Almost half of lawyers support regulation around the use of AI in the legal profession, according to a new report from the IBA and the Center for AI and Digital Policy (CAIDP). 

The report – The Future is Now: Artificial Intelligence and the Legal Profession – was launched at the IBA’s annual conference in Mexico City today.

It found that 48% of survey respondents back AI regulations, with 57% calling for regulatory consistency around the world. 

IBA president Almudena Arpon de Mendivil said: “Meeting the challenge posed by AI developments at the legal front, the IBA has assessed and highlighted the crucial role lawyers must play remaining at the centre of governance of technological changes. AI may not result in opaque systems endangering fundamental rights and values of modern societies.” 

She added that the legal profession needs to embrace AI and that the IBA is committed to providing ongoing support and guidance to ensure AI technologies are developed and used in a manner that benefits the legal profession and society more broadly. 

Some 43% of respondents said their firms have policies in place around the use of AI, while 69% said they were unaware of the extent to which AI regulation would impact their firms. 

The report also highlights the transformative potential of generative AI, which could bring significant changes to law firm strategies and the way they operate. It warns, however, that the implementation of AI in law firms will require extensive training and development programmes to ensure it is used safely and effectively.

Firms must also ensure they have effective management around data governance, security, intellectual property, privacy and policy development, the report says.

They should also be mindful of AI’s influence on hiring practices and any potential ethical issues that may arise from the use of AI. 

Marc Rotenberg, executive director of the CAIDP, who gave the keynote address at the IBA session, said: “As AI continues to evolve, it is imperative that we establish robust policies and frameworks to ensure fairness, accountability and transparency. This report is a crucial step in that direction, providing valuable insights and recommendations for legal professionals and policymakers alike.”