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This week we catch up with ⁠Jeff Pfeifer⁠ and ⁠Serena Wellen⁠ from LexisNexis to discuss the rapid development of AI tools for the legal industry over the past year. Pfeifer and Wellen give us an insider’s view of what it took to bring their ⁠Lexis+ AI⁠ tool to the market and the balance between speed to market and getting solid customer guidance on what they need in a legal-focused Generative AI tool. Between the initial version released to a select group of customers and the current version, the product grew from an open-ended chat interface into more of a guided resource that helps users on creating and following up on prompts. As with most AI tools created in the past year, there is still more potential as more and more customers use it and give critical feedback along the way.

In addition to Lexis+ AI, LexisNexis has now launched two additional AI products – ⁠Lexis Snapshot⁠ and ⁠Lexis Create⁠. Lexis Snapshot summarizes legal complaints to help firms monitor litigation. Lexis Create brings AI capabilities directly into Microsoft Word to assist with drafting and research while lawyers are working on documents. The goal is to embed insights where lawyers are actually doing their work rather than separate AI tools.

While the focus of the initial Generative AI tools from LexisNexis were focused on the US market, Serena Wellen and her team are busy expanding that to more of an international reach. This requires adapting the models, content, and interface to different languages and legal systems. This is complex undertaking, but Wellen discusses how LexisNexis has content and editors around the world to help customize the tools. Surprisingly, desired use cases are fairly consistent globally – both simple legal tasks as well as more advanced legal research and drafting.

Greg Lambert brings up a recent LinkedIn discussion that he had with Microsoft’s Jason Barnwell, where Barnwell told him that today’s version of Generative AI tools are “the worst these things will ever be.” In response, Pfeifer says that LexisNexis is focused on continuously improving answer quality to build trust and prove the value of AI to skeptical lawyers. LexisNexis is leveraging relationships with companies like Microsoft to reinforce the stability and progress being made.

Wellen and Pfeifer look into the future and predicted that AI assistants will become highly personalized to individual lawyers. AI agents will also proliferate across platforms to help automate tasks and workflows. Law firms will likely accelerate their adoption of AI tools based on rising expectations and demands from corporate legal departments to work more efficiently.

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⁠⁠⁠⁠⁠⁠Contact Us: 

Twitter: ⁠⁠⁠⁠⁠@gebauerm⁠⁠⁠⁠⁠, or ⁠⁠⁠⁠⁠@glambert⁠⁠⁠⁠⁠
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Email: geekinreviewpodcast@gmail.com
Music: ⁠⁠⁠⁠⁠⁠Jerry David DeCicca⁠⁠⁠⁠⁠

⁠Transcript

Continue Reading Pfeifer and Wellen Give an Inside Look at LexisNexis’ AI Sprint (TGIR Ep. 230)

Our guest this week is ⁠Kristina Satkunas⁠, Director of Analytic Consulting at LexisNexis. Kristina discusses the recently released LexisNexis CounselLink Enterprise Legal Management Trends Report for 2023. This annual report provides insights and benchmarks on key metrics related to corporate legal spending and outside counsel relationships.

The 2023 report found that law firm hourly rates increased 4.5% over the past year, the highest year-over-year increase in the 10 years LexisNexis has published the report. While rate increases are not surprising, the magnitude is noteworthy. Kris attributes the largest drivers of the increase to economic factors like inflation as well as lower demand for certain types of legal work. However, average blended rates (the rates charged for entire matters rather than individual timekeepers) remained relatively flat. This suggests in-house counsel are mitigating rate hikes by changing the mix of firms, timekeepers, and types of timekeepers working their matters.

The report also found the ongoing trend of consolidation to fewer outside firms continues, with 61% of companies using 10 or fewer firms for 80% of their legal spending. Kristina expects this trend to remain relatively stable but notes there are benefits to using both a smaller number of firms (e.g. better rates, stronger relationships) and a larger number of firms (e.g. subject matter expertise, competitive rates). She recommends companies determine when to use large firms versus smaller or midsize firms based on factors like matter complexity, risk profile, and cost.

Alternative fee arrangements (AFAs) have not gained significant traction according to the report, remaining at about 12% of matters. Kristina is an advocate for wider AFA adoption and believes companies need to ask for and consider AFA proposals, especially for appropriate matters. AFAs can help buffer rising hourly rates. She acknowledges AFAs require effort to evaluate and implement but thinks legal operations teams and outside counsel should work together using data and analytics to develop reasonable AFA proposals.

The report provides new data on international lawyer rates in 22 countries. Rates differ significantly between countries based on factors like a country’s economy, political stability, and role in global trade and commerce. Many companies are leveraging international firms for regulatory, litigation, IP, and other legal needs outside the U.S. Benchmark data on rates in different countries provides helpful context, especially when engaging firms in new countries.

Kristina sees two significant changes on the horizon:

  1. Determining how to properly and effectively employ AI and technology to increase efficiency and reduce costs; and
  2. Continued access to data enabling both in-house and outside counsel to make smarter, data-driven decisions.

