GENERATIVE AI WILL AUTOMATE 50% of LEGAL TASKS & If Like Platform I Designed for Ag & Real Estate Deals it Will Elevated Humanity Too
Kevin Assemi
Farmer, AgTech, Water & Director Westlands Water District- Leading with Data & Rooted in Relationships
Generative Ai, like ChatGPT, can and will help to streamline and automate the legal profession.
More than 15,000 law firms are on a waiting list to start using Harvey.ai OpenAi Fund Ai legal platform. The reason is obvious as DLA Piper's AI practice chairman put it: "This is an arms race, and you don't want to be the last law firm with these tools...It's very easy to become a dinosaur these days." See Reuters, Legal AI Race Draws More Investors as Law Firms Line Up .
Years ago I created a custom platform for our family company that automates legal and management of transactions for farming and real estate development deals as well as all our loans, contracts, escrow documents, different company/entity creations and ownership. With all quantitative & GIS data: farming including: price, acreage, water rights, water quality, soil data and real estate development: density/acre, infrastructure cost, entitlements, subdivision map, environmental and other approvals, etc. This data tagged provide great fodder for training foundational models and interconnect all data to allow to pivot from transactions, loan, & other projects types or documents and drill down to detailed data and workflow status. I had a great programming, GIS, and analytics team. I designed it with the metadata waiting to train today's Ai Large Language Models like ChatGPT, Bard, Llama, and the like. My goal was also to train less experienced users to learn more high level skills and attorneys to pushdown and automate tasks down. I look forward to see how the current Generative Ai platforms like Harvey.Ai utilize platforms like mine!
Workflows for Purchase of Farming & Real Estate Development Properties
Entitlement of Real Estate Projects, 1031 Exchange, & New Loan
Harvey.Ai is a legal platform backed by OpenAi's fund, that intends to do just this, see below for more information. Even the pictures at the top of this article were generated by Dall-E Ai .
"According to a recent report from Goldman Sachs, a bank, 44% of legal tasks could be performed by?ai, more than in any occupation surveyed except for clerical and administrative support. Lawyers spend an awful lot of time scrutinizing tedious documents—the sort of thing that?ai?has already demonstrated it can do well. Lawyers use?ai?for a variety of tasks, including due diligence, research and data analytics. These applications have largely relied on “extractive”?ai, which, as the name suggests, extracts information from a text, answering specific questions about its contents." Economist article Generative AI could radically alter the practice of law .
领英推荐
Generative AI Could Impact 300M Jobs, Goldman Sachs Predicts
Billable Hours
Firms may end up with less lawyers, having automation and LLM Ai like ChatGPT platforms streamlining research, document review, drafting of documents, and the like. This could lead to flat fees from firms and/or better tracking and billing of billable hours.
OpenAi, the firm that makes ChatGPT has backed Harvey a platform for legal professionals that will help with:
LexisNexis Ai using ChatGPT like interface.
PROVIDE REAL JUSTICE
Per a Legal Services Crop?2022 report? “low-income Americans do not get any or enough legal help for 92% of their substantial civil legal problems.” This plus the long time to get through a legal case and the high cost leads many to have no justice. The Ai and automation could provide more justice to many in need.
Interested in Farming, Finance, and the Law
1 年Very interesting article. It will be interesting to see how adoption of this technology plays and I hypothesize it also might be the ‘great equalizer’ between smaller and larger firms. Smaller or more rural firms all of a sudden become competitive with larger firms with more associates/resources etc.
Passionate Agribusiness Leader | Mentor & Coach |
1 年This is so exciting, especially for my clients that are small and medium sized business owners. Thanks for sharing. I’m looking forward to diving in and learning more.