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The impact of artificial intelligence on the legal industry

4 min read
The impact of artificial intelligence on the legal industry

Can you imagine a lawyer who never sleeps, never forgets a detail and is always up to date with the latest legislation? No, it’s not a superhero or the most organized lawyer in the world, it’s artificial intelligence (AI), which is revolutionizing the legal industry. And let me tell you, this revolution is happening faster than many lawyers would like to admit. So if you’ve ever been curious about how these “virtual lawyers” work, stick around, because today we’re going to unpack how AI has donned its robes and is dominating the courtroom.

Between innovative startups, accessible tools and big firms that don’t want to be left behind, all this sounds like we’re in the middle of a futuristic episode of “Suits.” But don’t worry: I explain it to you step by step so that you can see it as clear as a well-written contract.

Since ChatGPT hit the scene in November 2022, something changed: the internet was filled with questions like “Do you need a human lawyer when you can have an AI one?” Curiosity exploded, and although interest in these virtual lawyers dropped a bit throughout 2023, experts are convinced that this is just the beginning. In fact, an avalanche of even more impressive tools is expected by 2025.

And of course, it’s no wonder. With all the legal paperwork, mile-long contracts, and endless clauses, having an AI do the heavy lifting for you is starting to sound like a dream come true. But how do these tools really work? Here I present some of the most notable ones.

If productivity and saving time is your thing (and who doesn’t want that), Robin AI wants to be your best friend. This startup is gaining popularity thanks to its ability to simplify the review and management of legal documents. Imagine three modules designed to take the weight off your shoulders:

  • Draft: create contracts with templates in record time.

  • Review: reviews your contracts and gives you live suggestions as if he were your most expert colleague.

  • Query: searches for relevant clauses in a contract library that looks like something out of the Matrix.

The result? Personalized documents, minor risks and, above all, hours and hours of paperwork saved. To this we add that it has a free version and a premium version of $100 per month. It’s no surprise that it has already raised over $43 million in funding. Sounds tempting, doesn’t it?

Harvey AI: big firms have big toys

If Robin AI is the practical option, Harvey AI plays in the major leagues. Aimed at large legal firms (yes, those with lawyers with unpronounceable last names), this platform uses generative AI to handle mountains of contracts in record time. Among its most attractive features are:

  • Detect suspicious clauses and extract critical terms.

  • Generate automatic summaries with alerts about potential problems (because sometimes, the obvious escapes us).

  • Support in multiple languages ​​and analysis in different jurisdictions. Perfect for international clients.

  • Evaluate risks and even predict case outcomes. Yes, almost like a legal oracle.

With more than 3,500 lawyers already testing it and $200 million in funding to back it up, Harvey is making it clear that he’s not here to play games.

Case Text: smart assistant to the rescue

If you are looking for something more direct and accessible, Case Text may be your option. Designed for quick but effective legal tasks, this AI assistant analyzes legal documents as if it were born for it. One of its most interesting features is the ability to ask specific questions to prepare witness statements or detect conflicts in complex documents.

Does it stick? Its price: $225 per month. But you know what they say, time is money… and with this tool, it seems to save both.

Paxton AI: fast and precise movement

Legal research just a click away? Paxton AI is raising applause with 94% accuracy. It is ideal for reducing hours of research to minutes, writing strategic documents and doing everything based on legal precedents. And if you’re just starting out, its student pricing ($25 per month) makes it accessible to new lawyers. Of course, if you have a larger law firm, the professional plan will cost you $159 per month.

AI is not here to replace lawyers (for now), but to help them. From increasing efficiency to reducing risk, it’s clear that these tools are changing the game. And while we’re just seeing the tip of the iceberg, what’s exciting is imagining where these innovations can take us in the years to come.

But I’m not just stuck with my opinion (although I always have something to say, you know). What do you think of all this? Would you use one of these AI lawyers for your own cases or would you still rely on the traditional human lawyer? Leave your comments below, because I’m dying to know what you think.

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