AI Project Lifecycle in Legal

This session, moderated by Vinay Varma, featuring Vrinda Sharma and Kate Boyd, delves into the AI project lifecycle in the legal field, providing a comprehensive overview of the essential stages and considerations for successful AI implementation.   

Key Takeaways:

• AI Project Lifecycle Stages: The session outlines the four key stages of the AI project lifecycle:

  • Ideation and scoping  
  • Build and implementation
  • Testing and deployment  
  • Continuous monitoring and governance
    
    

• Evaluating AI Use Cases: The evaluation of new AI use cases involves considering factors such as risk, fit with available AI technologies, and potential for quick wins.

• Prioritizing Use Cases: Prioritization frameworks often include criteria like value to the user, complexity, feasibility, cost, data readiness, and risk assessment, with risk being interpreted differently for AI applications.  

• Build vs. Buy Decisions: The decision to build or buy AI solutions depends on factors like resources, digital transformation maturity, and the desire for customization, with in-house legal teams often leaning towards buying solutions.

• Data Security Considerations: Data security is paramount and involves addressing model security, data retention, data residency, and data privacy through measures like user training and leveraging platform-level security.  

• Testing and Accuracy: Evaluating AI system accuracy in legal contexts is complex due to the subjective nature of legal analysis. Testing criteria may include accuracy, relevance, and coherence, with manual testing often necessary to validate results.  

• Managing Expectations: Managing lawyer expectations regarding AI accuracy is crucial, emphasizing the probabilistic nature of AI and the importance of continuous monitoring and improvement.  

• Continuous Monitoring and Governance: Continuous monitoring and governance involve using tools like LangSmith to track user interactions, identify areas for improvement, and ensure compliance and safety.