> them out of business any time soon
No. It'll be like software. Entry level employment will be affected. You wont want or need associate attorneys when you can hire a brilliant AI associate for 1/10th the price.
> No. It'll be like software. Entry level employment will be affected.
Whether everyone at the labs knows it or not, this it what they are doing to entire industries, starting with software: Embrace, extend, and extinguish
https://en.wikipedia.org/wiki/Embrace,_extend,_and_extinguis...
What a time to be alive!!?
How is it brilliant? One mistake can end a lawyer's career. And with the true costs of these LLMs they might not even be economical.
It'll be like software. The demand for both software and legal services is effectively infinite. If it becomes cheaper to file lawsuits then we'll get more lawsuits, not the same number of lawsuits at a lower price.
There will still be jobs for competent associate attorneys to prompt LLMs and review output. But frankly a lot of attorneys — especially many of those who attended "Third Tier Toilet" (TTT) law schools — were always a waste of money and should have never entered the profession in the first place.
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> You wont want or need associate attorneys
In commercial law, the business model is to rent the associates out to clients at rates higher than you pay (d/t your supervision). No client will pay $350/hour for your AI.
And for direct billing, it's not your interest to do things faster for the client (at risk of making a mistake).
So the real question is whether these pay-by-the-hour models will die as a result of competition from fixed-price transactions made viable via automation. I think not because the entire difficulty of legal work is that it's a complex bundle of issues until you sort them out; once sorted, there's really little to do other than execute (read: paralegals).