Hi HN, I was just thinking about this and wanted to share:
Lawyers are slow, terse and way too expensive today to the point it feels that they are gatekeeping for being inefficient and a lot of time wasted for everyone.
With the fact that LLMs are getting more and more better with text and hallucination rate is going to near zero, there should be no reason that lawyers rates should be extremely high in an AI world.
There are massive case law datasets that are available and paired with LLMs and the need for only 1 or two lawyers, it should stand to reason that lawyers + AI should get more done and not charge obscene rates.
I imagine that there would be a either an AI lawyer or a lawyer paired with AI that can take on 100,000 or more cases a year and charge $100 max rather than take on 10 cases and charge millions without AI.
We've already seen AI progress with everyone becoming digital artists, freelance writers, or programmers using AI and those who are already in those professions 10x or 100x ing in productivity already using these AI tools.
Why are industries like finance, consulting, lawyers, accredited investors too slow and gatekeeping with high rates of fees when AI can lower the barrier to entry for everyone and in the process 100x the people in these existing industries productive output?
For the next 5-10 years, it's unlikely that AI will fully automate the role of lawyers. Instead, AI is being used to enhance productivity and efficiency within the legal profession. This means that while some tasks may be automated, lawyers will still play a crucial role in providing legal services.
One significant benefit of AI is that it can help reduce the cost of legal services, making them more accessible to people who might not have been able to afford them otherwise. This could lead to an increase in demand for legal services and potentially even an increase in the number of lawyers in the short term.
In the long run, while some positions may be eliminated due to automation, AI will primarily serve as a tool to augment the capabilities of lawyers, allowing them to focus on more complex and nuanced aspects of their work.
So, rather than replacing lawyers, AI is transforming the profession and creating new opportunities for those who adapt to these changes.
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