…And it’s happening whether you like it or not. It’s time to plan accordingly.

If not, your firm is going to be squeezed out as larger firms with advanced AI platforms are going to poach your best people and clients. This is all happening with increasing speed, and many partners have their heads in the sand as they hope this AI “gimmick” passes by. It’s not. It’s here.

The development of AI-driven law firms should be sending shudders down the backs of all law firm partners. This development is just the start of a massive overhaul of the legal industry. Firms need to quickly figure out a roadmap on how to use AI
successfully and profitably.

Beautiful!

I would tend to agree on the bi-modal trend. As AI really gains traction, many more midsized firms will be squeezed out, with their lawyers either joining big firms or setting up shop for themselves.

Human rainmakers will still be needed for business development and will be even more highly prized than now. AI will handle much of the routine marketing functions, blog articles, client onboarding etc. however.

The end result will be fewer lawyers, fewer equity partners and smaller firms by lawyer count. The winning firms will be very profitable using extremely high AI/tech leverage.

Partners who aren’t bringing in work will not be needed as AI will be doing much of their current legal work. Rainmakers will be paid even more, and will force out those who aren’t.

I would suggest that AI will replace those partners who are doing work that can be done by associate lawyers or AI.

Very cool. I love seeing more folks embrace this approach. FWIW, I have students in my AI & the Law course¹ build their own such simulations,² in addition to using them to moot case arguments.³

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¹ lawrpg.org
² sadlynothavocdinosaur.com/posts/simple...
³ lawrpg.org/2024/ai-and-...