How do you think organizations can best use the contractual interpretations provided by LLMs? To expand on that, good lawyers don't just provide contractual interpretations, they provide advice on actions to take, putting the legal interpretation into the context of their client's business objectives and risk profile. Do you see LLMs / tools based on LLMs evolving to "contextualize" and "operationalize" legal advice?
Do you have any views on whether context window limits the ability of LLMs to provide sound contractual interpretations of longer contracts that have interdependent sections that are far apart in the document?
Has your level of optimism for the capabilities of LLMs in the legal space changed at all over the past year?
You mentioned that lawyers hoard templates. Most organizations you would have as clients (law firms or businesses) have a ton of contracts that could be used to fine tune LLMs. There are also a ton of freely available contracts on the SEC's website. There are also companies like PLC, Matthew Boender, etc., that create form contracts and license access to them as a business. Presumably some sort of commercial arrangement could be worked out with them. I assume you are aware of all of these potential training sources, and am curious why they were unsatisfactory.
Thanks for any response you can offer.
Do you have any views on whether context window limits the ability of LLMs to provide sound contractual interpretations of longer contracts that have interdependent sections that are far apart in the document?
Has your level of optimism for the capabilities of LLMs in the legal space changed at all over the past year?
You mentioned that lawyers hoard templates. Most organizations you would have as clients (law firms or businesses) have a ton of contracts that could be used to fine tune LLMs. There are also a ton of freely available contracts on the SEC's website. There are also companies like PLC, Matthew Boender, etc., that create form contracts and license access to them as a business. Presumably some sort of commercial arrangement could be worked out with them. I assume you are aware of all of these potential training sources, and am curious why they were unsatisfactory.
Thanks for any response you can offer.