While artificial intelligence (AI) has streamlined repetitive and mundane tasks for in-house counsel, a lack of education in using AI (and to its fullest potential) can lead to significant risks – and this partner has urged legal departments to implement AI training for in-house lawyers. Thomson Reuters’ 2023 Australia: State of the Legal Market Report , released in August, showed that while 61 per cent of legal departments have started exploring the use of AI, only 7 per cent are actively using the tool in their day-to-day practices. The report further revealed that 39 per cent do not have any concrete plans to adopt AI tools within their practice. However, early adopters of AI and those who master its use will reportedly continue to excel, while those who have a limited understanding of its use within the legal profession will fall behind. In fact, 23 per cent of lawyers have said they would leave their firm for a more innovative one. In conversation with Lawyers Weekly, Hicksons Lawyers partner David Fischl, who specialises in legal digital transformation, emphasised the importance for corporate counsels to master the use of AI to drive better outcomes for clients and their own practice. […]
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