Richard Mabey, CEO of Juro, discusses the radical idea that by 2027, 80% of legal tasks could in theory be executed without lawyers. He explores the implications of AI in automating legal tasks, the evolving role of lawyers, and the accuracy of AI-generated legal solutions. Mabey argues that as AI technology advances, the need for human oversight in many legal tasks will diminish, leading to a significant shift in the legal landscape. (Note: of course, will that happen....? Even if possible, will the market move in that way? Many would argue against this outlook....but Law Punx welcomes all views that are wel thought out. If you'd like to disagree, please get in touch.) - By 2027, 80% of legal tasks will be automated.- AI is enabling non-lawyers to perform legal tasks.- The majority of tasks done by lawyers are not legal in nature.- AI can handle increasingly complex legal work.- Legal teams are deploying AI agents for document review.- Consumers are beginning to self-serve legal needs.- The universe of legal tasks requiring human judgment is shrinking.- Regulatory frameworks may need to adapt to AI advancements.- Accuracy in AI legal solutions is crucial for trust.- Lawyers will still be needed but for fewer tasks.Chapters00:00 The Future of Legal Work Without Lawyers01:10 The Role of AI in Legal Automation05:40 Consumer Law and Self-Service Legal Solutions06:53 Regulatory Challenges in Legal Automation08:40 Accuracy and Trust in AI Legal Solutions
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10:52
Law Punx - Do You Know Why You're Using Legal AI?
Richard Tromans and Horace Wu of Syntheia discuss the financial implications of AI investments by law firms, particularly focusing on the concept of ROI. Horace argues that many firms are miscalculating their returns and emphasizes the importance of training internal staff to leverage AI effectively. The discussion also touches on the balance between convenience and the actual value provided by legal technology platforms.Law firms are wasting a huge amount of money on GEN.AI.ROI should be mapped against actual financial metrics, not just efficiencies.Investing in training staff is crucial for maximizing AI benefits.Convenience does not equate to quality in legal services.Many firms are driven by fear of missing out (FOMO) in their tech investments.The accuracy of AI outputs does not guarantee usefulness.Investing in platforms may not provide a competitive edge.Understanding how to prompt AI is key to getting valuable results.Firms should evaluate if their spending aligns with their strategic goals.Convenience can be a valid reason for adopting technology, but it shouldn't be the only factor.Chapters00:00 - The Cost of AI in Law Firms06:19 - Convenience vs. Value in Legal Technology
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Law Punx - Decoding Agentic AI: What It Really Means
In this conversation, Richard Tromans and Jake Jones of Flank discuss the concept of agentic AI, emphasizing its ability to autonomously make decisions and take actions in the real world. They explore the misconceptions surrounding agentic AI, particularly in the legal field, where many tools are misclassified as agentic despite lacking true autonomous decision-making capabilities. The discussion also touches on the importance of human oversight and the need for a new paradigm in legal technology that leverages both legal expertise and innovative approaches.Takeaways- Most people do not understand what an agent is.- Agentic AI can autonomously make decisions and take actions.- Many tools are misclassified as agentic AI.- True agentic AI can understand user intent and adjust plans accordingly.- Linear orchestrations do not involve autonomous decision-making.- (Some) human oversight is still necessary in agentic AI systems.- Deep domain awareness in legal tech is invaluable.- Building a new paradigm requires both insiders and outsiders.- AI tools should interface directly with non-experts.- The future of legal tech lies in fully autonomous systemsChapters00:00 Understanding Agentic AI05:53 The Role of Human Experts in AI07:06 Shifting Paradigms in Legal Tech
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Law Punx - Legal Architects + The Future of The Legal Profession (In The Age of AI)
In this conversation, Richard Tromans and Electra Japonas discuss the transformative changes in the legal profession driven by AI and technology. Electra emphasizes the need for lawyers to adapt their skill sets, moving from traditional drafting to understanding and articulating legal principles for AI integration. They explore the role of law schools and firms in preparing future lawyers for these changes, highlighting the importance of systems design and client demands for efficiency and innovation in legal services.The legal profession is undergoing significant changes due to AI.Lawyers must adapt their skill sets to thrive in the future.Drafting will become less important as AI takes over.Understanding the 'why' behind legal work is crucial.Lawyers will need to design systems and guardrails for AI.The role of lawyers is shifting from executors to architects.Law schools need to teach legal technology and systems design.Client demands are changing the way law firms operate.Law firms must adapt to new client expectations for efficiency.The future of law will require a blend of legal knowledge and tech skills.The Future of Law: Adapting to ChangeLegal Architects: Redefining the Role of Lawyers"Drafting is dead.""Legal architects.""We want a prompt from you."00:00. The Future of the Legal Profession04:59. The Role of Law Schools and Firms08:28. Client Demand and the Evolution of Legal Services
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Law Punx – AI Can't Fix The Contract Problem
Law Punx - AI Can't Fix The Contract Problem. We hear from Todd Smithline at Bonterms about how no matter how far we get with legal AI, the core problem with contracting remains - and the answer to that is standards. SummaryIn this episode of Law Punx, Richard Tromans interviews Todd Smithline, a pioneer in standardization within the legal industry. They discuss the punk spirit of innovation in contracting, the evolution of technology in legal processes, and the fundamental problem of achieving consensus in contracts. Todd emphasizes the importance of community-created standards and collaborative tools to facilitate easier contracting for both parties, contrasting this with the traditional adversarial approach enhanced by AI.Takeaways:The punk spirit in standardization is about challenging the status quo.AI is currently the focus of investment in the legal industry.The real problem in contracts is achieving consensus, not drafting.Technology has changed the way contracts are negotiated but not necessarily improved outcomes.DocuSign's success is attributed to making contracting easier for both sides.Standards can help create a collaborative environment for negotiation.Community-created standards are free and accessible to all.The future of contracting lies in shifting fundamental behaviors.Collaborative tools can expedite the agreement process.The podcast serves as a platform for diverse legal opinions.Sound bites"We are the anarchy, we are the new energy."---Chapters00:00 Introduction to Law Punks Podcast00:57 Todd Smithline's Punk Credentials01:56 The Role of Standards in Contracting03:46 The Evolution of Contracting Technology06:00 Understanding the Fundamental Problem of Contracts07:18 Collaborative Tools for Contracting08:33 Is Contracting Broken?
Law Punx is a new podcast, with video, featuring short talks about key issues facing the legal and legal tech worlds.
The goal is to bring you smart ideas, strongly held.
Each podcast is about 8 to 10 mins and focuses on just one topic, with one guest speaker.
The host is Richard Tromans, Founder of Artificial Lawyer, the globally-read legal tech and AI news and views site.
Netherlands