August 24, 2023 {3 Minute Read}

AI Strategy for Law Firm Leaders

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 CEO’s Roadmap on Generative AI

Source: Boston Consulting Group (BCG)

LawVision's Take

BCG outlines a tri-fold AI strategy: pinpointing strategic AI advantages, equipping your team, and safeguarding the business. This blueprint is equally pertinent for law practices. It’s not about merely purchasing AI, but about sculpting a framework for the future. The legal sector will uncover novel competitive edges, but prompt action is essential to capitalize on these advantages in a timely manner.

>> Deeper Read

Your AI Legal Strategy Framework Part 2

Source: Mark Medice, Principal | LawVision

LawVision's Take

AI strategy requires a faster rhythm. You must get started with engaging new technologies by setting up intelligence streams and creating exploration sandboxes. But you have to build your ethics and compliance foundation, possibly creating new roles like chief AI ethics officers. Law firms and lawyers have a special place in society because of their dual roles as actors and advisors. You must also educate and inspire your people to understand how to properly deploy these technologies for the benefit of your clients, your firm and society overall.

Join the #LawVisionAIStrategyExchange

LawVision's AI Strategy Exchange is a real-time executive roundtable that fosters collaboration, strategy, innovation, and knowledge sharing among a select group of executive participants, specifically in the realm of generative AI. Our inspiration for this initiative came from the identified need for a forum that connects leaders with insights into the strategic implications of AI. Underpinned by 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 worlds, a topic that can be particularly difficult for many firms.

We would love to have you consider participating in the Exchange. Your insights and expertise could make an invaluable contribution to this pioneering initiative.



** 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”

Source: Mark Medice, Principal | LawVision