Extract from Jae Um’s article “AI Disruption Is Coming— Likely Later but (Much) Bigger than Expected”
Bill Gates famously observed that “we always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next 10.”
It’s been two years since the release of GPT-4. Predictably, the legal industry has been subject to massive hype and continuous noise, followed by an apparent proliferation of nothingburgers. While many firms scramble to announce AI initiatives, substantive transformation, measurable results, or even client testimonials remain elusive.
Disillusioned? Think again. Legal is no different from the rest of the world. The short-term impacts of AI have been much exaggerated everywhere. Meanwhile, the long-term impact remains dramatically underestimated.
AI Is Smarter and Fancier (And So Is Legal Innovation)
The legal industry’s approach to innovation has evolved dramatically in recent years.
