The legal profession is currently under threat from the emergence of AI, with concerns that software similar to ChatGPT, which possesses human-like language proficiency, may soon be capable of performing a significant portion of legal tasks.
The legal profession is seen as the most lucrative profession at risk from AI due to the nature of the work. Researchers at Princeton University, the University of Pennsylvania, and New York University concluded that the industry most exposed to the new AI was “legal services.”
AI Could Automate 44% Of Legal Work
Another research report by economists at Goldman Sachs estimated that 44% of legal work could be automated.
The influence of the new AI on the legal profession is expected to be gradual rather than an abrupt wave, resulting in the elimination of some jobs, but it also holds the potential to increase productivity for lawyers and paralegals while creating fresh job opportunities.
AI In Law Is More Measured
In the past, the march of AI in law turned out to be more measured, mainly identifying, sorting, and classifying words in documents. However, with the introduction of software like ChatGPT, which has human-like fluency, AI could take over much of the work in the legal profession.
The Impact Of AI On Legal Profession
The impact will be to force everyone in the profession to move up the skills ladder to stay ahead of the technology. Law firms often use software that runs on top of something like ChatGPT and is fine-tuned for legal work to address concerns of data protection, client confidentiality, and the software models’ tendency to make up things confidently.
New AI Promises To Make Lawyers And Paralegals More Productive
The impact of the new AI is likely to make lawyers and paralegals more productive. As they are freed up from the more mundane tasks of the profession, they can focus on more creative and strategic work. The new technology will also create new roles in the legal profession, such as data analysts, AI experts, and data scientists.
AI And Other Professions
Lawyers are only one occupation in the path of AI progress, and about 80% of American workers would have at least 10% of their tasks affected by the latest AI software. The rise of AI in other professions has already had a significant impact on the job market. However, there is a growing recognition that AI will create new roles as well as eliminate existing ones.
The legal profession is facing a new threat from AI, with ChatGPT-style software being the most significant risk to the industry. However, the impact is likely to be more measured than sudden, with the new AI promising to make lawyers and paralegals more productive and to create new roles in the profession. The rise of AI in law and other professions underscores the need for workers to move up the skills ladder to stay ahead of the technology.
