AI Disruption Breakfast Event (Law Tech)

As the tsunami of AI disruption hits the world of white collar work, the legal sector is not immune from its impact. The recent study by Linklaters, where they measured the competency of AI engines to determine whether they were yet able to replicate the functions of a qualified lawyer were noteworthy. The headline being that whilst the AI engines are not quite there yet, they soon will be. What this will mean for the legal sector is anyone’s guess, but the logical assumption would be the law firms would need less lawyers.

The Law Tech sector is blossoming as a result, and with Cleary Gottlieb acquiring Springbok AI, is this a sign of things to come? And if Law Firms start buying AI solutions, will they then allow competitor firms to access technologies and IP they then own? This acquisition raises questions, but if the Fintech sector is anything to go by as an indicator, there will be two kinds of Law Tech firms that emerge:

Disruptors: Companies that look to automate the legal process and in the process disrupt incumbents. As they become established this will result in them eating into the market share of law firms.

Amplifiers: Companies that amplify the effectiveness of existing law firms and will look for a licensing business model. This is likely to then lead to law firms either doing more with the same size of team, or streamlining their headcount.

For corporate law firms, both models present opportunities and threats. Building in-house AI comes with challenges, while relying on third-party providers could mean losing control if a competitor acquires them. Meanwhile, Venture Capital and Private Equity firms stand to benefit as AI-driven legal assets become acquisition targets, accelerating investment in the space. But what does this mean for legal jobs?

Join us at our AI Disruption Breakfast Event as we explore the impact of AI on the legal industry, the evolving role of LawTech, and the future of legal jobs.