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.
What is Generative AI?
What are its potential uses?
What are its potential risks?
What are the governance
considerations?
What are other
C-suite perspectives?
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).
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J. Donald Fancher
Principal - Deloitte Risk & Financial
Advisory | Leader -
Chief Legal Officer Program
Manager | Deloitte Risk & Financial Advisory
Deloitte Transactions and Business Analytics LLP
Erin Hess
Chief Legal Officer Program
Research and Insights Manager
Manager | Deloitte Risk &
Financial Advisory
Deloitte Transactions and
Business Analytics LLP
Jon Foster
Managing Director | Deloitte Risk &
Financial Advisory
Deloitte Transactions and
Business Analytics LLP
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