Experienced attorney warns that the increasing use of artificial intelligence (AI) in the legal industry could have a ripple effect, leaving law students without entry-level jobs and necessary experience.
The use of AI may exacerbate the existing crisis of law school graduates with significant loans and few job prospects.
Key Points:
- AI use in the legal industry may prevent law students from securing entry-level jobs and lack necessary experience.
- AI is already used for drafting and reviewing contracts, scanning documents, and conducting legal research.
- AI increases productivity, reduces errors, and saves clients money by cutting down on billable hours.
- The use of AI may exacerbate the crisis of law school graduates with significant loans and few job prospects.
- The attorney suggests that AI could help right-size the number of law students taking out loans.
Personal Insights:
- It’s amazing what ChatGPT can do in 10 seconds spitting out a first draft, template, or some boilerplate examples to then discuss and revise.
- You can also go back and forth and discuss some pro’s and con’s with your agreements.
- It should speed things up a great deal and remove a lot of cost (people)
Article Highlights:
- Attorney Bryan Rotella said the growing use of AI in legal services will increase efficiency but could threaten the jobs of legal assistants and young lawyers.
- With over 115,000 students attending a U.S. law school in 2022, there’s roughly one law student for every 10 active lawyers in the country.
- “You’re going to have folks come out, pass the bar exam and find out that the job that the law firm is hiring them for, really, the AI is more qualified than they are,” he added. “When are they going to then get that experience they need to get over years to grow in a profession?”
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