Weekly Round Up - Future of the Law
Ideas at the intersection of law, technology and entrepreneurship.
Hey everyone!
There are days when ideas flow and the pen doesn’t, not this week! If you enjoy these updates, don't forget to subscribe to stay in the loop. A quick summary to catch you up on our work this week.
🛠️ The Founder's Toolkit for Fundraising: What Should It Look Like?
Founders often face information overload when it comes to fundraising. A well-designed toolkit should address the most critical concerns, focusing on protecting equity, maintaining control, and avoiding distractions. What should such a toolkit contain? This post came as much from the heart as experience, and you should follow this as it develops if you are a startup founder.
🤖 OpenAI's GPT-3.5 Turbo and GPT-4: Legal Drafting Showdown
We tested both GPT-3.5 Turbo and GPT-4 to see how they perform in generating legal notices. While GPT-3.5 Turbo has its shortcomings, GPT-4 shows significant improvement in structure, coherence, and length. Both models understand the "role" of a lawyer, but GPT-4 stands out in its ability to generate better legal drafts. This work is feeding into our work at Tipsy Tom, more on this later.
🌐 The Impact of Language Models on the Legal Profession
With language models like OpenAI bridging the gap between human languages and programming languages, we're witnessing a shift in the high-tech industries. This change is creating massive productivity leaps, but also insecurities and fear. Can AI replace lawyers or programmers?
⚖️ AI in the Legal Field: Embracing the Change
AI is poised to revolutionize the legal field, but it won't replace lawyers. Instead, it will bring a new layer of productivity, allowing lawyers to focus on their core value. By embracing AI, future lawyers will develop better attention to detail and improve their overall capabilities. The key is to remember that the client is king, and whoever understands this best will always win. Read more here .
That's all for this week! If you're enjoying these updates and want to stay in the loop, be sure to subscribe and ask your friends too.
See you soon!