Is generative AI about to do for legal services what the spinning jenny did for the textile industry? Capitalism as ‘creative destruction’?
Richard Susskind – who this week launched the latest edition of Tomorrow’s Lawyers at the Law Society – reckons generative AI is the most impressive legal tech he has encountered in 40 years. Our foremost futurologist also suggested there are 1,000 tech companies out there trying to do to law what Amazon did to booksellers.
Many sceptics remain. The latest to go public is Midlands firm Bird & Co, which in research published on Wednesday sought to scotch speculation that ChatGPT heralds the demise of conveyancers. Head of property Daniel Chard said: ‘The most striking issue with ChatGPT appearing to give legal advice – aside from providing incorrect answers – is that it’s not able to tailor any advice given to the person asking. This could lead first-time buyers down a path where they waste time and money if they take advice from chatbots instead of solicitors.’
I will leave the computer science to computer scientists - though I am qualified to observe that Bird & Co’s research is notable simply for the fact of being conducted and publicised. Some are excited by generative AI, others concerned.
There’s a contradiction here, too. Allen & Overy hailed its chatbot Harvey as a ‘gamechanger’ that would ‘transform the legal industry’. Yet the magic circle firm told the Financial Times that Harvey will not save money for A&O or its clients.
So how is Harvey a ‘gamechanger’, then? Technology allows more of a commodity to be produced more cheaply. At least some A&O clients will surely seek their own tech dividend.
I put that question to A&O, which told me Harvey has been introduced to ‘drive efficiencies’. A spokesperson said: ‘At the moment, it helps individual lawyers to save an hour here and an hour there throughout their working week. That adds up to a significant difference overall. However, myriad factors go into deciding fees, and Harvey is just one tool.
‘Harvey’s capabilities strongly suggest that, in future, there will be productivity changes and a change in the way we work. However, it is too early to be specific.’
Make of that what you will.
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