The Actionable Futurist® Podcast is a show all about the near-term future with actionable advice from a range of global experts.Your host is leading Futurist and AI Expert Andrew Grill, a dynamic and visionary tech leader with over three decades of experience steering technology companies towards innovative success.Known for his captivating global keynotes, Andrew offers practical and actionable advice, making him a trusted advisor at the board level for companies such as Vodafone, Adobe, DHL, Nike, Nestle, Bupa, Wella, Mars, Sanofi, Dell Technologies, and the NHS.His upcoming book “Digitally Curious” set for a 2024 release by Wiley, delves into how technology intertwines with society’s fabric and provides actionable advice for any audience across a broad range of topics.A former Global Managing Partner at IBM, five times TEDx speaker, and someone who has performed more than 550 times on the world stage he is no stranger to providing strategic advice to senior leaders across multiple industries.Andrew’s unique blend of an engineering background, digital advocacy, and thought leadership positions him as a pivotal figure in shaping the future of technology...
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episode 24: S5 Episode 24: Transforming the Legal Industry: The Role and Impact of AI with Jaeger Glucina from Luminance
The world of law is not immune to the sweeping changes brought about by technological advancements, specifically the advent of Artificial Intelligence. In a fascinating discussion with Jaeger Glucina, Chief of Staff at Luminance, we delve into how AI is reshaping the legal industry and creating new possibilities for efficiency and accuracy in legal processes.
Built on a proprietary legal Large Language Model (LLM), Luminance uses next-generation AI to automate the generation, negotiation and analysis of contracts. Developed by world-leading AI experts and validated by leading lawyers, Luminance’s specialist ‘legal-grade’ AI is a trusted co-pilot for any legal team.
From taking a first pass review of any contract under negotiation, to a first-of-its-kind AI chatbot for redrafting clauses on-the-fly and an intelligent contract repository for granular insight into any contractual landscape, Luminance brings AI to every touchpoint a lawyer has with their documents.
A key area of focus in this conversation is the revolutionary role of AI in contract drafting and reviewing. Luminance is leading the way by using a combination of generative and analytical AI to improve accuracy and efficiency in these areas. This technology allows for the identification of risk elements in contracts and the generation of drafts with simple prompts.
As Jaeger highlights, this is a significant shift from traditional legal processes and has the potential to greatly improve the working lives of lawyers and legal professionals.
One of the fascinating aspects of AI's integration into the legal sector is its potential to redefine traditional business models. A significant shift is taking place in how lawyers bill for their services. AI is introducing opportunities for automation, leading to a drastic reduction in time spent on certain tasks. This change is influencing the billing model in the legal industry, moving away from hourly billing towards value-based pricing.
As the legal industry continues to embrace AI, there's a growing need for digital literacy among legal professionals. The integration of AI into legal processes requires a workforce that understands and can effectively utilize these new tools.
Jaeger underscores the importance of equipping legal professionals with the necessary digital skills to harness the full potential of AI in their work.
More on Jaeger
Jaeger on LinkedIn
Jaeger on Twitter
Luminance website
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