What’s next for AI? Luminance’s 2024 Predictions

3 January 2024 | Luminance

There’s no denying that 2023 was a landmark year for AI, full of ground-breaking developments and sensational headlines. But what’s next? We asked Luminance’s executive team to share their thoughts and predictions for AI in 2024…

Eleanor Lightbody, CEO

“Last year, the term ‘AI co-pilot’ became very much part of the legal tech dictionary, but 2024 will be the year of ‘Autopilot’. AI has become widely accepted as a key tool within the legal industry and, thanks to this increased trust, I think we will see lawyers confidently place routine contract negotiations into the hands of AI. At Luminance, we’ve already shown a glimpse into how auto-negotiation will bring an unprecedented level of efficiency to stretched legal teams. I expect that this will be the greatest development for legal teams heading into the New Year.”

Jaeger Glucina, MD & Chief of Staff

“2023 was certainly the year that put AI on the map! What interested me the most was seeing how our increased use of AI led to increased awareness. The headlines were filled with countless examples of AI mishaps, from a lawyer in New York being fined for citing fake cases generated by ChatGPT to a chatbot falsely accusing a US law professor of sexually harassing students. With more and more generative (and generalist) AI tools set to enter the market in 2024, companies need to make responsible decisions when it comes to the tech they’re using. Particularly in a specialist industry like law, where accuracy is so important, expect more businesses to turn to specialised AI. Relying on fine-tuned models that have been trained over highly specific and verified data will be the key enabling businesses to harness the benefits of AI while avoiding the risks.”

Harry Borovick, General Counsel

“Governments are under increasing pressure to deliver AI regulation, so 2024 will see an even greater emphasis on compliance. We can expect stricter frameworks to come into place, and this is likely to impact the working practices of many businesses. With lots of discussions coming from the UK, EU and the US, it seems we’ll all be heading down diverging paths, with heavier legislation ultimately coming out of the EU. I can see this causing compliance headaches for General Counsel whose businesses are working across multiple markets. It will be an interesting challenge for legal teams to navigate this relatively unknown territory.”

Simon Rodgers, CTO

“I’m anticipating a drive to make AI more ‘human’ in the sense of its ability to think and reason. This doesn’t mean that humans will lose their value – in fact, I think we’ll view our own unique skills and abilities as even more important now that so many tasks are being delegated to technology. Take strategic planning, creative thinking, and people management – these are all important skills that can’t be replaced by technology. With AI set to become even more effective in automating standardised, routine processes, legal teams will be able to focus on using these uniquely human skills for specialised tasks.”