Today’s Story

As companies explore generative AI to boost efficiency and creativity, legal teams are navigating adoption challenges and changing skill requirements.

In house teams have been some of the first to embrace the technology with companies like ASML (the developer of the most advanced semiconductor manufacturing equipment in the world) hiring dedicated “prompt engineers” to help lawyers take advantage of the technology.

ASML’s chief legal counsel Sandrine Auffret believes generative AI will deliver substantial time savings and increase the quality of service for the company’s legal team. In fact, About 15 of ASML’s 100 lawyers are using an AI-powered tool from law firm A&O Shearman to draft and review contracts.

Other companies like Conduent are taking a more cautious approach. They set up a working group of internal professionals with different specialties to explore how to apply generative AI and establish safeguards.

PwC’s AI Jobs Barometer also found a significant wage premium for lawyers with AI skills, indicating the growing importance of AI in the sector. Independent of how exactly AI technology is integrated into firms, AI tools will augment legal work and already have begun to do so.

Headlines

• Language Models Without Matrix Multiplication (COAI) - Researchers claim a breakthrough in AI efficiency by eliminating matrix multiplication, a fundamental operation in current neural networks

• OpenAI Outpaces Microsoft in AI Sales (COAI) - OpenAI seems to have more traction selling products directly as opposed to through Microsoft.

• France’s AI Ambitions (COAI) - France has been positioning itself as Europe’s leading artificial intelligence hub, with high-profile companies like Mistral AI and H raising significant funding.

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Research

The Snowflake Data Report

Snowflake, a cloud data platform, analyzed usage data from its customer base to identify trends in how organizations leverage data and AI. They examined data usage from ~7,800 Snowflake customers over a 12-month period ending Jan. 31, 2023.

One of their key findings is that companies are connecting data globally across different cloud platforms, with cross-cloud growth up 207% to enable collaboration and resilience.

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