The rise of artificial intelligence (AI) in 2025 is set to cause a lot of buzz. Businesses, specifically law firms, have been adopting new models of finance, strategy and planning accommodated and optimised by AI.
AI has been celebrated for its ability to increase efficiency and time-saving qualities. Within law practices, the technology has been utilised for the automation of routine tasks, the provision of data analytics and for decision making, with the intended goal of leading to a superior output.
However, a new study by LexisNexus has revealed the downfalls of using AI in law practice. The study states:
“There’s a huge fear of providing the wrong advice to clients, which is particularly heightened by issues with free-to-use generative AI. The biggest hurdles to adoption of generative AI are content hallucinations (57%), security concerns (55%), and the technology not being trustworthy enough (55%).”
The implications of inaccuracies come with ethical concerns, particularly in the practice of law and justice. A further problem that has arisen with the use of AI is the potential for data breaches. Nonetheless, many practices are still adopting the technology, hoping the benefits will outweigh the limitations. With regulations, routine checks and verification of sources, supporters of AI suggest it can transform the legal industry.
Yet, AI tailored to such practices comes at a cost, thus considerations must be taken in the investment of purchasing and teaching AI technologies. At AJL Finance, we understand the financial burden of adopting new technologies safely and so provide loans for businesses, such as solicitor practices, so get in touch today to learn more.
