Banner Witcoff’s Josh Davenport was recently interviewed for his thoughts on how generative AI is being used in the legal market for a recent Managing IP article titled “Law Firms: Corporations better placed to take AI plunge…for now.”
The article delves into the slower adoption of AI within the legal profession compared to corporations. Addressing concerns regarding reliability, data storage, and security, Josh emphasized, “It’s vital we do everything we can to make sure we’re protecting those clients’ IP assets when they’re entrusted to us. If we’re inputting information into AI tools, it creates additional problems where we have to make sure that information is secure.”
He highlighted the differing motivators between corporations and law firms, stating, “In the corporate world, your ability to pivot and to innovate tends to be the driver of success. In the legal world, we’re all about being risk-averse and managing client concerns.”
Concluding the article, Josh emphasized the potential for AI tools to enhance efficiencies for clients: “The biggest thing is to understand how to use generative AI tools in a way that can make us more cost effective and at the same time understanding that we’ll never have the flexibility to use AI tools to the extent that businesses can.”
For the full article on Managing IP, you can click here.
Posted: October 30, 2023