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July/August 2023 » ChatGPT for Legal and Tax Professionals
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Garrett L. Brodeur, JD, LLM, and Grace Hall, and Ella Tynch
Since the introduction of ChatGPT in November 2022, artificial intelligence (AI) has taken the legal and accounting professions by storm. The use of AI in legal proceedings has already made headlines (“Lawyer's AI Blunder Shows Perils of ChatGPT in ‘Early Days,’” Bloomberg Law, May 31, 2023, https://bit.ly/3KkdsvM) and research now suggests that most legal and tax professionals believe ChatGPT can be applied to legal or tax work. [A series of surveys of more than 1,800 legal and tax professionals in the U.S., U.K., and Canada conducted between March and May 2023 found that 82% of legal professionals and 73% of tax professionals believe ChatGPT can be applied to legal or tax work. (Future of Professionals: ChatGPT and Generative AI in Legal, Corporate & Tax Markets, Thomson Reuters, 2023).] Although the revolutionary potential of AI is obvious, little has been said about the technology's implications for professionals bound by standards like the American Bar Association's Model Rules of Professional Conduct (MRPC) and the Treasury Department's Circular 230.
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