Registration Now Open

Building on recent discussions regarding our AI Strategy Exchange,

we are pleased to announce registration is now open for our

2023 Fall #LawVisionAIStrategyExchange Launch Event

Details below.

AI Strategy for Law Firm Leaders

August 31, 2023 | Vol 1, Issue 3 | 🕐 5 Minute Read

Welcome to LawVision's AI Strategy Newsletter, a key component of our AI Strategy Exchange program. This newsletter is crafted to be succinct and focused, highlighting what we believe to be the most essential readings on AI strategy. We then contextualize these ideas within the legal sphere, tailoring our insights specifically for law firm leaders.

🗨️ Please share your thoughts with us and feel free to share this content with others!

💡 Must Read

The Sceptical Case on Generative AI

Source: Financial Times

LawVision's Take

All systems are NOT go. Generative AI, despite the intense hype and significant investments from major corporations, faces skepticism due to its inherent unreliability and potential to corrupt future training datasets. While the technology offers immense productivity and problem-solving potential, its limitations could compromise its effectiveness. Analogously, law firms adopting AI should exercise caution. AI can streamline processes and enhance data analysis, but its inherent inaccuracies might jeopardize legal outcomes, necessitating a balanced approach between human expertise and technological assistance.

👓 Deeper Read

Your AI Legal Strategy Framework Part 3

Source: Mark Medice, Principal | LawVision

LawVision's Take

The proliferation of AI technology to non-technical sectors like law is revolutionizing strategic design cycles, prompting a rapid adoption due to its competitive edge. With this "gold rush" towards AI, knowledge-based industries are witnessing significant productivity enhancements, hinting at a potential reshaping of business models. Traditional law firm strategies are being turbocharged with AI, emphasizing both organizational capabilities and individual expertise. For law firms to harness the full potential of AI, they must integrate automated workflows, optimize their business models, and employ data-driven approaches. Embracing small, incremental changes can lead to substantial strategic evolution in this digital age.

Accelerate Your Firm's Response to Today's Challenges & Opportunities

Join the #LawVisionAIStrategyExchange

The need to collaborate and share ideas has never been greater.

In response, LawVision created the AI Strategy Exchange.

The Exchange is a real-time, strategy-focused roundtable aimed at fostering collaboration, innovation, and knowledge sharing among a select group of executive participants interested in exploring and capitalizing on the impact of generative AI. It exists to address the unique challenges faced by law firms in today’s rapidly evolving landscape. Through regular in-person meetings, digital communities, and collaborative projects, Exchange participants will stay current on the latest information and trends, learn from each other’s experiences, and accelerate their firm’s response to opportunities – for their own organizations and their clients – made available by generative AI.

We Bridge the Gap for Law Firm's Between AI & Strategy

With decades of experience in law firm strategy and expertise in AI and data, the LawVision team is uniquely positioned to facilitate this Exchange. It is an opportunity to bridge these areas of expertise, a gap that can be particularly difficult for many firms.

2023 Fall AI Strategy Exchange Launch Event

October 31 | 12:00 to 3:00 PM ET | Virtual

Building on recent discussions regarding our AI Strategy Exchange,

we are pleased to announce that registration for our Fall Launch Event is now open.

This virtual forum promises to be an enlightening experience for all attendees.

Draft Agenda

Keynote Presentation: Delving into AI Strategy

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Discussion: AI Strategy Priorities, Projects, and Emerging Industry Trends

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Ethics in AI: A Panel Discussion

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Quick Flash Tour: Spotlight on Leading Tech Vendors

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The Future Steps of the AI Strategy Exchange



🔔 In Case You Missed It

Troutman Pepper Launches GPT-Powered AI Assistant

LawVision's Take

The Troutman Pepper Athena project underscores that deploying legal assistants in law firms isn't a one-size-fits-all scenario. The dilemma often centers on purchasing a ready-made solution or crafting a unique one. In Athena's case, the decision was to start with an in-house GPT-4 configuration. As the industry progresses, it will become evident that all law firms will need customized strategic applications. The essence of AI strategy is discerning this exact customization. How advanced is your firm in navigating this essential strategic consideration?

🎓 Industry-Leading Learning

AI Strategy Immersion Program: In Rapid Pursuit of Success

Building a strategy focused on fast-moving topics like AI requires a different approach. Assumptions are quickly proven false and new ideas are introduced, which means individual and organizational priorities change – fast. Fostering a design mindset among your lawyers and staff is now a critical business function.

Strategic AI Immersion, Trends, Tools, and Applications

• Learn about what AI is and what it means for law firm leaders
• Why should law firm leaders care about this now?
• Executive-level overview of AI architecture
• Define a pilot project related to data, AI, and its implication for the practice
• Discuss how the above might serve as a template for business model innovation
• Optional: Sandbox a tool using methods above with a LawVision partner or a tool of your choosing
• Consider the ethical implications for data, client confidentiality, and bias
• Learn about a methodical approach to studying, deploying technology

Ready to schedule a complimentary, confidential, one-hour assessment of your firm's current AI strategy (especially if there isn't one)?

📌 Recent Deeper Reads

Your AI Legal Strategy Framework Part 1: Separating the Signal from the Noise with the Help of “Bootleggers and Baptists”

Your AI Legal Strategy Framework Part 2: Your Key AI Enablers

Source: Mark Medice, Principal | LawVision