LexisNexis and Thomson Reuters publish reports on lawyers' attitudes toward AI
LexisNexis and Thomson Reuters published surveys Tuesday gauging the impact that generative artificial intelligence could have on the practice of law.
Thomson Reuters’ Future of Professionals Report: How AI is the Catalyst for Transforming Every Aspect of Work suggests that 67% of respondents think that AI will have a “transformational or high impact on their profession in the next five years,” according to a news release.
Meanwhile, LexisNexis’ International Legal Generative AI Report found that 47% of respondents think that AI will have a “significant or transformative impact on the practice of law,” 45% said it will have “some impact,” and about 7% think that it will have “no impact,” according to a news release.
LexisNexis surveyed 7,950 people, including 3,752 lawyers, 1,239 law students, and 2,959 consumers in the United States, the United Kingdom, France and Canada between March and July. Thomson Reuters surveyed more than 1,200 professionals between May and June. About half of Thomson Reuters’ respondents were based in the United States, and the majority of other respondents were in the U.K., Canada and Latin America.
Thomson Reuters found that legal professionals were positive about the potential of generative AI to improve productivity, curb costs, enhance client service and open up new services and revenue sources. Of those surveyed, 75% thought that it would improve productivity, 67% said it could improve efficiency, 55% said the gains from using the tech would make firms more profitable, and 81% said the tech would open up new services and sources of revenue.
The Thomson Reuters report found concerns too, with 25% citing worries that the tech could compromise accuracy, 19% worried about job losses, 15% data security, and 15% ethics tied to the using AI. Of those surveyed, 17% were concerned AI would lead to the end of the legal profession.
Steve Hasker, president and CEO of Thomson Reuters, said AI could “address human capital issues such as job satisfaction, well-being and work-life balance.”
He said using the tech could free up professionals to perform “complex work that adds value to their client’s needs.”
“We are at a unique moment where we have the opportunity to realize the benefits of human intelligence, thinking and collaboration differently while using the potential of AI to overcome some of professionals’ biggest pain points,” Hasker said in prepared remarks.
Meanwhile, the LexisNexis report found that lawyers see the potential in the technology to tackle a variety of tasks, with 65% saying it could help with research, 56% saying it could assist in drafting documents, 44% with document analysis and 35% writing emails.
The report found that 88% of lawyers have some ethical concerns using generative AI.
“This finding points to a need for legal professionals to work with trusted and ethical companies as they begin to use generative AI solutions in their work,” according to the LexisNexis news release.