Generative AI

Risk or opportunity? The CLO’s guide to Generative AI

With the promise of changing the future of work and unlocking innovation across almost every aspect of business, the Generative AI (GenAI) platform ChatGPT-31 quickly became the fastest-growing technology in history, accumulating 100 million users just two months after being released.2 Following shortly after, ChatGPT-4 and competitor products delivered expanded capabilities, more reliable results, and anticipation around the future of GenAI.3 Now, research indicates that 67% of surveyed senior IT leaders are prioritizing GenAI within the next 1.5 years, with 33% labeling it as the top technology priority.4

Where do chief legal officers (CLOs) fit into the equation? Because of Generative AI’s broad possibilities for business innovation, legal chiefs have a distinct opportunity to shape and influence their organizations’ adoption of this fast-growing technology. Not only will CLOs likely be tasked with understanding GenAI’s legal implications for their department, but they may also need to provide guidance—amid changing regulatory frameworks—for the rest of the business as it attempts to harness the benefits of GenAI across the enterprise.

This resource is designed to help CLOs and their teams navigate the legal risks, challenges, and opportunities that GenAI may present to their businesses and legal functions. Let’s take a closer look.

Explore Generative AI considerations for CLOs

Jump from one article to the next; these resources are meant to be explored in any order you’d like.

1 GPT stands for “Generative Pre-Trained Transformer” model, which is a language model based on the transformer architecture, pre-trained in a generative, unsupervised manner that shows decent performance in zero/one/few-shot multitask settings. Zoe Argento et al., An overview of the employment law issues posed by Generative AI in the workplace, Littler, May 2023.
2 Martine Paris, “ChatGPT hits 100 million users, Google invests in AI Bot and CatGPT goes viral,” Forbes, February 3, 2023.
3 Bernard Marr, “A short history of ChatGPT: How we got to where we are today,” Forbes, May 19, 2023.
4 Kathy Baxter and Yoav Schlesinger, “Managing the risks of Generative AI,” Harvard Business Review, June 6, 2023; citing a Salesforce survey of more than 500 senior IT leaders (March 2023).

Get in touch

Lori Lorenzo profile image

Lori Lorenzo

Chief Legal Officer Program
Research and Insights Director
Managing Director | Deloitte Risk &
Financial Advisory
Deloitte Transactions and
Business Analytics LLP

lorilorenzo@deloitte.com

Erin Hess profile image

Erin Hess

Chief Legal Officer Program
Research and Insights Manager
Manager | Deloitte Risk &
Financial Advisory
Deloitte Transactions and
Business Analytics LLP

erhess@deloitte.com

Jon Foster profile image

Jon Foster

Managing Director | Deloitte Risk &
Financial Advisory
Deloitte Transactions and
Business Analytics LLP

jonfoster@deloitte.com

This document contains general information only and Deloitte is not, by means of this document, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This document is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor.

Deloitte shall not be responsible for any loss sustained by any person who relies on this document.

As used in this document, “Deloitte” means Deloitte Financial Advisory Services LLP, which provides forensic, dispute, and other consulting services, and its affiliate, Deloitte Transactions and Business Analytics LLP, which provides a wide range of advisory and analytics services. Deloitte Transactions and Business Analytics LLP is not a certified public accounting firm. Please see www.deloitte.com/us/about for a detailed description of our legal structure. Certain services may not be available to attest clients under the rules and regulations of public accounting. Deloitte does not provide legal services and will not provide any legal advice or address any questions of law.

Copyright © 2023 Deloitte Development LLC. All rights reserved.

Insert Custom HTML fragment. Do not delete! This box/component contains code that is needed on this page. This message will not be visible when page is activated.
+++ DO NOT USE THIS FRAGMENT WITHOUT EXPLICIT APPROVAL FROM THE CREATIVE STUDIO DEVELOPMENT TEAM +++