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Welcome to this week's edition of The Legal Wire!

We’re dedicated to keeping you informed on the latest in AI regulations, legal tech developments, and expert insights to help you navigate the evolving landscape of artificial intelligence in the legal profession.

• Article spotlight | What Happens When AI Learns Mostly from Content Made by AI?

• Headlines | From Around the Web You Shouldn't Miss

• Next Big Thing | Due Diligence and Contract Reviews Powered by AI

• AI Tools | Supercharge your producivity

• ChatGPT | Legal prompt of the week

Legal Technology

What Happens When AI Learns Mostly from Content Made by AI?

The rise of artificial intelligence has brought about significant transformations in various sectors. Through the use of AI, machines are able to understand and improve the information they process. However, the input data’s diversity and quality are crucial to this learning process. As AI systems become increasingly integrated into content creation, a critical question arises: what would happen if AI were to learn mostly from AI-generated outputs rather than from original human input? This hypothetical situation does bring up some serious concerns, though, and they may have far-reaching consequences for future AI research, creativity, and knowledge over time.

A feedback loop and data degradation

Concerns about a feedback loop that could lead to a steady decline in data quality are among the most significant in an AI-generated content scenario. When training AI algorithms, it is common practice to employ large datasets that contain a wide range of user-generated content, including varied styles, opinions, and expression methods. This variety is crucial for the precision and depth of AI results. However, if AI-generated content becomes more prevalent and accounts for a bigger portion of training data, these models may be subjected to an increasing amount of their own or other AI systems’ outputs.
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AI-powered contract review and analysis

Due Diligence and Contract Reviews Powered by AI

Kira, Litera's AI-powered contract review software, has recently introduced a new feature called "Smart Summaries" that is expected to improve the speed and accuracy of legal document analysis. The process of due diligence and contract review is streamlined by Smart Summaries, which enable legal professionals to rapidly synthesize and report on data extracted from contracts by utilizing the power of generative AI (GenAI).

This feature is intended to offer attorneys the ability to provide strategic advice to clients at a faster pace than ever before by providing concise, actionable insights. Kira's latest capabilities enable the transformation of extensive contract data into client-ready reports with the simple touch of a button.

Kira now provides an even more comprehensive integration of AI in its workflows, in addition to Smart Summaries. Kira's AI models are engineered to extricate critical information from contracts with unparalleled accuracy, utilizing over 1,400 smart fields that span more than 40 substantive areas.

The latest advancements in GenAI and Kira's established machine learning technology are revolutionizing the way legal teams conduct contract analysis. The enhanced features of Kira are designed to enhance the quality of your legal work and save time, regardless of whether you are managing mergers and acquisitions or other corporate transactions.

In what ways could the integration of Kira's advanced AI into your practice improve the quality of your client deliverables and expedite your contract review processes? Learn more about Kira and investigate how it can enhance your influence at Litera's website

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Want more Legal AI Tools? Check out our
Top AI Tools for Legal Professionals

This prompt is designed to help you quickly develop a focused due diligence checklist that covers all essential aspects of a transaction or case. By zeroing in on the most critical areas, you can save time while ensuring that nothing important is overlooked, making your due diligence process more efficient and effective:

Prompt: Create a comprehensive yet concise due diligence checklist tailored for [specific transaction or case]. Focus on covering all critical areas, such as financial records, legal compliance, intellectual property, and contractual obligations, while avoiding unnecessary detail. Ensure the checklist is thorough but streamlined for efficiency.

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