Outsmart The Future
Today in Everyday AI
6 minute read
🎙 Daily Podcast Episode: What’s going to happen to the business of law with AI? How will lawyers be impacted and what effect will it have on us? Give it a listen.
🕵️♂️ Fresh Finds: Using AI to gamify your productivity, a new AI health startup, and how close are we actually to global AI regulations? Read on for Fresh Finds.
🗞 Byte Sized Daily AI News: Samsung launches GenAI model, Amazon invests in new LLM and Meta’s AI policy for political campaigns. For that and more, read on for Byte Sized News.
🚀 AI In 5: Getting consistent styles out of AI image generators can be difficult. Midjourney’s new tuning feature fixes that issue! See it here
🧠 Learn & Leveraging AI: In what ways could we see AI show up in law and how does it affect the everyday person? Keep reading for that!
↩️ Don’t miss out: Did you miss our last newsletter? We talked about transitioning to an AI-first world, ChatGPT's 9 biggest updates from Developer Day, and actors vs AI. Check it here!
How AI Will Transform The Business of Law ⚖️
What's going to happen to the business of law with AI?
How will lawyers and attorneys be affected? Will AI help to improve the role of lawyers and how law is conducted?
Enam Hoque, Consultant at LawBeta, joins us to discuss AI and the future of law.
From the perspective of those in law and those affected by it, we cover a variety of areas.
Also on the pod today:
• How AI can help lawyers 🤝
• How AI will change the law landscape 🏛
• AI vs. professional law 🤖
It’ll be worth your 36 minutes:
Subscribe and listen on your favorite podcast platform
Upcoming Everyday AI Livestreams
Thursday, November 9th at 7:30 am CST ⬇️
Here’s our favorite AI finds from across the web:
New AI Tool Spotlight – BeeDone uses AI to gamify your productivity, Codebay helps you learn Python with an AI tutor, and Mayday is an AI scheduling co-pilot.
1. Samsung Unveils Generative AI Model 📱
Samsung Electronics has stepped into the generative AI arena with its new model, Samsung Gauss, designed specifically for integration into its devices. This technology aims to enhance consumer experience through smarter device control and features like language generation for composing emails and translating content. Samsung Gauss also aids developers in writing code more efficiently and includes an image generation/editing feature.
2. Amazon's "Olympus" Aims to Rival AI Giants 🚀
Amazon is channeling millions into "Olympus," a large language model with a staggering 2 trillion parameters, positioning it to potentially outpace OpenAI's GPT-4. The initiative unites top talent from Alexa AI and Amazon's science team. With "Olympus," Amazon not only aims to compete with industry leaders but also to advance the frontiers of artificial general intelligence.
3. Meta's Transparency Move on AI-Altered Ads 🗳️
Meta has announced a new policy requiring political campaigns to disclose any artificial intelligence alterations in their ads. Set to take effect at the start of the next year, this move comes ahead of the U.S. presidential primaries. The policy aims to increase transparency and inform users when they are viewing content that has been modified using AI technology.
4. IBM's $500 Million AI Venture Fund 💵
IBM has announced a $500 million investment fund dedicated to generative AI startups that serve enterprise customers. The fund will target startups at various stages, without a fixed number of investments or a set timeline for capital deployment. IBM's focus will be on startups that offer specialized tools for industries like healthcare or specific business processes, ensuring they don't compete heavily with IBM's own ventures.
5. Google's Generative AI for Advertisers 📢
Google is introducing generative AI tools to revolutionize ad creation, catering to both ad agencies and businesses lacking creative departments. These tools can craft unique headlines, descriptions, and images for ads, ensuring no two businesses have identical visuals. The AI-powered ad creator is integrated with Google's Performance Max campaign service, offering advanced image editing features like those in Google Pixel 8's Magic Editor.
Midjourney’s New Tuning Feature! ⚙️
Getting consistent styles out of AI image generators can be difficult.
But with Midjourney’s new tuning styles, you can get exactly what you’re looking for!
We’re showing you Midjourney’s new feature and how it works!
🤷♂️ What’s Going On and Why It Matters:
Will AI be fighting our legal battles anytime soon?
However, Generative AI is completely changing the business of law.
Real talk though — Enam’s got the chops when it comes to AI in the law. He has an extensive legal background and professional experience spanning over 20 years with stops at big law firms, Moody’s and more.
And he didn’t disappoint in setting the record straight on where the legal industry is headed in the age of the GenAI boom.
In short, Enam sees big changes in the near future for the legal scene. Large Language Models are too disruptive of a technology to NOT have a large impact.
In short, LLMs are gonna take away the need for lawyers to spend as much time on the tedious tasks and they’ll be able to laser focus on more creative and strategic thinking for clients.
- The potential for large language models to streamline legal analysis and identification of important issues in documents
- Ethical issues related to AI usage, including diligence in legal representation and addressing biases in AI systems
- Cautionary approach towards AI adoption, evaluating its appropriateness for specific problems and using AI for repetitive tasks and potentially impactful work
- Potential use of AI to generate high-quality legal arguments by incorporating principles from various sources
Alright, let’s talk about what all this means and break it down.
🦾How You Can Leverage:
OK, so we don’t gotta run and hire a robot lawyer anytime soon.
He set the record straight, laid out big changes in store for the legal industry, and even broke it down for us everyday (non-lawyer) peeps!
Here’s what we can takeaway 👇
We had some wild thoughts, but Enam set the record straight.
Sure, (human) lawyers are doing a ton of manual knowledge work, something LLMs do REALLY well. (Like when GPT-4 beat 90% of lawyers trying to pass the bar.)
Enam emphasized that the performance of lawyers in traditional assessments such as the LSAT and the bar exam may not necessarily translate into success in the legal profession.
And most importantly, the combination of humans using AI can far surpass the most promising AI models on their own.
Try this: Check out a project Enam is affiliated with: LegalBench. It’s a collaborative effort to create a benchmark for evaluating legal reasoning in large language models. (If you’re a LLM dork or really care about legal and tech, this is a fascinating read!)
2 – Caution is key with AI+legal 🟡
Whether you’re a lawyer or not, Enam said caution is key when looking to integrate GenAI into your legal strategy.
While the potential for AI technology to transform the business of law is crazy big, it's crucial to approach AI solutions with caution. Baby steps, even if others are trying to sprint.
Try this: While AI is a powerful tool, you’ve gotta do your due diligence when evaluating how, where (and why!) to use it in the legal scene.
3 – Lawyers’ roles will change ♻️
Like we talked about on today’s livestream, so much of a lawyer’s job is reading, analyzing and writing.
Which happens to be a strength of Large Language Models.
Enam sees a near future where GenAI will do some of the heavy lifting with more tedious, knowledge-based busy work. Instead, he sees those in the legal field being able to focus more on strategic thinking while serving clients.
Try this: We love giving you deep dive articles that make y’all think. This article from McKinsey & Company takes a look at how lawyers may end up piloting the legal process more so than actually driving it.
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