GenAI Could Be a CLO's New BFF
Every C-suite executive on this planet is under constant pressure to contribute to organizational growth in a somewhat tangible way. Chief Legal Officers (CLO) are no exceptions. They must see technology as their BFF, as nothing helps more in optimizing and transforming their practices or operations at large. If you are a CLO, you must hear a lot about technologies like generative AI (GenAI). Does it have significant use cases that will help a CLO? The answer is a big Yes.
GenAi is making its inroads into legal practices. Sooner or later, your organization and clients will want to see how you embrace this marvelous technology and bring it under your spell to benefit them significantly. In truth, the scope of GenAi in legal practices is immense. Let’s take the example of legal research. Your paralegals and junior lawyers can pursue new avenues and deliver more value as GenAI accelerates both legal research and first drafts of legal documents.
A GenAI model also has the potential to revolutionize traditional document-related tasks, enhancing everything from contract creation to legal research and document review. Its capabilities extend to writing various legal documents, including subpoena responses and briefs, as well as conducting horizon scanning. GenAI's strength lies in its consistency and accuracy, especially when processing unstructured data like legal documents. When seamlessly incorporated into your legal tech ecosystem, GenAI not only outperforms standard AI solutions but also accelerates value delivery.
In this yearly special issue of CEO Insights, we have gathered a few stories from Indonesia's corporate legal ecosystem. Do let us know your thoughts.