Today we’re featuring an external blog from EY featuring Microsoft’s Semantic Kernel. This case study reveals how Microsoft legal teams are using GenAI to confidently manage regulatory change. Learn more here: How Microsoft uses GenAI for compliance | EY – Global

How can you generate confidence in the face of uncertainty?

Microsoft stands at the vanguard of the AI revolution. Their significant investment in generative AI (GenAI) technologies is driving swift progress in the Microsoft Azure AI technology stack and the Microsoft 365 product suite. A fundamental pillar of Microsoft’s growth strategy involves embracing and exemplifying the responsible and efficient utilization of this transformative technology for their customers. Functional leaders across the organization have the mandate to actualize the technology’s potential.

EY Law teams worked with Microsoft CELA to rapidly assemble a multidisciplinary collaboration of professionals with extensive business knowledge across industries and skills in advanced technology, AI policy, legal operations and legal work product. Together with leading academic institutions, EY Law and technology teams conducted an intensive two-day workshop to address data strategy, privacy, confidentiality and legal business needs simultaneously, while incorporating CELA feedback from the outset to achieve innovative outcomes for the end users.

The Solution: Leveraging Generative AI with Semantic Kernel

Based on the outputs of the workshop, EY Law and technology teams believed that an AI tool that is integrated with the EY Global Tax Platform and systematically deploys GenAI to automate and improve tasks, could significantly reduce the time needed to comprehend required regulatory compliance actions. This tool is powered by Microsoft Azure Open AI and Microsoft Semantic Kernel, stemming from the alliance between the EY organization and Microsoft that allowed EY technology teams to gain early access to emerging Microsoft Azure AI capabilities. This allowed EY Law and technology teams to collaborate with the CELA Technology & Operations team and test the conversational assistant during a joint hackathon. The compelling responses and positive feedback allowed the teams to exit the hackathon with a framework and requirements for a more advanced GenAI proof of concept (POC) program.

CELA Technology & Operations together with EY Law and technology teams worked with CELA’s regulatory and product team members to design and refine a workflow POC for the regulatory space solution that could be automated to enhance efficiency, compliance monitoring and document creation. Within weeks, the EY technology team developed the necessary skillsets for the desired automation, which cleared the way for Microsoft to move forward with a pilot implementation of the GenAI solution in the legal department.

Conclusion

Following the process designed by the Microsoft CELA and EY Law teams can assist other organizations in:

• Identifying AI opportunities: Exploring areas where AI can benefit legal teams.
• Assembling the right team: Bringing together a diverse group of professionals in technology, law and business, with support from various functions as necessary to collaborate on the approach.
• Centralizing data and knowledge: Accumulating data and insights to facilitate the development of successful use cases. Start with the data you have – you don’t need a lot to go far.
• Continuously learning and adapting: Experimenting and refining solutions through user engagement and feedback.
• Effectively communicating: Broadcasting the achievements of the legal team members who contributed to stakeholders to encourage cooperative efforts.
• Staying ethical and compliant: Keeping abreast of advancements while maintaining ethical and legal standards.

As GenAI impacts the legal industry, a growth mindset is important for legal practitioners and leaders. By embracing collaboration, experimentation, continuous learning and adaptability, they can confidently and effectively navigate the rapid changes that GenAI will bring to their ways of working.