Fine-Tuned LLMs vs Generic LLMs for Law Firms

DataPlus AI
February 23, 2024
2
min read

Fine-Tuned LLMs vs Generic LLMs for Law Firms

As the business side of law firms evaluate AI and how it can best help with daily workflows, it is essential that law firms know the differences between fine-tuned LLMs and generic, out-of-the-box models. This blog dives into how fine-tuned LLMs are the equivalent of a subject matter expert who has honed their knowledge and skills over a long career and offers nuanced insights, in contrast to the broader, less specialized knowledge of their generic counterparts.

Large Language models (LLMs) like ChatGPT and Anthropic have opened the doors to a new era for artificial intelligence. We now have AI systems that can understand language and text much like humans. However, generic LLMs lack the specialized knowledge and expertise required for many professional use cases.

Fine-Tuning Models on Domain Specific Knowledge

This is where fine-tuning comes into play. Fine-tuning is the process of custom training an existing model on domain-specific data to adapt its knowledge and capabilities. In the context of the legal profession, fine-tuning allows us to create AI tools designed specifically for legal use cases. Fine-tuned LLMs are like the equivalent of having a subject matter expert on your team. Once fine-tuned properly, these LLMs not only comprehend nuanced domain language but also can provide precise analysis based on current market trends.

Fine-tuning a model is a process and is something that needs to be constantly monitored and adjusted over time. As these models ingest more domain-specific training data, they become even more skilled and over time they accumulate experience similar to a seasoned legal business development professional who has honed their knowledge and skills over a long career.

Out-of-the-Box LLMs: Jack of All Trades, Master of None

In contrast, out-of-the-box LLMs can be compared to a new employee who has just graduated college. While this employee might exhibit promising raw talent, they still need further mentoring and experience to excel in specialized roles.

These generalist AI tools offer broad capabilities, which can be beneficial for basic tasks but may fall short in addressing the complex needs of a specialty, such as legal business development.

Without fine-tuning, models may struggle with understanding the context of what is being asked, grasping niche legal terminology and concepts, and answering questions that require deep legal practice-area expertise. These generic LLMs are flexible, which allows them to address broad use cases, but their output will often fall short of the standards expected in professional settings.

Conclusion

For legal business development professionals and other functions on the business side of law, fine-tuned LLMs can offer the precision, efficiency, and depth of insight required to navigate the complexities of today’s legal landscape. It won’t be long until law firms figure out how to best implement AI across their firms and there is no doubt that fine-tuned LLMs can be indispensable tools for those seeking to leverage AI for a competitive advantage in specialized legal markets.

DataPlus AI — Co-Pilot for Legal Business Development

DataPlus is an AI-platform that offers three distinct skillset modes that allow business development professionals, researchers, and competitive intelligence staff to 1) Search; 2) Analyze; and3) Generate high-quality and thought-provoking insights that lead to meaningful conversations with their current and prospective clients.

By leveraging DataPlus, legal business development professionals can save time, streamline their client screening process, and gather deep insights about their current and prospective clients, industries, markets, and competitors. To learn more about DataPlus and experience the benefits, sign up to try the DataPlus platform today.

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