In the rapidly evolving legal sector, artificial intelligence (AI) is increasingly being seen as a game changer. John Polson of Fisher & Phillips recently claimed generative AI can help smaller firms stand toe-to-toe with their larger counterparts. “[Generative AI] does help the smaller firm punch above its weight on projects and matters that require a lot of people,” said Polson.
This development represents an unprecedented equalizing force in the field, where the number of billable hours available has traditionally limited smaller firms. Generative AI technology allows even small teams to handle workload efficiently, mitigating the need for extensive manpower.
It’s worth noting that advances in AI are not only being used to support legal research and discovery but also for client communications, contract analysis and many other functions traditionally requiring human intervention.
Such advances are increasingly welcomed by both large and smaller firms alike as part of their strategic technological developments. These novel tools can potentially afford firms better client service, improved operational efficiency and, for some, a much needed competitive edge. Greater efficiency through AI could also perhaps serve to reduce the legal costs for clients, opening up access to legal services for those who were previously priced out.
Moving forward, it will become increasingly important for all law firms, regardless of their size, to adapt to these technological shifts and adopt AI tools in order to stay competitive.
For a deeper analysis on the impact of AI on legal firms, read more here
.