Extract from Kevin Walker’s article “Law Firms Are Training Their Own Competitors”
Every firm leader I talk to these days is asking the same question. Which legal AI platforms are we piloting, and how fast can we roll them out? The urgency is understandable as firms feel competitive pressure to adopt new technology at the same pace as their peers.
But adoption answers only half the question. Firms should also ask themselves a more existential one. As they move more work to third-party AI platforms, are they helping build their own competitors?
Your Firm is Not the Endgame for Venture-Backed Legaltech. Your Clients Are.
The economics of legal AI point directly to the law firm disruption risk. While the market for legal software is an estimated $40 billion, the market for legal services exceeds $1 trillion.