When asked what metric in-house and outside counsel should focus on, Kristina recommends using available data, whether from the survey or a company’s own systems. Data is a “two-way street” that should be shared collaboratively to improve decision making.

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Contact Us:

Twitter: ⁠⁠⁠⁠⁠@gebauerm⁠⁠⁠⁠⁠, or ⁠⁠⁠⁠⁠@glambert⁠⁠⁠⁠⁠ Voicemail: 713-487-7821 Email: geekinreviewpodcast@gmail.com Music: ⁠⁠⁠⁠⁠Jerry David DeCicca⁠⁠⁠⁠

⁠⁠⁠Transcript⁠

Continue Reading The Rising Cost of Legal Services: Insights from 10 Years of Data from CounselLink’s Kristina Satkunas

Karl Harris, CEO of Lex Machina, took an interesting path to legal analytics. Initially working on sonar systems taking streams and signals and converting those into data, then on to mobile application analytics, then on to law school. Pulling these three skills together, the idea of legal analytics came together. With Lexis+ Litigation Analytics becoming the fourth pillar of the Lexis+ ecosystem, along with legal research elements, practical guidance, and brief analysis. Harris walks through the progression of legal analytics over the past decade, and even projects some of the potential analytics has in the assistance of practicing law.

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Information Inspirations
Bryan Parker and Jon Greenblatt have a wonderful interview with Locke Lord Partner and former ABA President Paulette Brown. Brown gives an honest view of her experiences as a black woman lawyer in a BigLaw firm, and the reality of how little has changed over the past twenty years.
Distributed law firms like FisherBroyles are approaching AmLaw200 status and might be the hot new structure for law firms to disrupt the BigLaw model. 
With the use of Zoom for trials, there are some logistical problems that not only make trials difficult, one situation in St. Joseph County Michigan shows that what (or who) you can’t see on camera might create a dangerous situation. Luckily, Assistant Prosecutor Deborah Davis’ skills to know when a witness was showing signs of distress when the defendant was just feet away when the witness was testifying. 
It turns out that teachers aren’t the only professionals who have to buy supplies because the schools don’t have the funds. Some Judges are having to pay for their own Zoom accounts in order to conduct online trials.
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Please take the time to rate and review us on Apple Podcast. Contact us anytime by tweeting us at @gebauerm or @glambert. Or, you can call The Geek in Review hotline at 713-487-7270 and leave us a message. You can email us at geekinreviewpodcast@gmail.com. As always, the great music you hear on the podcast is from Jerry David DeCicca.
Transcript

Continue Reading The Geek in Review Ep. 108 – Lex Machina’s Karl Harris on the Past, Present, and Future of Legal Analytics

Law360 has long been an excellent resource in covering the news when it comes to legal issues. In January, they expanded to also begin looking internally at the legal industry and the business of law. Rachel Travers, Law360 Vice-President, and General Manager joins us to talk about the recent launch of Law360 Pulse. This news coverage of large and mid-sized law firms, in-house corporate counsel happenings, as well as regional coverage of the legal industry is giving many of the established news outlets some new competition. Travers mentions that Law360 Pulse will also release additional industry rankings as well as comprehensive industry surveys. In addition, the integration of Law360 Pulse along with Lexis+ will create unique analytics tools by connecting research and news resources.

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Information Inspirations

We mentioned Coca-Cola’s memo to their outside law firms last week, but Bob Ambrogi sat down with Coke’s GC, Bradley Gayton for a LawNext Podcast interview to dive deep into the reasoning for the memo and how Gayton’s own experiences lead him to press his law firms, and even his own department to push for more diversity.

When it comes to concise writing in the military, BLUF is the word. Bottom Line Up Front. The Harvard Business Review covers some rules that the military uses for email precision that gets right to the point.

The Beverly Hills Police Department is using some unique methods to try to prevent Instagramers from live streaming interactions with police officers. It happens to involve copyright protections.

The National Network for Safe Communities released a study at the recent American Society of Criminology’s annual conference which stated that 50% of community crime may be linked to 1% of the community’s population. That finding made them come out with some suggested changes to how communities are policed.

Listen, Subscribe, Comment

Please take the time to rate and review us on Apple Podcast. Contact us anytime by tweeting us at @gebauerm or @glambert. Or, you can call The Geek in Review hotline at 713-487-7270 and leave us a message. You can email us at geekinreviewpodcast@gmail.com. As always, the great music you hear on the podcast is from Jerry David DeCicca.

Transcript

Continue Reading The Geek in Review Ep. 105 – Rachel Travers on the New Law360 Pulse

One of the best features that Lex Machina provides for Intellectual Property attorneys is their increased accuracy of information pulled from PACER. The improvements that Lex Machina has made on Cause-of-Action (CoA) and Nature- of-Suit (NoS) codes entered into PACER make it an invaluable resource to clearly identify relevant matters and weed out irrelevant cases.…

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