The use of AI in companies and law firms – between reality and vision

The participants in the discussion at the 29th Munich M&A Forum, held on November 13, 2024, at the Literaturhaus in Munich, agreed on one fundamental issue: the days when the use of artificial intelligence (AI) played a minor role in the legal market are numbered. The latest collaborations between PwC Germany and Aleph Alpha (creance.ai) as well as CMS and Xayn (Noxtua) show how commercial law firms and AI companies are working on increasingly sophisticated solutions that will permanently change everyday work. Nevertheless, the rapid and potentially disruptive development in the field of AI is influenced by the European Regulation on Artificial Intelligence (AI Regulation), which came into force on August 1, 2024, and will pose regulatory challenges not only for the legal market, but for all operators and providers of AI.