry:

Other selected follow-ups:

Music: Spike Protein, by Koi Discovery, available under CC0 1.0 Public Domain Declaration

  continue reading

103 에피소드

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