Earlier this week, stock prices for Chegg, which provides study materials and outlines for high school and college students, plunged by almost 48 percent reports CNBC. The culprit? ChatGPT which has cut into much of Chegg’s business in just five months.
Chegg’s recent losses are yet another reminder of just how quickly ChatGPT can shake up industries. Law is no different. By now, you’ve probably seen stories like this NYT piece describing how AI may displace lower level associates or handle routine tasks ordinarily assigned to attorneys.
But perhaps the biggest disruption that AI promises is the end of the billable hour.