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Note: This article is just one of 60+ sections from our full report titled: The 2024 Legal AI Retrospective - Key Lessons from the Past Year. Please download the full report to check any citations.

D. Data Governance

The integration of AI in legal processes necessitates robust data governance frameworks to ensure compliance, protect intellectual property, and maintain ethical standards. This section explores the current landscape of data governance in legal AI, focusing on data usage throughout the value chain, IP risk assessment, compliance decisions, and the challenges surrounding internal tool development and 3rd-party LLM usage.

Conclusion

As the legal AI landscape continues to evolve, organizations must strike a balance between leveraging innovative tools and maintaining robust data governance practices. The future of legal AI will require ongoing investment in sophisticated data governance tools, training programs, and dynamic regulatory frameworks to adapt to rapid technological advancements. By addressing these challenges, the legal industry can harness the power of AI while maintaining client trust, regulatory compliance, and ethical standards.