Generative AI and large language models (LLMs) are poised to transform the legal industry by enhancing efficiency and service across various aspects of legal work, such as research, document creation, and management processes, while offering significant competitive advantages to early adopters. However, challenges such as inaccuracies, privacy breaches, and potential intellectual property violations have made some firms wary of fully embracing the technology. Legal tech providers and large law firms are actively utilizing LLMs to improve document management, legal research, and contract analysis, with notable advancements such as Borderless AI's employment law knowledge assistant, Alberni, which uses Cohere models to provide rapid answers on global labor laws and analyze contracts. Despite the impressive capabilities of LLMs, it is crucial for firms to ensure accuracy and privacy through careful selection, deployment, and customization of these models, as well as by leveraging partnerships to stay abreast of technological advancements. By training LLMs on authoritative data sources and legal jargon, firms can enhance the relevance and accuracy of AI-generated outputs, thereby unlocking substantial productivity gains and maintaining a competitive edge in a rapidly evolving landscape.