The Generative AI newsletter for legal pros everywhere.

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This is the Brainyacts newsletter, where we explore the wondrous world of generative ai and its potential to revolutionize the way we work and think.

This is day 7 of 100 (our goal - 100 consecutive days!) and today we will:

1. put the fear into every knowledge worker, but then remove it

2. show you how to be your own industry expert and consultant by using ChatGPT prompts to create crazy good industry/market reports - check out the one on Business Immigration legal services!

3. explore a new generative ai tool

4. talk news you can use and some you can lose

Here’s the thing . . .

Think of AI as a co-worker who actively collaborates with you to make you more valuable to your organization. It’s not competing with you, it’s your competitive advantage to keep your job or get a raise or promotion.

A recent study by BCG and MIT found that employees who use AI tools are six times more likely to receive a promotion, bonus, or raise, and see AI as a "co-worker" rather than a threat.

While AI is already changing the way we work, there is still uncertainty around its impact on the labor market. Currently, AI is having a major impact on design, marketing, and content professions, but its use in other areas such as law and medicine is limited due to the lack of trust in the technology's accuracy.

However, AI tools are expected to become a part of all professions in the future and will likely lead to improved employee performance and some job losses.

Knowledge workers who fail to adapt to these changes are under the most threat.

Today you learn how to become your own industry expert fast and effectively, basically beating out most consultants and analysts in the legal market.

Let's kick this off, shall we?

Moving onto Today's Prompts:

Ever need to understand a client or industry segment quickly and easily?

Here are at least 10 scenarios in which both lawyers and business professionals working with legal teams might need this:

1. Entering a new industry and need to get up to speed quickly

2. Preparing for litigation involving companies within a particular industry

3. Conducting due diligence for mergers and acquisitions

4. Assessing market opportunities and potential risks

5. Advising clients on risks and opportunities within a particular industry

6. Publishing thought leadership content on topics related to a particular industry

7. Advising clients on regulatory issues within a particular industry

8. Conducting market research on behalf of clients within a particular industry

9. Identifying potential clients within a particular industry

10. Building relationships with key stakeholders within a particular industry

The traditional ways of getting industry insight typically look like this:

1. Purchasing from market research firms (expensive + time-consuming)

2. Subscribing to industry publications (expensive + not just in time_

3. Accessing government reports (free + thick and often convoluted)

4. Attending industry conferences and events (inefficient)

5. Consulting with industry experts (costly + time-consuming)

Yes, you could Google it. But then you have to read through the search results.

Instead, create your own industry report with ChatGPT.

NOTE: I will share just the prompts here. The replies are too lengthy to include so I have linked to them after the prompts.

Here is the series of Prompts:

[Please give me a detailed and professional outline of an industry report]

It should return a fully detailed outline.

Next Prompt:

[Based on this outline, give me a detailed industry report of the (enter your industry or market) ecosystem]

I used ‘edtech’ for one and ‘business immigration legal services’ for the other.

It should return a fully detailed report.

😆🤣😝 After you are done grinning and laughing your evil laugh because you realize you just outdid many consultants; you can end it there.

Or you can ask it to elaborate on one of the findings . . .

Next Prompt:

[Please elaborate on the regulatory environment. What specific legal challenges or obstacles does the edtech sector face? Please provide recent examples of edtech companies getting into legal trouble or facing regulatory scrutiny.]

So, here is edtech link to the whole conversation with the full ChatGPT output.

Attention Practice Group Leaders: Here is the business immigration legal services link.

For this one, I took it a few steps further to demonstrate how easy it is to drill down.

For any lawyer or practice group manager that is looking to create a strategic plan, you must read through this!

It is pure gold, I promise. Just change out the business immigration text for your specific practice area.

Today’s tool is Consensus.app - a search tool for research papers. 

Its tagline is “Ask a question, get conclusions from research papers”

What it does? Consensus uses AI to find answers in research papers. The best way to search is to ask a question.

Who is it for? Journalists, law students, academic researchers, amateur sleuths, folks looking to impress with source-driven conent

Here is my <5min video of me walking you through it.

News you can use:

🚨 BREAKING ChatGPT4 was released hours ago.

Yes, in newsletter #4 I said you can ignore the coming ChatGPT4 release as there will be a frenzy and many distractions. That said, I like this picture as it is a simple way to show the exponential difference between 3 and 4.

In short, generative ai is only scratching the surface. We have a lot to learn!

News you can lose:

You might have heard of Do Not Pay - the legal startup that has used language such as ‘Robot Lawyer’ to describe itself. Well, they are being sued for unauthorized practice of law (UPL).

Why am I putting this in the news you can lose category? Because of YAWN! Here we go again with the legal profession using the wickedly non-specific and protectionist UPL charge to attach an organization that is a perceived threat.

I am not going into the merits or claims of either side. But I cannot stand to see how our profession musters up its so-called high morals of protecting consumers by attacking companies trying to change things while the profession blatantly and aggressively ignores the access to justice problems plaguing our country!

We should help companies like Do Not Pay improve and avoid UPL, not wait for them to screw up and call them out by taking action against them.

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That's a wrap for today. Stay thirsty & see ya next time! If you want more, be sure to follow me on Twitter and LinkedIn.

DISCLAIMER: None of this is legal advice. This newsletter is strictly educational and is not legal advice or a solicitation to buy or sell any assets or to make any legal decisions. Please be careful and do your own research.