Thoughts on AI Advancement in the legal industry Forum

[AdminMod1]

Have you heard about Harvey? The Legal AI? It just raised $21 million to help law firms like Allen & Overy and PricewaterhouseCoopers, who have already signed deals to take advantage of the technology. Many law firms have already been using AI tools to automate document drafting and research tasks more quickly. Would you be using Harvey in the future, or should law firms avoid AI advancement altogether? What are your thoughts?

[Lacepiece23]

Have you heard about Harvey? The Legal AI? It just raised $21 million to help law firms like Allen & Overy and PricewaterhouseCoopers, who have already signed deals to take advantage of the technology. Many law firms have already been using AI tools to automate document drafting and research tasks more quickly. Would you be using Harvey in the future, or should law firms avoid AI advancement altogether? What are your thoughts?

AI will eliminate legal jobs. To what extent? Who knows.

[AdminMod1]

We really cannot predict exactly how much impact it will cause the legal market. But I know there are tons already aside from Harvey that's already been in use. Have you heard of CoCounsel?

[The Lsat Airbender]

lol

are these posts written by an AI?

[AdminMod1]

lol

are these posts written by an AI?

not by an AI.

[Anonymous User]

Personally, I'm a bit concerned for restructuring juniors more than anyone else. You've got the unholy combination of (a) extremely cost-sensitive clients, (b) relatively rote workflows for juniors that can be automated and easily checked by a more senior attorney, and (c) less of a prestige mindset that would cause current partners to keep juniors around. Lit will be more than fine, general corp is likely okay, but restructuring looks to be a bad place to be a junior in the next few years.

[nealric]

Have you heard about Harvey? The Legal AI? It just raised $21 million to help law firms like Allen & Overy and PricewaterhouseCoopers, who have already signed deals to take advantage of the technology. Many law firms have already been using AI tools to automate document drafting and research tasks more quickly. Would you be using Harvey in the future, or should law firms avoid AI advancement altogether? What are your thoughts?

AI will eliminate legal jobs. To what extent? Who knows.

I think there will be an elimination of certain types of jobs, but not necessarily a net reduction in legal employment.

Back when computerized spreadsheets were new, a lot of people predicted the end of the accounting profession, or at least a lot fewer accountants. No longer did you need armies of people who just performed rote arithmetic. Then you had accounting systems like Oracle and SAP that eliminated a lot of work of manually entering numbers. Despite all that, there are still tons of accountants. A lot of it is because the tasks demanded of accountants have grown. Companies have a lot more granular data that they produce and report than they used to.

Similarly, law firms employ a lot fewer secretaries than they used to. Very few lawyers still dictate memos or have secretaries type hand-written notes or drafts. But the people who used to dictate memos are now doing marketing, billing, and other back office functions that firms never paid much attention to before.

[B90]

lol

are these posts written by an AI?

Have you already forgotten what law students are like? So soon?

[existentialcrisis]

lol

are these posts written by an AI?

Have you already forgotten what law students are like? So soon?

Nah. I agree this sounds like a bot.

[DougEvans789]

lol

are these posts written by an AI?

Have you already forgotten what law students are like? So soon?

Nah. I agree this sounds like a bot.

Pretty sure there was a very similar post about this same Harvey product a week or two ago, fwiw.