Legal teams advised to deploy GenAI in ways that benefit the business

Regulatory compliance and contracting are two areas where legal’s use of generative AI could improve collaboration with other functions, an EY legal tech leader said.

Amid the excitement among in-house legal teams about deploying generative AI, there are a variety of tools they could choose to utilize.

Peter Krakaur, EY’s global law innovation and technology leader, recommends legal departments start by considering GenAI use cases that would also benefit the broader business.

He says that using the emerging technology to help provide regulatory compliance advice to colleagues in functions outside of legal is one approach that can be implemented.

For example, legal teams are exploring using GenAI to offer guidance to their organizations about product compliance, according to Krakaur.

General counsel and their legal departments are also examining how to use emerging AI to support marketing and external communication reviews, he says.