LLMs in Interpreting Legal Documents
It tackles the problem of enhancing legal document interpretation for legal professionals, but it is incremental as it reviews existing applications and challenges without introducing new methods.
This chapter explores the application of Large Language Models to optimize and augment traditional legal tasks like interpreting statutes and contracts, while addressing challenges such as algorithmic monoculture and hallucinations, and presents two benchmarks.
This chapter explores the application of Large Language Models in the legal domain, showcasing their potential to optimise and augment traditional legal tasks by analysing possible use cases, such as assisting in interpreting statutes, contracts, and case law, enhancing clarity in legal summarisation, contract negotiation, and information retrieval. There are several challenges that can arise from the application of such technologies, such as algorithmic monoculture, hallucinations, and compliance with existing regulations, including the EU's AI Act and recent U.S. initiatives, alongside the emerging approaches in China. Furthermore, two different benchmarks are presented.