Law firms are increasingly adopting resource management tools to address declining client services and financial pressures, as highlighted in a BigHand survey. These tools not only streamline operations but also play a crucial role in supporting diversity, equity, inclusion (DEI), and career development initiatives, essential for talent retention and aligning with client expectations.
It's now become vital for general counsel to proactively develop policies for Generative AI in enterprises, focusing on areas like risk tolerance, use cases, decision rights, and disclosure practices. These guidelines are crucial for both aligning with potential future legal regulations and managing current applications of generative AI effectively.
Gartner says the increase will be largely driven by the need for assurance leaders needing tools to keep up with the increase in regulatory attention on executive risk oversight and monitoring.
