law

In the legal industry, the traditional model of hourly billing is facing challenges. With the rapid development of generative artificial intelligence, many lawyers are optimistic about the impact of this new technology, believing that it can improve work efficiency and help them better perform tasks such as document writing and contract review. However, many lawyers are also worried that the popularity of AI may weaken their competitive advantage, especially for large law firms that rely on junior staff to handle a large number of complex cases. The future will be full of variables. A survey conducted by PwC shows that about one-third of British law firms believe that generative AI can…

Recently, Harvey and OpenAI announced a partnership to jointly create a custom-trained case law model for legal professionals. This AI system not only has complex reasoning capabilities, but can also handle a wide range of legal domain knowledge and has the ability to go beyond a single model call. It can draft legal documents, answer complex litigation scenario questions, and even identify significant differences between hundreds of contracts. This innovative initiative aims to improve the efficiency and accuracy of legal work and provide strong technical support for legal professionals. Harvey is composed of lawyers with backgrounds in antitrust and securities litigation…