16 solve problems or make predictions. Generative AI takes vast amounts of raw data, learns the patterns within it, in order to generate the most likely correct response when prompted with a question. In Israel, in August, AI21 Labs- the only company in Israel developing a "large language model" based on AI, became a unicorn after it raised USD155m in a Series C financing round, giving it a valuation of approximately USD1.4 billion (Meitar acted for A121 Labs, Herzog and H-F & Co. represented flagship investors, Nvidia and Google respectively). Generative models have been used on numerical data for several years. However, as deep learning and natural language processing have become more advanced, Generative AI has been applied to images, audio, and text. The term became more well known after OpenAI released its chatbot ChatGPT at the end of last year. Lawyers are familiar with AI; but today’s changes unparalleled Lawyers have been deeply familiar with AI for some time. AI-powered software has been widely adopted for managing and reviewing documents, as well as due diligence tasks, with machine learning algorithms capable of analyzing reams of documents, helping lawyers identify relevant information more efficiently during legal research and discovery processes. Other software allows for the analysis of market trends, tracking of legal developments, and identification of potential business opportunities. Some law firms are also using AI to predict case outcomes and assess potential risks. By analyzing past legal cases and relevant data, AI algorithms can provide insights that assist lawyers in making strategic decisions for their clients. However, caution was thrown to the wind when, in June, a New York lawyer used ChatGPT to help with a brief for his case against the Colombian airline, Avianca. It provided him with entirely fictitious case law and was immediately called out by opposing counsel and the judge. After several humiliating headlines, the lawyer was fined, underlining the dangers of relying on Generative AI. As this one case highlighted, there are many legal issues arising from the prolific use of such technologies. In addition to the inaccuracies through an improper review of AI’s output, Generative AI raises a number of complex legal issues around data privacy, intellectual property and the potential leakage of confidential information, as well as compliance violations, breach of contract, copyright infringement, as well as damaging communications with customers, and more.
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