ChatGPT and its potential to be revolutionary have been in the cultural zeitgeist of late. In the legal sphere, this revolution has led to talk in the industry about ChatGPT becoming a game-changing tool with the potential to lead to the end of lawyers as we know it (or, at the very least, junior lawyers). So, will ChatGPT mean that the role of a lawyer will become obsolete? Almost definitely, it will not. However, the use of this innovative technology, which leverages artificial intelligence (AI), does pose several questions for law firms to consider. This includes how it can be effectively used as well as issues that could arise from its use. Such a discussion is now being held in law firm boardrooms. This discussion is not only focused on assessing the impacts of AI, but perhaps more importantly, how such technology can be utilized to streamline work and generate efficiencies.

Law firms across the globe have started looking at how ChatGPT can be leveraged to, among other things, undertake more low-value work and free up a lawyer's billable time for more meaningful and revenue-generating tasks. Speaking with individuals who have used ChatGPT internally within firms, some believe that while ChatGPT does have benefits, the idea of it revolutionizing the legal industry is perhaps short-sighted. One of the key issues is that ChatGPT is not specifically designed to handle legal matters. Thus, there is a risk that when drawing up contracts and other legal-specific documents, the technology can actually create additional risk exposure through error. Another reservation is the time and investment involved in rolling out ChatGPT. Currently, it appears that the technology is largely being used by internal legal technology teams. Adoption by other parts and individuals within a firm will take time. As with all technology, by the time lawyers and other staff are comfortable with using ChatGPT, a newer and potentially better form of AI may come on the market.

The use of ChatGPT and AI has the potential to add another tool to a lawyer's toolkit and, as mentioned, provides the opportunity to streamline work and focus a lawyer's time on more revenue-generating activities. It's little wonder why there is such excitement in the industry around it. However, as with most other technology used by law firms, there is also an element of risk that must be mitigated, and it's this risk that is making some firms wary of ChatGPT. This fear is firmly rooted in the cybersecurity implications, which are now at the top of the agenda for firms, not just from a reputational perspective but also in terms of costs. According to ALM's LTN Tech Survey 2022, 93% of respondents indicated that the price of their firm's cyber insurance had increased from the previous year. Furthermore, when asked what they perceived were the biggest threats to their firm's security stemming from technology usage, 39% selected employee negligence or mistakes, while 36% selected ransomware attacks. With ChatGPT being web-based and the need for users to input information, there is a heightened risk of users releasing sensitive information or accidentally downloading ransomware onto devices. Therefore, robust management, training, and ongoing moderation of its usage by lawyers will be required to help mitigate against these risks.