We talk with Michael Bommarito, CEO of 273 Ventures and well-known innovator and thinker in legal technology and education. Bommarito and his colleague, Daniel Katz were behind GPT-3 and GPT-4 taking the Bar Exam. While he and Katz understand the hype in the media reaction, he states that most of the legal and technology experts who were following the advancements in generative AI, expected the results and had already moved on to the next phase in the use of AI in legal.
While we talked to Michael a couple of days before the news broke about a lawyer in New York who submitted a brief to the court relying upon ChatGPT to write the brief and not understanding that AI tools can completely make up cases, fact pattern, and citations, he does talk about the fact that we are falling behind in educating law students and other in understanding how to use Large Language Models (LLMs) properly. In fact, if we don't start teaching 1Ls and 2Ls in law school immediately, law schools will be doing a disservice for their students for many years to come.
Currently, Bommarito is following up his work at LexPredict, which was sold to Elevate Services in 2018, with 273 Ventures and Kelvin.Legal. With these companies, he aims to bring more efficiency and reduce marginal costs in the legal industry through the application of AI. He sees the industry as one that primarily deals with information and knowledge, yet continues to struggle with high costs and inefficiency. With 273 Ventures and Kelvin.Legal, he is building solutions to help firms bring order to the chaos that is their legal data.
AI and data offer promising solutions for the legal industry but foundational issues around education and adaptation must be addressed. Bommarito explains that decades of inefficiency and mismatched data need to be adjusted before the true value of the AI tools can be achieved. He also believes that while there might have been many false starts on adjustments to the billable hour through things like Alternative Fee Arrangements (AFAs) in the past, the next 12-36 months are going to be pivotal in shifting the business model of the legal industry.
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Music: Jerry David DeCicca
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Transcript
Nicole Bradick and Ryan McClead on the Launch of Map Engine and Life as a Startup Founder
Pablo Arredondo on CaseText's New WeSearch Tool and How the Neural Net Is Making Its Way Into Legal Information
Bob Taylor, Valerie Dickerson, and Mark Ross on Deloitte Legal Business Services
Dan Packel on the Rise of Distributed Law Firms
Adam Tsao and The Creativity Playbook for Lawyers
Kate Tompkins on Being a Practice Group Leader But Not a Lawyer
What's Next for Jeroen Plink?
Lex Machina's Karl Harris on the Past, Present, and Future of Legal Analytics
Sophia George and Chevazz Brown: Finding Diverse Lawyers via DiversePro
Geoff Zodda on Legal Industry Employment Trends in a Post-COVID World
Rachel Travers on the New Law360 Pulse
Brightflag's Alex Kelly on Using Data and Analytics to Make Better Legal Spend Decisions
AI for Lawyers with Noah Waisberg and Dr. Alexander Hudek
Nicole Morris on Emory Law Schools TI:GER Innovation Conference
How Mid-Level Associates Can Thrive at Law Firms - with Jennifer Bluestein
Jennifer Bluestein on Stepping It Up: A Guide for Mid-Level Law Firm Associates
The Who, What, and Why of #LegalTech with Kristin Hodgins and Jason Wilson
The Boston Legal Design Challenge Update - Jeff Marple, Bob Taylor, and Aubrie Souza
Tracy LaLonde and The Joychiever Journey
Consumer Arbitration Made Easier with FairShake's Teel Lidow
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