I have a friend who is a partner at a big law firm. They are launching a platform that facilitates the creation, analysis, and revision of legal contracts.
Platforms like this will have a huge impact on law firms, small and large. The biggest deals will always get human scrutiny, but midsize deals will probably be done with tools like these. Law school graduates who expected to be able to make six-figure salaries to pay off their six-figure debts are going to be negatively impacted.
The smart ones are already trying to figure out how to use these tools, what their strengths and weaknesses are, and which areas of law are going to be affected less (litigation versus transaction).
> The smart ones are already trying to figure out how to use these tools, what their strengths and weaknesses are, and which areas of law are going to be affected less (litigation versus transaction).
I don't think it matters much. Eventually most AI tools will be as easy to use as a smartphone. Why waste time learning ever changing AI workflows and APIs at this point.
Platforms like this will have a huge impact on law firms, small and large. The biggest deals will always get human scrutiny, but midsize deals will probably be done with tools like these. Law school graduates who expected to be able to make six-figure salaries to pay off their six-figure debts are going to be negatively impacted.
The smart ones are already trying to figure out how to use these tools, what their strengths and weaknesses are, and which areas of law are going to be affected less (litigation versus transaction).