In this comprehensive 2023 Year in Review, the Innovation and Legal Technology team at Addleshaw Goddard offers an in-depth look at the transformative role of Generative AI in the legal sector. The team shares their journey of exploring and implementing Generative AI, addressing the hype, prioritising safety, and focusing on practical applications. They also discuss the importance of prompt engineering, balancing between 'buy vs build' strategies, and their extensive client engagement. The review concludes with an exciting glimpse into what 2024 holds, including a focus on delivery, integrations, product development, and continuous learning. *
*drafted by AGPT
2023 has been the year of AI, with 'hallucinate' winning the coveted Cambridge Dictionary Word of the Year and deserving of some branding awards for making 'incorrect answers' sound exciting. It has also been a busy year for the Innovation and Legal Technology team here at AG, especially our Research and Development pillar. A year filled with learnings, conversations, lots of testing, and plenty of expectation management.
Our strategy for 2023 ended up being adapted pretty quickly when we started to see the growing interest in ChatGPT from our colleagues and our clients. Due to having a R&D function, we were able to dedicate a significant amount of time to finding out whether LLMs were in fact the future, and if so, to what extent. This took a substantial amount of time early 2023 but the rest of this year has been about building, focused testing and practical application of this technology.
This wrap up is pretty much completely focused on Generative AI, rather than a key themes piece like last year's (found here - '2022 wrap up and what's ahead in 2023?'). However, the impact that this step forward in technology has made across this year and the attention it has gained, means that a retrospective is warranted!
Addressing the hype
A practical approach
The importance of prompting
Buy vs build
What's in store for 2024?