The Docket

TLTF in the news

• Keeping with this edition’s theme - check out our latest early-stage generative AI market map here, showcasing 300+ companies with over $850M of capital raised!

• 🎉 Congratulations to Steno, who launched Transcript Genius, a first-of-its-kind generative AI tool for transcript analysis.

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🌎 News from the world of law

• Thomson Reuters claims "90% accuracy" for its AI-assisted research product, contradicting Stanford's study that showed results of 42% accuracy with an overall hallucination rate of 33%.

• Arizona Rep. Kolodin used ChatGPT to define "deepfake" in a new law allowing judicial review to combat AI misinformation in elections.

• North Carolina will deploy self-service kiosks in courthouses to aid residents in accessing the justice system online, especially in counties adopting eCourts.

• Generative AI in law faces hurdles due to data standardization issues, with initiatives like SALI aiming to improve but facing adoption challenges.

• The Senate AI roadmap receives criticism for overlooking existing AI harms, but proposes $32 billion for R&D to address AI safety and regulation.

• A WA state court rejected AI-enhanced video over concerns about potential altering of evidence details and lack of trust in Gen AI’s reliability - the first ruling of its kind in the U.S.

• OpenAI paused its ChatGPT-4o voice mode, Sky, due to potential legal action from actress Scarlett Johansson, who claimed that Sky’s voice sounded like her own in the movie "Her."

• Federal AI policy, including Biden's executive order and state laws, demands vigilant monitoring by in-house counsel for AI-related regulatory shifts.

• A New Jersey class action accuses LegalZoom of unauthorized law practice, focusing on its ownership structure and legal services provision.

• Not even halfway through, 2024 is on pace to be the biggest year in the history of law firm data breaches, with 21 firms already impacted this year.

• 📈 Law firms continue to invest in legal technology, with record revenue growth and a 6.4% increase in billing rates in Q1 2024, according to the Q1 2024 Thomson Reuters Law Firm Financial Index.

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👂 Listen

• Jon Stewart discusses AI fears for Hollywood, election plans, and the Daily Show, on The Town with Matthew Belloni. (28 mins)

• Dennis Garcia from Microsoft discusses in-house teams' use of AI, ethical considerations, collaboration in legal tech, and emerging tools. (44 mins)

• Vice president of partnerships at InfoTrack, Dan Lear discusses the increasing importance of legal tech skills and tools for lawyers and law firms. (42 mins)

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Other Things I'm Reading

• 📚 Book of the month: There’s Always This Year: On Basketball and Ascension by Hanif Abdurraqib.

• Bill Gates' backed startup creates Lego-like bricks that can store air pollution for centuries: A milestone for affordably removing carbon dioxide from the air.

• The Federal Trade Commission and Congress are revisiting the Robinson-Patman Act, which could negatively impact consumers facing significant price increases since 2020.

• Bain & Company found 70% M&A failure years ago; today, around 70% succeed due to strategy changes, improved scrutiny, expertise, integration, and investor recognition.