Friday, July 12, 2024

Critical AI Updates: Lawyers, Loneliness & Landscape
This week’s AI insights touch on a bit of everything. Here’s what you need to know:

AI Research Breakdown: Analyses of new research and business usage

1. AI in Legal Research: Key Findings for Leaders
– AI legal tools hallucinate at alarming rates: Even top systems produce false information 17-33% of the time.
– Performance varies dramatically: Accuracy ranges from 20% to 65% across major platforms.
– Subtle errors pose hidden dangers: AI often misinterprets case holdings and legal hierarchies.

2. AI Lessons from the Darnedest of Places: An analysis of the Harvard Business School paper AI Companions Reduce Loneliness:
– Users consistently underestimate the positive impact of AI interactions
– AI companions significantly reduce loneliness, rivaling human interaction
– AI companions may play a role in Employee Assistance Programs (EAP’s)

3. AI Landscape Report – July 2024
– 87% of companies are already in the AI game – but are they playing to win?
– AI is delivering tangible results: 42% report cost reductions, 59% see revenue increases
– The AI talent race is on: Companies dedicate an average of 100 employees to generative AI

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Chad