ABA Journal
"Law firms and in-house legal counsel are exploring artificial intelligence adoption and educating themselves to provide AI legal advice internally and externally. To better advise AI decisions, lawyers should know the benefits, shortcomings and best practices of incorporating insurance into AI risk management.
Simple AI systems are already deeply integrated into our society and economy, from virtual assistants for users to anti-fraud detection for businesses. Recent advances based on large language models are quickly increasing the pace of integration and the capacity for errors as newer AI systems replace older AI and non-AI systems.
LLMs frequently produce “hallucinations,” a type of error that brings about novel perils, prompting the need for insurance coverage. For example, the New York and Missouri lawyers sanctioned for using fake ChatGPT cases in legal briefs are cases rooted in an LLM system’s hallucinations.
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