As large language models (LLMs) continue to grow in the legal industry, firms must make informed decisions about which AI tools to adopt. With a range of LLMs offering various strengths, weaknesses, and functionalities, selecting the right model for your firm’s unique requirements is essential. This session will provide suggestions for evaluating LLMs in the legal context, focusing on their effectiveness in key legal tasks workflows such as document drafting, research, contract analysis, and client communication. Panelists will examine crucial evaluation factors including data privacy compliance, language processing capabilities, accuracy in legal contexts, ease of integration with existing systems, and cost-effectiveness. Discussion topics include: 

• How to assess an LLM’s ability to understand and process legal language accurately, including how to measure its effectiveness in drafting documents, and conducting legal research
• How to asses an LLM's ability to accurately process and organize data for improved retrieval and knowledge sharing
• Key data privacy and compliance considerations when implementing LLMs
• How to evaluate an LLM’s compatibility with your firm’s existing software systems, as well as its scalability for future growth and applicability
• How to conduct a cost-benefit analysis to determine which LLM provides the best return on investment based on your firm’s size, budget, and anticipated usage