Legal and policy concerns are inherent aspects for IT and non-IT management. The terms and conditions under which IT products and services are provided, as well as the security and data protection, disposition, and appropriate use of systems and information each require IT (and non-IT) managers to consider the legal context for IT as a matter of routine. As IT has become critical to the global economy, there is ongoing need, in both the private and public sectors, for qualified information technology managers who can perceive and, with counsel, respond to the legal and regulatory environment for IT worldwide.
AI is improving efficiencies, accuracy, & accessibility
When researchers discovered that OpenAI's GPT-4 could not only pass the bar exam but do so in the 90th percentile, it seemed like AI lawyers were just around the corner (ABA Journal, 2023). However, that optimism was challenged when a New York City lawyer submitted a legal brief generated by ChatGPT that was riddled with fake legal citations. The lawyer claimed he didn't realize ChatGPT could fabricate cases (“The ChatGPT Lawyer Explains Himself,” The New York Times, 2023). Despite this widely publicized setback, AI still holds the potential to revolutionize the legal industry. It can augment a lawyer’s capabilities by drafting initial versions of legal documents, translating complex legal jargon into everyday language for clients, and reviewing contracts or agreements. An analysis of data from 10 corporate legal departments revealed that 40% of time entries, representing 47% of billing, could potentially be handled by generative AI.
If generative AI could reduce this work by half, law firm revenue might decrease by 23.5% (3 Geeks and a Law Blog, 2023). Several technology companies have launched generative AI tools specifically trained for the legal industry, using case law that is often behind paywalls. Notable vendors in this space include Harvey.ai, Casetext’s CoCounsel, and Litigate.ai. Additionally, applications like Rally’s Spellbook leverage OpenAI’s GPT-4 for tasks such as contract review and drafting (Interview with Monica Goyal).
Although AI in law is still in its early stages, professionals like Monica Goyal, a lawyer and director of legal innovation at Caravel Law, are implementing this technology to optimize the operations of their Toronto-based non-litigating practice. Examples of AI being used in law include:
- Document automation: Law firms use software templates to create filled out documents based on data input.
- Transcribing speech to text.
- Intellectual property: AI tools guide lawyers in analyzing large IP portfolios and drawing insights from the content.
- Electronic billing: Lawyers’ billable hours are computed automatically.
- Drafting contracts: AI is used to help draft contracts.
- Predicting legal outcomes: AI is used to predict legal outcomes.
- Helping lawyers perform due diligence and research
- Naturally, having accurate, accessible, secure data is fundamental to a successful AI initiative, thus providing additional topics addressed in this program.
- This certificate provides a perspective on the global IT legal environment and the best management practices in responding to it, with heavy emphasis on emerging information technologies (e.g., blockchain, AI, Robotics Process Automation, IoT).
- It will be of widespread interest to IT practitioners and vendors, especially service providers, managers of IT ventures, senior managers with responsibility for implementing IT solutions enterprise wide, security officers, and IT consultants.
- The cadre of candidates for this program includes attorneys, compliance officers and IT and non-IT managers responsible for solutions bearing on compliance with regulatory requirements and discovery requests.
- The faculty that teaches these courses are usually practicing attorneys that have experience with the respective "global/local" regulations/laws.
While the Managing Legal Issues Certificate focuses on helping candidates understand the myriad legal digital/IT considerations, the strategic, tactical, and operational elements across the entire legal (e.g., law-firm) value chain can also be addressed:
