Transcript: Be the disruptor, not the disrupted

Transcript

Trusha Kachhela: Everybody knows that legal teams haven't had to evolve much over the years. But, of course, everybody now knows that it's inescapable.

Sandeep Agrawal: The way the in-house counsel is staffed will change. It will have more of data scientists, more of legal project engineers who are, by the way, lawyers but skilled in AI

A lot of our clients are very excited about using generative AI, but they want to make sure they use it responsibly, and they are working with us to make sure they have the right governance process, they have the right technology understanding, and they have the right team.

Tilly Harries: I think it's really useful that we are sort of testing AI out on ourselves and being at the forefront of it because we can share our experiences with our clients. We can reassure them and we can also show them how we found it to be beneficial.

We can also share the negative sides and some of the risks. You still need a human to make a judgement call. Be wary of things like bias, hallucinations, as we call them, where AI makes up information. So in the same way with the trainee that you need to give clear instructions, you need to do exactly the same thing with Harvey. And when you do, the clearer you are, the more information you give, the better the output.

Trusha Kachhela: What Harvey absolutely is brilliant at is taking away those process-oriented, repetitive, arguably boring tasks. Can you imagine how much capacity that releases and actually what legal departments can then do with that time?

Sandeep Agrawal: So one major investment bank is using generative AI to look into their portfolio companies and their documents to analyse ‘what is my board composition, what are my voting rights’? It would have probably taken us over six months because they have over 500 portfolio companies. We were able to produce that results in 2 to 3 weeks.

Tilly Harries: One of our clients asked us to create a playbook for dealing with the EU Whistleblowing Directive, and we were able to work hand-in-hand with AI to create that. And we were able to do it so much more quickly.

Trusha Kachhela: Harvey and other AI tools can make a huge difference. And I honestly think we're just touching the tip of the iceberg here.

Sandeep Agrawal: I do think the legal industry, which has generally been avoiding using technology before, is now rapidly going to, you know, start using technology and that gives me a lot of excitement.