A type of Artificial Intelligence known as ChatGPT was developed in November 2022. The recent innovation, which reached 1 million users in just 5 days has thrown the world into Chaos.
“ChatGPT is the technology that is developing at the fastest rate the world has ever seen.”
How does ChatGPT works?
The beauty of any Artificial Intelligence (AI) system is it can be trained using the vast amounts of data it generates such as technological advancements, research findings and global societal norms up to that point. This means that it learns how things work, what technologies have been materialized, how much information has been derived from the books and research papers and how people influence with it. Given the sheer amount of data available, it is practicable to have a system that combines all of the world’s knowledge into a single computer and uses it to train an AI model. Such a framework would be profoundly intelligent and ready to settle on informed choices on the broadest conceivable scope of data. However, significant resources and technological advancement would be required to achieve this level of integration and processing power.
While Chat Bots are not a new technology, the performance of ChatGPT is so good that perhaps for the first time such a technology reduces the gap between Human-machine generated responses. So much so that a reader may find it difficult to conclude whether the response was generated by a Human or a Machine. This is also known as the well-known Turing test, which was created to determine whether a machine is intelligent or artificially intelligent. The test was straightforward: Can a Human read and determine whether the text was produced by a machine or by a Human? ChatGPT is becoming more and more of a tool that meets the Turing criteria.
In what ways can you apply ChatGPT to your own Life?
First and foremost, you must visit chat.openai.com in order to use ChatGPT. After that, it will let you set up an account. The examples you can use will be displayed on the screen when you start a new Chat. You can see all the previously asked questions in the left corner. ChatGPT remembers what the user said earlier in the conversation. It is also taught to decline requests that are not appropriate. You can even give an answer a thumbs-up or thumbs-down to let it know if it is correct or not, which will eventually be incorporated into the training program and it will continue to get smarter.
Some specific ways in which ChatGPT can benefit the Legal Industry:
ChatGPT has the potential to significantly impact the legal industry by providing assistance in various areas.
ChatGPT can assist lawyers and legal professionals in conducting legal research by analyzing vast amounts of legal data and identifying relevant cases and statutes. This can save time and improve the accuracy of legal research.
Document analysis and summarizing:
ChatGPT can help lawyers and legal professionals quickly analyze and summarize complex legal documents such as contracts, regulations, and case law. This can assist in identifying key information and making informed decisions.
ChatGPT can assist in legal drafting by suggesting appropriate language and clauses based on a given set of circumstances. This can help lawyers and legal professionals create well-written, clear, and comprehensive legal documents.
ChatGPT can help identify potential risks associated with legal transactions and contracts by analyzing various factors such as historical data, industry trends, and legal precedents. This can help lawyers and legal professionals make informed decisions and mitigate risks.
ChatGPT can analyze legal data to identify patterns and trends, which can be used to make predictions about legal outcomes. This can help lawyers and legal professionals make more accurate predictions about the likelihood of success in a particular case or transaction.
Smart lawyers who quickly adopt technology and adapt to a hybrid legal tech culture stand to gain a significant advantage. Regardless of the situation, AI’s versatility can ensure that it will be able to better adapt to the future, continue to offer free proficient judgment and focus on significant, complex and crucial work for their clients.
As far as ChatGPT is concerned, it’s ability to analyze vast amounts of legal data and provide quick and accurate insights can improve the efficiency and effectiveness of Legal Professionals, reduce costs, and increase the accuracy of Legal decision-making. ChatGPT has the potential to revolutionize the legal industry and improve the quality of legal services provided to clients.
Therefore, the question now arises, if this is a potent tool that has emerged, “Is your job at risk?”
The simple answer to that is, “If you know how to ask questions, the machine will not replace you; it will exist because of you.”