“Senior leaders at large law firms and executives in corporate legal departments are largely in agreement that Generative Artificial Intelligence (Gen AI) tools are likely to have a dramatic impact on the practice of law in the years ahead. But there are some notable and intriguing gaps between how firm leaders and their clients are thinking about a future in which Gen AI is a routine part of their workflows. In January of 2024, LexisNexis surveyed 216 managing partners and other senior leaders at large law firms, as well as 50 executives in corporate legal departments at Fortune 1000 companies, to better understand the business impact of Gen AI technology on the legal industry. Our survey found that a similar share of law firm leaders (75%) and corporate legal executives (81%) have used Gen AI tools themselves, and roughly the same number of senior executives expect their investments in Gen AI technologies to increase either “significantly” or “modestly” over the next five years (90% in law firms, 86% in corporations). But there was an interesting disconnect between law firm leaders and their in-house counterparts when we asked for their predictions and expectations surrounding how Gen AI will impact the law firm/client relationship…Download a free report of our 2024 Investing in Legal Innovation Survey: The Rise of Gen AI at Top Firms and Corporations.”