Bloomberg Law Presents "Generative AI for Law: What's Here, What's Next, What's Possible"

ARLINGTON, Va., Feb. 18, 2025 /PRNewswire/ -- Today Bloomberg Law announced a replay of its virtual special event, "Generative AI for Law: What's Here, What's Next, What's Possible." To learn about the future of legal tech and see how AI-powered innovations can elevate legal practice on demand, visit https://aboutblaw.com/bhfT.

Bloomberg Law's legal analysts share four takeaways from examining the trends around the use of AI in the legal field:

• There has been a significant increase in AI adoption within the legal profession, with more lawyers using AI tools and some leading firms building their own in-house AI solutions.
• The rise of AI in transactional law calls for law associates to improve their basic contract drafting skills in order to successfully use AI tools for contract tasks.
• In terms of AI ethics, there is ongoing discussion about the supervisory duties of lawyers related to generative AI use. More legal ethics authorities are expected to address this as AI use increases.
• The regulatory landscape for AI is still evolving, but we can anticipate more AI-related laws in the near future, much like the patchwork of state data privacy laws mirroring the EU's GDPR.

Bloomberg Industry Group Chief Product Officer Bobby Puglia highlights Bloomberg Law's guardrails system, ensuring that the platform's generative AI features are safe to use and trust. Guardrails validate the input and output of the model to make sure the answers provided are acceptable. Puglia also explains Bloomberg Law's unique Innovation Studio, which allows the Bloomberg Law product team to put prototypes of generative AI product features in front of practitioners who experiment with them, test them out, and provide feedback throughout the development process.

Bloomberg Law's product development team shares an inside look at the platform's newest AI tools, Bloomberg Law Answers and Bloomberg Law AI Assistant. With Bloomberg Law Answers, legal professionals can get quick, precise answers to their legal questions, drawing from a comprehensive range of legal sources available on the Bloomberg Law platform. Bloomberg Law AI Assistant is a chat-based research tool that allows users to generate summaries of legal documents, as well as ask targeted questions to identify specific information from those documents. Bloomberg Law Answers and Bloomberg Law AI Assistant are available within the Bloomberg Law platform at no additional charge.

"As we look ahead at the future and our AI product roadmap for this year, we see a lot of opportunity to move from creating workflow efficiencies for users to actually improving the quality of their work product," said Puglia. "We've already started building drafting solutions for transactional attorneys, and we plan to add litigation drafting solutions to assist customers with drafting motions, briefs, and more."

About Bloomberg Law
Bloomberg Law combines the latest in legal technology with workflow tools, comprehensive primary and secondary sources, trusted news, expert analysis, and business intelligence. For more than a decade, Bloomberg Law has been a trailblazer in its application of AI and machine learning. Bloomberg Law's deep expertise and commitment to innovation provide a competitive edge to help improve attorney productivity and efficiency. For more information, visit Bloomberg Law.

SOURCE Bloomberg Law