One of the most exciting aspects of AI in law is the potential it offers smaller, more specialised law firms to compete with the big players.
Generative AI will reduce the manpower advantage of big law firms, leveling the playing field across the industry. This greater competition will help to bring down legal costs and, more importantly, make legal services more equitable and accessible.
Large, prestigious law firms with their armies of paralegals and associates have dominated the legal industry for decades. The nature of many aspects of legal work meant that the number of bodies that can be thrown at a task matters, making it hard for smaller firms to compete.