Cheaper, Faster and Better? AI and the Future of the Profession
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It’s a battle synonymous with innovative technology: the interests of the worker against those of the enterprise. With artificial intelligence (AI) in law, the question gets particularly interesting, as on the one hand, the technology could in theory mean easier access to legal services for those who cannot afford it. On the other, lower costs mean less resources to spend on new attorneys and on maintaining those whose work could be done faster, cheaper and arguably better by a machine.
Some law firms are already making the transition to AI . Among them are Reed Smith (which adopted RAVN’s document analysis tool), Baker & Hostetler (which adopted ROSS for legal research), DLA Piper and Clifford Chance (which both entered contractual agreements with Kira Systems this summer). And while some partners and clients may rejoice in the benefits of stacking AI against some of the biggest challenges facing law firm budgets today, some find the technology to be a threat to the profession.
A survey of 76 managing partners from top-200 London law firms titled “From Recruitment to Robots: Growth Strategies for Law Firms” found that 50 percent of respondents thought artificial intelligence to be the biggest threat to the legal profession, noted Legal Futures . Though possibly overstated, the concern is understandable, as AI is already transforming the way things like research and review are practiced. Similarly, AI is bringing to light questions around a robot’s legal status, patents generated by technology, and how to manage unemployment across industries. As noted in Lexology , there’s an obvious fear over “a rise in unemployment with smart robots taking jobs.”
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